When you buy a car, you need to make sure it’s the right make and model at a fair price. Just as importantly, you need to make sure a valid title is included in the sale. You can still complete the purchase without a title, but the process is much easier with all the necessary paperwork. However, if you don’t have that paperwork, don’t worry. Dealing with a lost or invalid title is certainly annoying, but it doesn’t have to put your vehicle purchase in jeopardy. Use this resource to learn everything you need to know about buying a car without a title.
A title establishes legal ownership of a vehicle. In the eyes of the law, whoever is listed on the title owns the vehicle. Being identified as the owner is important because if you’re not, you lose a number of legal rights:
For all intents and purposes, if you purchase a vehicle without a title it needs to stay parked in your driveway. Driving without registration or insurance puts you at risk of tickets, fines, and even jail time, depending on where you’re located.
Since vehicle titles are so important, most people preserve and maintain them carefully. But they are also just a piece of paper filled in by hand, meaning that they can easily get lost or even contain invalid information. When you’re buying a vehicle, watch out for these common title issues:
If the title is already in your name and gets lost for some reason, you can typically apply for a duplicate from the DMV.
This type of surety bond (also known as a lost car title bond or missing car title bond) helps you replace a missing or invalid title. Before the DMV will issue you what is known as a “bonded title,” they need to be sure that your vehicle does not have any other legal owners. You will be required to get a missing car title bond, which holds you accountable if anyone else is able to produce a valid title for your vehicle. There are three parties involved in the bond agreement:
It’s also possible for the vehicle’s previous owner to be the principal. If you bought a vehicle that already had a bonded title attached, the lost title bond does not transfer to you as part of the vehicle sale. The previous owner is still responsible for paying claims, giving you some peace of mind that your vehicle sale is legitimate.
Contact your local DMV. They can tell you whether you actually need one of these bonds and how to go about getting a bonded title. The requirements are different in every state, but they typically involve these steps:
Are you trying to register or sell a vehicle you don’t have a title for? You probably need a lost car title bond before you can proceed forward. Fortunately, Viking Bond Service makes it quick, easy, and affordable to obtain the bond your DMV requires. Rely on us for information, assistance, and, most importantly, bonds. If you would like more information before you apply, explore this free resource all about surety bonds.
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