If you're a resident of the Tarheel state and your car title is lost, stolen, or missing, how can you legally register, insure, or sell your car without the title? A North Carolina bonded title is a surety bond you can obtain to use in the place of your missing car title.

What is a North Carolina Lost Title Bond?

As the name implies, a North Carolina lost title bond is used when you cannot locate your car title. The bond is a way to verify your ownership of your vehicle when the title is unavailable. The Department of Motor Vehicles (DMV) and the police accept the bond as proof of ownership. To ensure that only the legal owner of a vehicle claims it by way of a title bond, the bond also establishes a mechanism to punish the fraudulent purchase of the bond. Learn more on this in the next section.

How Does a North Carolina Bonded Title Work?

A North Carolina bonded title, like any surety bond type, is a legal contract between three essential parties:

Principal: The bonded party – in this case, the person claiming ownership of the vehicle is – the bond principal.
Obligee: The entity requiring the bond – in this case, the DMV – is the bond obligee.
Surety: The insurance company that underwrites the bond is the surety.

If you take out a title bond and another person claims to be the vehicle's true owner, they can file a claim against the bond. The surety thoroughly investigates all claims. If the surety finds in favor of the claim, they will pay the damages up to the full value of the bond. As the principal, you are financially responsible for any claim and must reimburse the surety in full, including fees and penalties. If the claim has no merit, it will be dismissed.

Who Needs a Bonded Title in North Carolina?

You may need this bond if you are a North Carolina resident who owns a car, truck, boat, or motorcycle but cannot locate the car title. Without the title or a North Carolina bonded title, you are not legally permitted to sell, register or insure the vehicle.

How Much Does a North Carolina Bonded Title Cost?

A surety bond's cost is typically a tiny fraction of the bond's value, often just between 1% and 3%. An NC bonded title value must be 150% of the vehicle's appraised value and is issued for three years. Principals with sterling credit will pay a lower fee, while those with spotty credit will pay a higher premium. If you keep the vehicle beyond the bond's expiration, you will need to renew the bond and undergo an additional credit check. If your credit improves in that time, the cost will go down.

How Can I Get a North Carolina Bonded Title?

At Viking Bond Service, it is quick and straightforward to obtain a surety bond. To get an NC bonded title, complete our online application today. We'll send you a competitive quote ASAP. You're welcome to call us toll-free at 1-888-2-SURETY (1-888-278-7389). Let's put you back in the driver's seat.

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