What Are DMV Defective Title Bonds?
What do you do when a motor vehicle title issue arises? If you cannot track down the title of a car you purchased, or there simply is no title you, may need a DMV Defective Title Bond. These are commonly known as DMV Lost Bonds.
Defective (or Lost) Title Bonds for the Department of Motor Vehicles is a very common surety bond.
Who Needs A DMV Defective Title Bond?
There are many reasons for needing this type of bond. Some of the more common reasons for having to get this surety bond are:
1. You paid for a vehicle, but didn’t receive title and the lender is now out of business.
2. The original documentation was ruined in a natural disaster.
3. The vehicle is older or is custom made so there isn’t a title.
We issue the bond same day!
How Much Are They?
The premium rate is usually 2% of the bond amount, with a minimum $100.00 premium. This is a relatively simple bond to purchase especially since this type of bond does not usually require a credit check. All we need is a completed application. Call us today for a quote.