If you are a Vermont resident, a bonded title can be an effective way to recover your vehicle title if you don’t have sufficient evidence of ownership.
What is a bonded title?
A bonded title is a type of title recovery method that requires the purchase of a surety bond, also known as a vehicle title bond, to secure the ownership of the vehicle. This is because, in order to receive a bonded title, you must have a major lack of proper documentation. The DMV in your state is essentially taking your word that you are the owner of the vehicle. The vehicle title bond provides security for the DMV to assign ownership in the event that there is an ownership discrepancy after the bonded title is issued.
How to get a bonded title in Vermont
Before beginning your bonded title process, make sure that your vehicle meets the eligibility for a bonded title.
Vehicle requirements for a bonded title in Vermont
- The vehicle is operable
- The vehicle does not have any liens or security interests
- The vehicle was not stolen
How to apply for a bonded title in Vermont
If your vehicle meets the eligibility requirements of a Vermont bonded title, begin the application process by completing the Vermont Registration Tax & Title Application.
VIN verification requires a physical inspection of the VIN of the vehicle. This is an official process and must be completed by an authorized agent such as a county Sherrif or military officer. VIN verification is required to ensure that the vehicle is permitted to be titled under federal and state laws. Certain VINs or replacement parts may be found in the NMVTIS database and are unable to be titled if the vehicle was rebuilt or previously damaged,
Once your vehicle has been inspected and approved to move on to the next step, the county tag office will tell you the value of the bond to purchase. This value is typically based on the book value of the vehicle. Most title bonds are required to be 1.5x the value of the vehicle, however, that doesn’t mean it costs that much to purchase. Most title bonds cost around $100-$150 for average-value vehicles. Before submitting, have your Motor Vehicle/Vessel Title Bond form notarized. Check with your bond provider to see if they can notarize your form.
Once you’ve completed the official documents, verified your VIN, and obtained your title bond, submit all of your documents, state title fees, and a copy of your bill of sale to the Vermont Department of Motor Vehicles. They will process your application and return to you a bonded title in your name.
After 3 years of having BONDED stamped on your vehicle title, the bonded title brand will dissipate and you will have a clean Vermont title in your name.
Looking for a quote for your title bond? Get one with us here at ProBonds.com!
CarTitles.com takes the hassle out of applying for a title for your vehicle. Their team of title experts can help prepare your paperwork for your Vermont bonded title or any other title recovery method provided.