Originally posted by afRaceR: I got a bonded title on my Fiero, and unless something has changed in the last six years, it really wasn't that difficult. Go to the DMV, this is definately the worst part, get a bond title packet. Use the list of bond companies in the packet and find the company that charges the least for a bond. Go to bond compnay with packet and any proof of ownership(bill of sale), they give you a bond certificate. Go back to DMV when paperwork clears you get a title. Definately a little bit of a pain but you gotta expect that when you go to the DMV.
When I was checking on bonds, I got quotes from $60-160, definately shop around. I'm sure there was some extra fees for the bonded title, but registration wasn't too much more than normal.
They do value the car at 1.5 times the NADA value, you don't have to pay that............unless, this is a bonded title for three years, three years is significant because if anyone can prove ownership within those three years, the bond company has to pay the bond. And then you have to repay the bond company. There is some risk, but as long as you have a good bill of sale, there is very little risk. After the three years, the title becomes a regular title and no one can try to claim ownership.
And actually, the hardest part of this, is finding someone at the DMV that knows that this even exists. Most DMVs I have talked to don't know about this and I have to inform them about the process. Even at the Arlington DMV where I titled my Fiero, some people knew exactly what I was talking about and others had no clue.
I'm glad your's went well. They gave me no packet...? Had to find 2 places involved in "car" business to "appraise" the car and write on their letterhead or business card (not easy when it's not registered for the road). Some places refused to do it. Then go down to Title office with the appraisals and Bill of Sale and spend the afternoon in line, one item was not exactly right, had to go back out make the correction (couldn't be done there), come back wait in line again, pay $2.xx then get the packet to go get the bond. The only place in my area that knew anything about the bond was a State Farm office in Allen, but they had to wait for the form to come from their headquarters, (cost $50 minimum for the bond ), then to DMV to get the rest done. It's kind of hard to do this when you get off work at 4pm and everything closes at 5.
I'm glad your's went well. They gave me no packet...? Had to find 2 places involved in "car" business to "appraise" the car and write on their letterhead or business card (not easy when it's not registered for the road). Some places refused to do it. Then go down to Title office with the appraisals and Bill of Sale and spend the afternoon in line, one item was not exactly right, had to go back out make the correction (couldn't be done there), come back wait in line again, pay $2.xx then get the packet to go get the bond. The only place in my area that knew anything about the bond was a State Farm office in Allen, but they had to wait for the form to come from their headquarters, (cost $50 minimum for the bond ), then to DMV to get the rest done. It's kind of hard to do this when you get off work at 4pm and everything closes at 5.
Dave
I tried to educate myself on this as much as possible before I started. Its not an easy thing to accomplish at all, especially when the DMV clerks are uneducated about this type of title. The only thing most of them no how to do is take payments. I used an insurance company in Grand Prairie, kind of a **** hole of an office, but they had the forms and actually helped me with the whole process. And then only charged $60 for the bond. They definately made it easier for me.
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11:41 PM
Jul 29th, 2006
jscott1 Member
Posts: 21676 From: Houston, TX , USA Registered: Dec 2001
I'm glad your's went well. They gave me no packet...? Had to find 2 places involved in "car" business to "appraise" the car ... Dave
They are supposed to use 1 1/2 times NADA for anything less than 19 years old... So for an 88 or maybe an 87 you can escape the appraisal. I called the DMV in Austin and they were pretty clueless as well about the process, so I can understand why the field offices are pretty uneducated.
Anyone else in Texas might try this title company, they supposedly help you out with the paperwork
Originally posted by Erik: Yeah I suppose unless a cop was really looking it wouldn't be noticed ..regardless what could they really do? If you had a valid title that matches the VIN how could they prove that the car used to have another VIN?
Actually, there are supposed to be three places on the car where the VIN is located. One is the plate you see on the dash. A second plate is located underneath the dash, again on the driver's side, if I recall right. There is supposedly a third place where the VIN is located, but I don't know where it is. John Stricker and I have had a few conversations about this, and he says he's only found two. Regardless, if they wanted to look hard enough...and pull the car far enough apart...they could tell. I ran into a similar situation a while back, and ended up letting the car be towed away by the police as an abandoned vehicle, hoping to buy it back when the towing company finally gets an abandoned title for it. I was offered VIN plates by several people, but chose not to change the VIN. As I understand it, it's a FEDERAL offense to tamper with the VIN plate. Secondly, what would happen if you sold the car to someone down the road that discovered that the VIN plates didn't match, or you were in an accident, and that second plate was found? The way my luck runs, I chose not to tempt the fates...
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11:17 PM
Erik Member
Posts: 5628 From: Des Moines, Iowa Registered: Jul 2002
Actually, there are supposed to be three places on the car where the VIN is located. One is the plate you see on the dash. A second plate is located underneath the dash, again on the driver's side, if I recall right. There is supposedly a third place where the VIN is located, but I don't know where it is. John Stricker and I have had a few conversations about this, and he says he's only found two. Regardless, if they wanted to look hard enough...and pull the car far enough apart...they could tell. I ran into a similar situation a while back, and ended up letting the car be towed away by the police as an abandoned vehicle, hoping to buy it back when the towing company finally gets an abandoned title for it. I was offered VIN plates by several people, but chose not to change the VIN. As I understand it, it's a FEDERAL offense to tamper with the VIN plate. Secondly, what would happen if you sold the car to someone down the road that discovered that the VIN plates didn't match, or you were in an accident, and that second plate was found? The way my luck runs, I chose not to tempt the fates...
I have cut up 2 Fiero frames into small pieces that I junked out due to rust and never seen any other tag or numbers other than the 2 mentioned ..did the third rust off? ..of course the 87 88 had vin #s on all the body panels
[This message has been edited by Erik (edited 07-29-2006).]
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11:27 PM
jscott1 Member
Posts: 21676 From: Houston, TX , USA Registered: Dec 2001
Actually, there are supposed to be three places on the car where the VIN is located.
I've never seen the third VIN plate, but from what I have seen on other cars, it's probably on the cowl somewhere. On Camaros and Corvettes I've seen it where if you remove the A/C unit, the VIN, or maybe even just a partial VIN with the plant sequence number, is probably stamped there.