How much will my certificate of title bond cost?
The Arizona Department of Transportation Vehicle Services Division requires individuals with a missing vehicle title to provide a bond with a 3-year term for an amount that’s 1.5 times the vehicle’s worth. The state will determine your vehicle’s worth and necessary bond amount.
If the required bond amount is less than $25,000, SuretyBonds.com can issue the bond in just 5 minutes without a review of your financial history. In fact, if your required bond amount is $5,000 or less, we can issue this bond instantly for just $100!
Arizona title bonds in the amount of $25,000 or greater will be subject to underwriting, and the price an applicant pays will be based on a review of your financial history.
Why do I need an Arizona motor vehicle surety bond?
The Arizona motor vehicle surety bond ensures that the principal (previous vehicle owner) is or was indeed the sole owner of the vehicle upon the sale of said vehicle. This bond is necessary when the principal has lost the title of a vehicle in their name and plans to sell it in the future. If it comes to light that the principal is not or was not the sole owner of the vehicle, a claim can be brought against the vehicle bond and the surety will cover any damages. The principal is then required to reimburse the surety.
By posting an Arizona bond for a car title, the seller and buyer of the vehicle agree that, to the best of their knowledge, the vehicle is in good standing and was not acquired under fraudulent conditions.
Planning on selling vehicles to the public? Get more information on Arizona vehicle dealer bonds here.
How to get an Arizona motor vehicle bonded title
A good place to start when needing a motor vehicle bond is to contact the Arizona Motor Vehicle Division. The requirements are generally the same but could differ based on your situation. The process of getting a bonded title includes:
Complete a level 1 inspection of the vehicle at an Arizona MVD office
Gather important documents, such as a bill of sale or documentation from the previous owner
- Mail out certified letters to those involved in the sale
- If the letters are answered with a statement saying they do not want ownership of the vehicle, you do not have to obtain a surety bond
Complete the Bonded Title Affidavit at the MVD office
Get your vehicle appraised by an official at the MVD
- Obtain a surety bond once you know the vehicle’s value
- The bond amount is typically 1.5 times the amount of the vehicle’s value
To apply for this bond, the make, model, year, vehicle identification number and serial number of the vehicle must be noted on the bond form. The bond is valid for 3 years after the date of issuance, and the surety must give the state 30 days’ notice prior to the cancellation of the bond.