How much does a certificate of title bond cost in Nevada?
Based on the vehicle MSRP evaluation, the bond amount will be equal to one and a half times the appraisal amount. Nevada certificate of title bonds up to $6,000 are issued instantly and cost $100. Bonds between $6,000 and $25,000 are also issued instantly at a rate of $15 for every $1,000 of coverage. Bonds greater than $25,000 are subject to review by an underwriter, although they are typically aproved at a low cost as well.
Why do I need a title bond?
Nevada passed senate bill 452 that created a new title requirement for cars without proper proof of ownership. When a car is acquired that does not have sufficient documentation, the owner must purchase a certificate of title bond to guarantee to the state that they are the rightful owner of the vehicle. Once the bond is purchased, the vehicle owner will receive a bonded title. Bonded titles operate the same as original titles with the exception that there is a surety bond associated with the title.
Please note this bond is required for a vehicle title to be issued. If you need a surety bond for any other facet of the motor vehicle industry, a Nevada motor vehicle industry license bond is requireds
What’s the fine print?
Before certificate of title bonds can be issued, applicants must present information for the vehicle regarding the make, model, year, and vehicle identification number. The county the vehicle is being titled in must also be printed on the bond.
Nevada title bonds must be in effect for three years, regardless of whether or not the vehicle is sold, at the end of which an original title will be issued.
How do I get a Nevada bonded title for my vehicle?
- Step One: Apply
- Begin by contacting the Department of Motor Vehicle’s Title Research Section by visiting their website or by phone at (775) 684-4810. Obtain the Affidavit for Bonded Vehicle Title, and complete the parts one and two. A vehicle inspection must also be conducted by a law enforcement officer, a business authorized by the DMV, or a DMV Full Service office. Then, the affidavit and copies of all ownership documents should be sent to the Title Research Section at 555 Wright Way Carson City, NV 89711.
- Step Two: Department Research
- The Department will then search for vehicle theft and brand history. After figuring out the Manufacturer's Suggested Retail Price (MSRP) for the vehicle, the Department will calculate the bond amount required. They will then inform the owner of the bond requirment as well as a list of any other requirements.
- Step Three: Purchase and Complete
- To complete the process, a bond should be purchased in the amount required by the Department. Finally, complete the remainder of the Affidavit for Bonded Vehicle Title, get section four notarized or witnessed by an authorized DMV employee, and send back the original documents and fees to the Title Research Section, which is located in Carson City.