How much does a certificate of title bond cost in Tennessee?
The Tennessee Department of Revenue requires all owners of vehicles without certificates of title within the state to execute a surety bond. The required bond amount must be equal to the appraised value of the vehicle. Applicants must verify their required bond amount prior to bonding.
Bonds in amounts less than $6,000 will cost just $100 - no credit check required. Bonds in amounts between $6,000 and $25,000 will also be issued without a credit check, but at $15 per every $1,000 of the required bond amount. Bonds in amounts greater than $25,000 are subject to underwriting consideration.
Submit a bond request or call 1 (800) 308-4358 to connect with a surety specialist who will assist you with your Tennessee bonding needs quickly, easily and accurately!
Interested in obtaining a certificate of title bond? Call us today at 1 (800) 308-4358 or fill out our online bond request form now.
Why do I need this bond?
Tennessee certificate of title bonds are put in place to protect the state and general public from financial loss that occurs as a result of the issuance of a new certificate of title for the vehicle in question. By posting this bond, the principal (vehicle owner) takes full responsibility for these damages if they do occur.
The surety will initially cover any damages up to the full bond amount, and the principal must reimburse the surety for any damages paid out.
What’s the fine print?
If you own a vehicle in Tennessee that is unregistered and needs a certificate of title, the Department of Revenue mandates that you secure a surety bond. The bond remains valid for 3 years from the effective date. If the vehicle is no longer registered with the state before the 3 years are up, then the owner can return the certificate of title to the state if there are no pending claims.
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