How much does a certificate of title bond cost in Washington?
The Washington Department of Licensing’s Master License Service requires individuals with lost or stolen titles for their vehicles to post surety bonds. The bond amount should be equal to 1.5 times the value of the vehicle, which is determined by the Department of Licensing. Applicants should verify their required amount of bond coverage with the state.
SuretyBonds.com offers 3-year Washington vehicle ownership bonds at varying prices depending on the required bond amount. Bonds in amounts less than $25,000 are issued instantly without a credit check! In fact, a bond up to $6,000 will cost just $100! Bonds for amounts greater than $25,000 are subject to underwriting.
Why do I need this bond?
Washington certificate of title bonds ensure that the principal (current vehicle owner) is now the sole owner of the vehicle. This bond is necessary when the previous owner of the vehicle has sold it to the principal without a title.
The bond protects any prior owner, secured party, subsequent purchaser and their respective successors in interest against any expense, loss or damage as a result of issuing a certificate of ownership up to the full bond amount.
Please note this bond is required for a vehicle title to be issued. If you are planning to sell cars and other vehicles, a Washington motor vehicle dealer bond is required.
What’s the fine print?
To apply for a Washington vehicle ownership bond, the make, model, year motor/ID number and serial number of the vehicle must be noted on the bond form. If the surety decides to cancel this bond, it must provide written notice of cancellation to the Washington Department of Licensing’s Master License Service.
This bond is valid for a 3-year term. Proof of ownership and a valid driver’s license for the applicant will be necessary to process this bond.