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Old 08-17-2015, 08:03 PM   #1
AFS_Racing
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Bonded Title Assistance

As the rules for attaining a bonded title have changed a bit over the years, I am asking for those experienced on this topic to share their knowledge.

Basically, I have a bike that I have Bill of Sale, but no title. Bikle was from out of state at some point.

I know that the guy I purchased from is about 3rd in line from the actual owner. Supposedly, the owner lost interest in bike after he laid it down.

I checked the VIN before purchase (a long time back) to confirm bike was NOT stolen.

I would like to see what it will take to get a proper title for bike.

Those with experience, please chime in. Also, be specific on what is required, if possible. TIA!
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Old 08-18-2015, 12:14 AM   #2
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I've done this 3 times...pretty easy process....go to your DMV ask for a bonded title package, inspect the vehicle go to DMV office of motor vehicles titles and registration div. 2110 east governors circle Houston TX 77092...phone 713 802 4300..... $15 fee here....go to insurance company and bond ur title, take all that (the package will have a check list) back to ur DMV and register. ..
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Old 08-18-2015, 12:55 AM   #3
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http://www.txdmv.gov/motorists/buyin...-with-no-title

i followed this to do it. after you buy the bond, you need to fill out a form 130u. leave the seller blank.
it doesn't state it anywhere if its required, but since it could be from out of state, i'd get the green form when you do the inspection just to be safe. ask the inspector for an additional inspection report, incase the service center takes a copy and you need it at the courthouse to do the title.

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Old 08-18-2015, 07:12 AM   #4
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WHAT EVER YOU DO.... DO NOT TELL THEM YUO BOUGHT IT 3 YEARS AGO!!!!!!!!
You will get a fines $20 per month. You will need to have a BOS-It can be hand written. make sure the date is recent other wise you will get it from the man!

If you have any questions send me a text.
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I'll be on the shop floor for a project most of the day so it'll take me a bit to reply back.
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Old 08-18-2015, 08:09 AM   #5
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Quote:
Originally Posted by albertinhouston View Post
WHAT EVER YOU DO.... DO NOT TELL THEM YUO BOUGHT IT 3 YEARS AGO!!!!!!!!
You will get a fines $20 per month. You will need to have a BOS-It can be hand written. make sure the date is recent other wise you will get it from the man!

If you have any questions send me a text.
832 253 6761
I'll be on the shop floor for a project most of the day so it'll take me a bit to reply back.


VERY TRUE STATEMENT!!!!!

When I bought my Harley, the owner accidentally dated it a year back. Instead of paying the fees for late registration, I sent the owner a "Statement of Facts" form where he explained he accidentally wrote the incorrect date on the title.

But if you cannot locate the original owner... you will need to exhaust other options to get the dates up to present time
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Old 08-18-2015, 09:11 AM   #6
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If it has a lien on it almost no bonding company will issue you a bond for it.
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Old 08-18-2015, 10:38 AM   #7
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also you may want to cross your fingers that no other claimholder has a bond on the bike before you do, else it may not even be worth your time/money.
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Old 08-18-2015, 10:52 AM   #8
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Thanks for all of the comments. I appreciate the info.

It needs fairings (been riding it around the block naked) and some other stuff. I had hoped to go through the titling process prior to putting any money into it (just in case), but now it seems I will need to complete it.

Once completed, I will have it inspected and start the bonded title process.
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Old 08-18-2015, 01:20 PM   #9
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Bond Question

Great Input!! what's the Minimum and the Maximum that you guys have paid for a bonded title?
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Old 08-18-2015, 03:06 PM   #10
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Quote:
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Great Input!! what's the Minimum and the Maximum that you guys have paid for a bonded title?
I paid $100 for a 1976 Yamaha chappie. ..and $75 for a 97 tls 1000...the first was with all state, second was geico
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Old 08-18-2015, 03:08 PM   #11
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Just for the bond....after that you still have the registration. ....they use nada values for the registration now days...
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Old 08-18-2015, 04:03 PM   #12
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Will any insurance company provide the surety bond required?
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Old 08-18-2015, 04:11 PM   #13
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State Farm did one for me on a car several years back but I had to go through about three offices before I was able to find someone who knew the process and was actually willing to do it for me, and was told "This is why we don't normally do this..." by my agent. Only cost me $50 though.
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Old 08-18-2015, 04:14 PM   #14
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Its based on value of the bike.
the one I use is...
100 $0-$2500
125 $2501-$5000
150 $5001 +

and yes then you need to pay the regular taxes
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Old 08-18-2015, 05:15 PM   #15
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I've never done one before, but thats alot less expensive than i thought, i was curious how these guys were paying $100 or less for bonded titles when the guidelines in texas stipulate that the bond must be 150% of the vehicles value, and whether the insurance agency's operate like bail bonds charging 10% of total bond value

or whether the fee's quoted above were just for the bond service, then they also had to pay for the 150% vehicle value bond as well.

$75 fee + 150% of vehicle value or do you only pay the 150% value part if someone disputes your claim? also i had someone on the phone tell me that these bonds must be held (and renewed?) for 10 years before you can get a real physical title. is that true or how does that work?

and if one was so inclined as to pay 150% vehicle value out of pocket, why do you even need a bond in the first place, just buy a savings bond or other fiduciary instrument and put that in trust as collateral?

seems like these insurance schemes are always finding new ways to keep thesmelves in business.
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Old 08-19-2015, 07:29 AM   #16
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Quote:
Originally Posted by albertinhouston View Post
Its based on value of the bike.
the one I use is...
$100 $0-$2500
$125 $2501-$5000
$150 $5001 +

and yes then you need to pay the regular taxes
after they figure out the value it'll fall into on of the brackets above.
that's what you pay.
Than you will have to pay at the title transfer place.

I believe it's 3 years before the "bonded title" falls off and it becomes a regular title.
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Old 08-19-2015, 09:50 AM   #17
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Quote:
Originally Posted by SideVinder650 View Post
I've never done one before, but thats alot less expensive than i thought, i was curious how these guys were paying $100 or less for bonded titles when the guidelines in texas stipulate that the bond must be 150% of the vehicles value, and whether the insurance agency's operate like bail bonds charging 10% of total bond value

or whether the fee's quoted above were just for the bond service, then they also had to pay for the 150% vehicle value bond as well.

$75 fee + 150% of vehicle value or do you only pay the 150% value part if someone disputes your claim? also i had someone on the phone tell me that these bonds must be held (and renewed?) for 10 years before you can get a real physical title. is that true or how does that work?

and if one was so inclined as to pay 150% vehicle value out of pocket, why do you even need a bond in the first place, just buy a savings bond or other fiduciary instrument and put that in trust as collateral?

seems like these insurance schemes are always finding new ways to keep thesmelves in business.
My understanding is that purchasing the bond (on the scale like Albert mentioned) is essentially like buying an insurance policy on the title in the case that a claim is made against it.

When I did my '98 Trans Am around 2010 I thought I remembered paying $50 for the bond through State Farm (think it was around $5k value), then all other tax/title/registration fees with the DMV were exactly as if I'd bought the car outright.

In my case, I had the original title, it'd just changed hands 2 times and the idiots just kept signing the back in new boxes (the dealer transfer boxes), so Texas wouldn't take it.


https://www.suretybonds.com/title-bond.html

Quote:
How much does a certificate of title bond cost in Texas?

The Texas Department of Transportation requires vehicle owners with insufficient proof of ownership for their vehicles to post 3-year surety bonds in amounts equal to 1.5 times the value of the vehicle. Applicants should verify their required bond amount with the state prior to bonding.

Bonds in amounts exceeding $25,000 are subject to underwriting, which means the price of the bond is based on a review of the applicant’s credit report. Bonds in amounts less than $25,000, however, can be issued instantly without a credit check. In fact, bonds in amounts less than $6,000 cost just $100!
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Last edited by Jae; 08-19-2015 at 09:54 AM.
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Old 08-19-2015, 12:12 PM   #18
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the bond value has to be 150% of the spv of the vehicle. after you are approved at the rsc office, they'll tell you how much of a bond you need. then go to the bond/insurance agent and they'll tell how much the bond will cost to cover that amount. my $2700 bond last year was $100 through state farm.

if you're looking to get everything done in one day, make sure where you get the bond from can issue the official bond on the spot.
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Old 08-19-2015, 12:16 PM   #19
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Quote:
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In my case, I had the original title, it'd just changed hands 2 times and the idiots just kept signing the back in new boxes (the dealer transfer boxes), so Texas wouldn't take it.
did you turn in the messed up title with your paperwork or just a bill of sale?
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Old 08-19-2015, 01:00 PM   #20
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Quote:
Originally Posted by buddha429 View Post
did you turn in the messed up title with your paperwork or just a bill of sale?
I had a bill of sale, which was submitted (along with the messed up title) as supporting documentation of the sale of the vehicle.
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