Illinois Certificate of Title Bond
AmeriPro Surety Bonds | 844-589-9732
Illinois Lost or Missing Vehicle Titles
When the title to the purchase of a vehicle cannot be located for whatever reason, the Illinois Secretary of State may require you to a Certificate of Title surety bond as a condition of granting a Certificate of Title.
The Illinois certificate of title bond extends to beyond cars. Included are motor homes, motorcycles, and trailers. Antique vehicles whose title is unavailable are also subject to the surety bonding requirement.
AmeriPro Surety Bonds will provide the surety bond required in the amount required by the state.
Qualifying and the Premium
Up to and inclusive of a $50,000 surety bond amount, our agency will provide you with the IL certificate of title bond immediately, with no credit check, and at 1% of the amount required (minimum of $100).
When you call us, we’ll ask you the basics–your name as it should appear on your surety bond and your contact information. The application will be taken from you over the phone. We’ll also need you to provide us with the following information:
- Body type of your vehicle;
- Your vehicle’s vehicle identification number (or VIN);
- The make of your vehicle;
- The model year of your vehicle.
For amounts greater than $50,000, you will still qualify at the 1% rate; however, approval is predicated on a signed application and good credit.
Once the premium is paid, our agency issues you your certificate of title bond immediately along with a Power of Attorney form. Upon receipt, you’ll sign your bond as Principal, filing all documents provided by us to:
People of the State of Illinois
State of Illinois Secretary of State
213 State Capitol
Springfield, IL 62706
Illinois Certificate of Title Bond: Its Purpose
The purpose of the Illinois certificate of title is a financial guarantee which protects:
- The state of Illinois;
- Prior owners or lienholders of the vehicle which you are registering;
- Any subsequent owners of your vehicle;
From any loss, financial harm or damage that may arise from the discovery of any information which subsequent to the issuance of the bonded title was not known at the time.
The bond’s protections afforded are strictly for others, not you as purchaser and owner of the bond. Nor is it an insurance policy.
Should a claim ever be paid on your surety bond, it will be your legal liability to reimburse the surety for all costs involved in the claim’s settlement.
Illinois Certificate of Title Bond: The Amount Required
According to Illinois state regulations, you will be required to purchase a bond which is 1 ½ times the wholesale value of the vehicle.
You may not determine the wholesale value of the vehicle on your own, even if you are qualified to do so.
That amount must be determined by a written appraisal from an independent, disinterested party; or, alternatively, a guide for pricing used vehicles.
Steps to Acquire Your Illinois Certificate of Title Bond
Besides the surety bond requirement, there are others steps to obtain a Certificate of Title from IL Secretary of State.
- Since you don’t have title to the vehicle in your possession, you will need to provide some proof of ownership. This may include a canceled check, a bill of sale, or receipt—something which demonstrates your purchase of the vehicle;
- You will need to have an independent appraisal as discussed above to determine the wholesale value of your vehicle or mobile home;
- The surety bond requirement, which, again is 1.5 times the determined wholesale value of your vehicle;
- An application for a Certificate of Title provided to the Secretary of State;
- Any other requirements as may be applicable to what you are attempting to have registered.
AmeriPro Surety Bonds is a surety bonds-only agency which provides surety bonds throughout Illinois.
We provide license and permit, contractor, court, and fiduciary bonds. Our agency also provides surety bonds nationwide.
We understand that you have choices and thank you for your consideration of our agency.
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