If you’ve personally visited, or, contacted by phone or email the New Mexico Motor Vehicle Division , you may have been told that if you don’t have proof of ownership of a vehicle and you wish to
register the vehicle in your name
sale the vehicle (this includes boats)
you will need to purchase a surety bond.
In order for the New Mexico MVD to be willing to issue you a new title for purposes of registering the vehicle or selling it, the MVD wishes to protect against potential acts of fraud; and even just issuing more than one title to the same vehicle should the lost title reappear at some point.
The lost title bond protects the New Mexico MVD against this occurrence because it is a financial guarantee, based in New Mexico on two times the value of the vehicle at the time the bond is purchased.
As the buyer of the surety bond (known as the principal) you are providing that financial guarantee, and which, should there even be a claim paid on the vehicle, you will be responsible for.
The following are the steps that will be needed to obtain a New Mexico replacement title in a manner acceptable to the New Mexico MVD:
When you call AmeriPro Surety Bonds, it is a good idea, to have pre-determined the amount of the lost title bond you will require.
To figure the amount of the bond you need,
Determine the current value of the vehicle,
and then multiply that value by 2.
It is recommended that you use NADA to determine the correct value of your vehicle.
As required by the New Mexico MVD, when we issue the bond on your behalf, the bond will be issued for a period of 3 years.
You might be surprised, but the cost of a New Mexico lost title bond is rather cheap!
For example, a $10,000 bond, issued for 3 years will cost you only $150.
A $20,000 bond, issued for 3 years, will cost you only $300.00.
The minimum premium amount in all cases for any size New Mexico lost title bond is $100.00.
Besides being inexpensive, the procedure to purchase your bond is quick.
We can accomplish the purchase of your surety bond with you over the phone in a matter of minutes!
You will want to have the VIN number available.
Once issued by AmeriPro Surety Bonds, we will e-mail you a copy of your bond.
We will also immediately mail the bond to you for filing with the New Mexico MVD.
Along with all of your other required paperwork, you will mail those documents and your New Mexico lost title bond to the following address:
Motor Vehicle Division-Dealer Licensing Bureau
Attention: Surety Bonds
505 Marquette NW, Suite 1501
Albuquerque, NM 87102
Their email address is: Surety.Bond@state.nm.us
AmeriPro Surety Bonds’ recommendation is that you mail the documents with some form of tracking; however, this is not required.
Getting your New Mexico lost title bond is easy! We promise!
AmeriPro Surety Bonds is a surety bonds-only company providing contractor, license and permit, and fiduciary bonds throughout the great state of New Mexico.
We also provide surety bonds in all 50 states.