California DMV Defective Title Bond | AmeriPro Surety Bonds | 844-589-9732
If you need a California DMV defective title bond, in all likelihood you’ve already visited a local California Department of Motor Vehicle location and have been told by a representative that you are required to purchase one.
DMV Defective Title Bond
A DMV defective title bond is required when a vehicle that you own has a missing title.
It is likely that you learned that you are required to purchase this bond because you wish to transfer ownership of the vehicle.
Of course, without a title, you cannot make a lawful transfer. In order for the DMV to issue a new and replacement title, they want to guarantee that the DMV, you, and any potential owners are protected against any future discovery of prior ownership (i.e. the missing title) of the vehicle.
A DMV Defective Title Bonds is easy to qualify for…
For California defective title bonds where the vehicle is valued up to $25,000, the bond is an “Instant Issue” surety bond. This means that there are no credit checks. You will just fill out the application, declaring the value of your car/vehicle (which may be determined by the California DMV), and pay the premium.
We will issue the bond immediately thereafter and you will file it with the appropriate DMV office. For a California defective title bond where the value of the vehicle is between $25,000 and $100,000, there will be underwriting and a credit check.
While it will take a little longer to issue this bond, obviously, it will not be by much. The cost of this higher priced bond will be determined by both your credit score and the blue book value of the vehicle. In both cases, the amount of the bond paid is determined in part by the value of the vehicle.
For Instant Issue bonds, the price can be surprisingly low.
The 3 Parties to a DMV Defective Title Bond:
The principal is You, who need to purchase the DMV defective title bond. The obligee is the California Department of Motor Vehicles — and indirectly any other future owners of the vehicle. You are purchasing the DMV defective title bond as mandated by the DMV in order for them to issue you a new title. The surety is the financial entity who will sell you, the principal the surety bond. You will file this bond with the obligee, the Department of Motor Vehicles.
A DMV Defective Title Bond is NOT insurance…
Please note that your DMV defective title bond is not an insurance policy. It is required to protect the DMV and other purchasers in the event that the car is later discovered to belong to someone else. This bond does not protect you from claims which originate from an auto accident, defective parts, and similar matters.
AmeriPro Surety Bonds will make the purchase of your California defective title bond easy and quick, allowing you to get this bond filed with the DMV. Call AmeriPro Surety Bonds today to get this bond. We provide surety bonds in all 50 states: 844-589-9732.