When selling a used car, the seller typically gives the buyer the vehicle's title. This allows the buyer to take ownership of the vehicle, and the title can be used for things like registering the vehicle with their state's DMV or selling the vehicle to someone else. In some cases, though, the process of selling and buying a used car simply is not this simple. For example, in some cases, a bonded title is needed.
Basically, a bonded title is a title that the seller and buyer can request in the event that a regular title cannot be granted. These are some of the times when a bonded title might be needed when you're buying a used car.
The Seller Can't Find the Title
Unfortunately, it's not uncommon for vehicle sellers not to have a copy of their vehicle title. After all, some people lose their car titles over the years. If this is the case, then it might seem as if you will not be able to purchase the used car that you want to purchase after all.
There are a few options that you and the seller can look into in this situation. The seller can file a for a lost vehicle title with their state DMV. There can sometimes be problems with this, however; for example, it might take a while for the process to happen and the title to come in the mail. The seller also might not have all of the necessary documentation for filing for a lost title. In this case, getting a bonded title can be a good option.
The Title Is Damaged in Some Way
The seller of the vehicle might have a copy of the vehicle title, but it might be damaged in some way. The title might be torn, or something might have been spilled on it, or someone might have marked through it with a marker or pen. If the title is damaged in some way, there is a good chance that it will not be considered valid as it is. If this is the case, then the current title will not work well for you as a buyer since you might not be able to use it later for registering the vehicle or selling the vehicle to someone else. Therefore, you will probably want to talk to the seller about the option of getting a bonded title when going through with the transaction.Share