NC Indemnity Bond for Title???

I know a guy that has a couple motorcycles he had to get this on. He said it was pretty easy.
 
I'm interested also and only inquired with my insurance co a few years ago and got no where. What is the ballpark cost from the insurance co? Is it based on the value of the car? Are the DMV charges the same once you have the "bond" for your insurance co? How long does the bond last before it becomes a real title?

Sorry for all the questions but I have a Jeep w/o a title I have my eye on.
 
Since I posted last night i found an independent agent who has agreed to help me out with the process.

I will post a thread in detail listing all steps and outcomes of all that I did.

Wish me luck, to date the DMV hates me!
 
JeepTruck said:
That helps alot but I have one question/ what if...What if there is an issue with the title? Bank or lender leins, unpaid state/county taxes or worse it comes back stolen?
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I believe this is what the bond protects you from. Since the bond is for 1.5x the value of the vehicle and is held by the gov for 3 years then if it comes up stolen/leins/etc...the bond amount will cover this and you will still own the vehicle.

I do know that once you file the bond and paperwork they will give you a tag on the spot and the title will come in the mail, in your name, in about a month.

Again, this question is best answered by the tag office since I'm not 100% sure about it.

Here is another link that might help:
http://www.ncdot.org/DMV/vehicle_services/registrationtitling/vehiclesBonded.html


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Also,

Make sure your insurance guy gets the bond through a NC bond agency. Most local insurance guys get their bonds through another larger company which needs to be located in NC. I ran into this problem due to the company being from SDakota.
 
Russ you might could give me a little insight on this. I bought the jeep in NC at the time I was living in NC.....You or anyone else have any info on doing this now that I am a SC resident. I have heard it may be easier to obtain a title in SC as opposed to NC....
 
WCURoverd90 said:
Russ you might could give me a little insight on this. I bought the jeep in NC at the time I was living in NC.....You or anyone else have any info on doing this now that I am a SC resident. I have heard it may be easier to obtain a title in SC as opposed to NC....
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Sorry, I'm not sure. I'm sure it's easier than NC though.
 
jeepgdub said:
Just got off the phone with DMV, My mint condition CJ is worth $468.00, guess thats great when it comes to tax time!!!
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The bond will cost me 100 bucks through the bond company, then another 40 for the title fee, and add on the 16 dollar tax, it's not that big of an expenditure.
 
Filled out a few MVR forms after the bond was written, and the DMV inspector came to make sure it was not stolen, and bam, will have a title in three weeks. Costed me under 200 bucks.
 
jeepgdub said:
The bond will cost me 100 bucks through the bond company, then another 40 for the title fee, and add on the 16 dollar tax, it's not that big of an expenditure.
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what kind of bond company? i have my eye on a work truck and it has no title....any chance you could tell me the steps? where you went and who you dealt with? or what exactly i would need to do.
 
i had the same question a few weeks ago and russ gave me the info, i actually finally got around to going to the dmv today and got the paperwork. You have to fill out an afadavit explaining how you aquired your vehicle, get a license and theft inspection done on the vehicle get a bond for 1.5x the value of the vehicle, with a minimum of 100$ pay a 40$ title fee and 3% highway vehicle tax and also fill out the applying for a new title form and you'll get the new title in the mail. Once you do all of this you can get your vehicle registered and tagged. although i think you'd have to go get a regular inspection before you can get the tag
 
I did mine through the Bond Exchange off of Monroe Road in Charlotte, in the Mcalpine Business Center. Took about 30 minutes and I was done. DMV Inspector came out within a week. He was easy to deal with as well.




sheepaleep said:
i had the same question a few weeks ago and russ gave me the info, i actually finally got around to going to the dmv today and got the paperwork. You have to fill out an afadavit explaining how you aquired your vehicle, get a license and theft inspection done on the vehicle get a bond for 1.5x the value of the vehicle, with a minimum of 100$ pay a 40$ title fee and 3% highway vehicle tax and also fill out the applying for a new title form and you'll get the new title in the mail. Once you do all of this you can get your vehicle registered and tagged. although i think you'd have to go get a regular inspection before you can get the tag
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Im trying to do this with a motorcycle.How do they price the bond ? Thats what I need to know. Like my bike is worth 2000. So I need a bond for 3000. Its not going to cost 3000 right ? Also do you have to go to a License & Theft Bureau office for the inspection, or just an inspection station, DMV or what ? Im in jacksonville, and the locator said Greenville was the closest one.
 
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