How Much Does a Bonded Title Cost?
The cost of your title bond is a small percentage of the bond amount required by your state. For most states, the bond amount is calculated at 1.5 times the appraised value of the vehicle.
Low-value vehicles appraised at up to $4,000 typically require a title bond with coverage of up to $6,000, and a flat surety bond cost of $100. Higher-value vehicles evaluated above $4,000 generally require a title bond cost of $15 for every $1,000 (1.5%) of the bond amount coverage. For example, if your vehicle is appraised at $8,000 and the required bond amount is $12,000 (1.5 x $8,000), the cost of your title bond would be $180.
What Factors Affect the Cost of Your Title Bond
Three main factors affect your bonded title cost:
- The appraised value of your vehicle
- Bond amount required by your state
- Other personal and state-specific factors
Approved Vehicle Appraisal
To determine the required coverage of your title bond, first, you need an official appraisal of your vehicle. This appraisal must come from a source approved by your state’s Department of Motor Vehicles (DMV). Common options include:
- A licensed vehicle dealer
- A certified appraiser
- An appraisal form or service listed on the DMV’s website
The exact requirements can vary, so it’s best to check your state DMV’s guidelines for accepting vehicle appraisals.
Bond Amount Required by Your State
The title bond amount, or the bond coverage, is determined by your state. Most states require a bond amount of 1.5 times the car’s value. Just a few common examples are Texas, Arizona, and Washington. There are also states such as Georgia, Florida, and California that require coverage of 2 times the value of the vehicle. The required bond amount must be written on the DMV website of your state.
Personal Credit Score
While most title bonds don’t require a credit check for standard amounts, surety providers may consider your credit score for higher bond coverage. In case a credit check is required by the surety, we always perform a soft credit pull. This is a type of credit check that does not impact your credit score.
Why Choose Bryant Surety Bonds?
Bryant Surety Bonds is licensed to provide all types of surety bonds, including title bonds, in all 50 states. We provide an easy online application, competitive rates, and a team of knowledgeable bond specialists ready to guide you through every step. Get your bonded title today!