Who Requires the Defective Title / Motor Vehicle Ownership Bond and Why Is It Needed?
The state of California requires Motor Vehicle Ownership Surety Bonds (aka Title Bonds) for certain individuals to establish ownership and properly register a vehicle. If the vehicle has a value of $5,000 or more and supporting evidence of ownership is not available, the vehicle owner must post a California motor vehicle ownership surety bond. The bond is written for a 3 year term and the required bond amount must be equal to the fair market value of the vehicle, which is determined in one of the following methods:
- by written appraisal by a dealer or a licensed motor vehicle insurance representative, or
- by Statement of Facts form showing the valuation of the vehicle based on information provided in a recognized industry motor vehicle valuation and pricing handbook, such as the Kelly Blue Book
The lowest and highest price valuations must be documented, added together and divided by 2 to get the required bond amount.
How Much Will My Surety Bond Cost?
Some California Defective Title / Motor Vehicle Ownership Bonds are offered completely online without a credit check or any paperwork. Surety Bonds Direct has access to the lowest bond prices available in the market for applicants with good credit and bad credit.
It only takes a couple minutes to provide us with the information required for a free, no-obligation quote. Or if you prefer, call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.
