I have a bonded title on this car I just bought. Is there a disadvantage to that? I know the car now is officially in my name. When I go to sell the car in the future, would this be a hassle?I know the person BEFORE me who had the car looks bad because I had to get a bonded title because he had the car & I bought it from him, & he signed the titles (I didn't know it was in the wrong spot), & I already paid him cash. & records show that he never had the car in his name. & now I'm trying to get in touch with him & can't. & I can't get a lawyer because I have no receipts or proof of handing over my money to him-he was a private seller. This was my 1st time buying a car & I THOUGHT I had all my facts straight, but people gave me wrong information on how to go about buying a used car, but I'll NEVER buy another used car again! Next time I hope to have it BRAND NEW & paid in full.
2007-07-17 15:29:10 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
A bonded title is issued when proof of ownership has not been shown. Some states issue a three yr registration only, some offer bonded titles. Selling the car won't be a hassle, but if you sell before the three yr period is up, the buyer must continue with the bonded title, until the time period has expired. This may cause some potential buyers to flee, as they won't be able to get a clear title right away. For your comment of never buying a used car again, sure this was a bad experience for you, and may cost you in the end, but there are thousands of nice used cars available, buying new isn't always the answer.
2007-07-17 20:02:13 · answer #1 · answered by fisherwoman 6 · 1⤊ 0⤋
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2016-08-30 13:17:19 · answer #2 · answered by ? 3 · 0⤊ 0⤋
salvaged title means when the car was in an accident, the insurance company felt the repair cost was more than a certain percentage of the car's worth. Now if the car was worth 4000 and the repair was 2800 then they may call it totalled even though 2800 in damage isn't always that bad. The problem is Carfax doesn't tell the whole story nor does it show unreported repairs so it is not that reliable. I would keep looking because there has to be something better than a Cavalier out there.
2016-05-21 14:13:43 · answer #3 · answered by ? 3 · 0⤊ 0⤋
No, shouldn't be an issue. Just means the car had a title issue due to missing or incorrect title. After 2-3 year it is a non-issue. We antique car and street rod guys do this regularly. Lots of old cars have lost titles. No big deal - provided a previous owner doesn't claim the car. Sounds like you're safe here.
2007-07-17 15:51:55 · answer #4 · answered by hemirrhoid 3 · 1⤊ 1⤋
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2017-02-09 13:51:49 · answer #5 · answered by richard 4 · 0⤊ 0⤋
No, it will be fine. That title makes it all OK.
You are right, a brand new paid in full car would be perfect.
2007-07-17 21:15:19 · answer #6 · answered by Patti C 7 · 1⤊ 0⤋
i just found out that my car is on surety bond and i paid 14000 for it and now i am being told i cant sell it for more than 50% of its value is that true and why was i not informed of this when purchase was made
2014-08-25 09:11:00 · answer #7 · answered by michael 1 · 0⤊ 0⤋
whatever that is
2007-07-17 16:58:27 · answer #8 · answered by *Jenn* 6 · 0⤊ 1⤋