What is a bonded title in Arkansas?
A bonded title is a vehicle title with a surety bond attached. This surety bond is called a title bond (or certificate of title bond). Bonded titles allow vehicle owners who are missing their titles or have received a defective title to claim legitimate ownership of their vehicles.
The surety bond protects the state of Arkansas and individuals who may have security interests in the vehicle.
When do I need a lost title bond in Arkansas?
If you originally had the title to your vehicle in your name but lost it, you will need to fill out an Application for Title or Replacement Title. Follow the process on the Arkansas Department of Finance and Administration (DFA) website.
Get Your Arkansas Title Bond:
- Bonded titles allow vehicle owners who are missing their titles or have received a defective title to claim legitimate ownership of their vehicles.
- If you originally had the title to your vehicle in your name but lost it, you will need to fill out an Application for Title or Replacement Title.
- Title bonds are quickly issued, typically cost around $100, and have a 3-year bond period.
- After three years, you may apply for a clear certificate of title for your car.
When do I need a bonded title in Arkansas?
If you purchased your vehicle without a title, only received a bill of sale, lost the title before it was issued in your name, or received a title that was incorrectly assigned, you may need a bonded title. To be eligible for a bonded title in Arkansas, you must confirm (to the best of your abilities) that your vehicle isn’t subject to any of the following.
- Hasn’t been issued a junking certificate or similar title
- Isn’t subject to a mechanics or storage lien
- Isn’t stolen
- Is not involved in ownership litigation
How to Get a Bonded Title in Arkansas
Once you know that you need a title bond (after contacting the DFA Office) and are eligible to apply for a bonded title, follow these steps to complete the process.
1. Get an inspection.
An authorized law enforcement officer or the Arkansas State Police will need to inspect your vehicle and fill out a VIN inspection form for you. This guarantees that your car was not stolen.
2. Fill out a Statement of Facts form.
The Arkansas DFA Office of Motor Vehicle requires you to submit a Statement of Facts form to explain how you obtained your car.
3. Send your forms to the DFA Office of Motor Vehicle.
The address is located on your Statement of Facts form. A bonded title agent from the DFA Office will review your application and send you bond forms and a letter of approval (or a letter explaining why you weren’t approved).
4. Get your surety bond.
Your letter of approval will have further instructions and include the value of your vehicle. You can now obtain a surety bond for one and a half times the value of your car.
5. Submit your Arkansas bonded title application.
Once you’ve compiled all the required documentation (VIN inspection form, Statement of Facts, letter of approval, and title bond), you can submit your complete application to the Arkansas Office of Motor Vehicle. Once your application is approved, you will receive your bonded title.
Title bonds are quickly issued, typically cost around $100, and have a 3-year bond period. After the bond expires (and if no claims have been filed), there is no requirement for the bond. After three years, you may apply for a clear certificate of title for your car.
If someone files a valid claim on your bond during this period (e.g., claiming legal ownership of your vehicle), your surety will cover the costs to satisfy the claim. You must then repay them in full.
Get Your Arkansas Bonded Title
The experts at ZipBonds can help you obtain the title bond you need. To connect with one of our team members, please give us a call at 888-435-4191 or email us a at email@example.com. We’ll walk you through the process for title bonds to help you get bonded in a flash.
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.