What is a bonded title in Wyoming?
A Wyoming bonded title is a certificate of title with a surety bond attached. The surety bond is called a title bond and protects parties that may suffer due to you claiming ownership of your car. A bonded title allows you to insure, register, and sell your vehicle legally.
If you don’t have the original title to your vehicle and can’t prove ownership using a bill of sale or other forms of evidence, you may need a bonded title.
How do certificate of title bonds work?
A Wyoming title bond ensures that you are the legal owner of your car. The bond protects parties that may suffer financially if you’re issued a certificate of title. If someone comes forward claiming that you’re not the true owner and makes a valid claim against your surety bond, you will be responsible for covering all damages involved.
Get Your Wyoming Title Bond:
- By obtaining a Wyoming title bond, you’re promising that you’re the vehicle’s legal owner.
- A bonded title allows you to insure, register, and sell your vehicle legally.
- If someone files a valid claim against your surety bond, you will be responsible for covering all damages involved.
- In Wyoming, you won’t need a bonded title if your car is worth less than $2,500.
- Wyoming title bonds are quickly issued, typically cost around $100, and have a 3-year bond period.
Who needs a Wyoming bonded title?
If you purchased your vehicle and never received the original title, your title was incorrectly assigned to you, or you lost it before transferring it to your name, you may need a bonded title. In Wyoming, you won’t need a bonded title if your car is worth less than $2,500.
Note: If you had a title in your name but lost it (or it was stolen or destroyed), you can apply for a duplicate title rather than a bonded title.
How to Get a Bonded Title in Wyoming
Before proceeding with this process, contact the Department of Transportation (DOT) to ensure you’re eligible for a bonded title.
1. Search title records.
The Wyoming DOT Motor Vehicle Services will run a title search on your vehicle. You’ll learn if any active liens or previous record-holders exist.
If you learn of a previous owner, you must send them a certified letter in the mail, requesting they transfer ownership over to you.
Also reach out to any active lienholders. Contact them via certified mail to request that they release any liens. Once you’ve done both tasks, you can move to the next step. You can’t proceed until active liens have been lifted.
2. Get a VIN inspection.
Law enforcement must complete this for you.
3. Fill out an affidavit of ownership form.
In the Wyoming Affidavit of Vehicle Ownership form, you’ll explain why you cannot obtain the original title to your car or lien information (if applicable).
4. Learn the current value of your vehicle.
You can use any of these methods to establish the retail value of your car:
5. Get a Wyoming title bond.
If your vehicle is worth more than $2,500, you’ll need a surety bond. Your bond must be worth twice the value of your car. You can purchase a title bond from a trusted surety provider like ZipBonds.
6. Submit your application.
Compile your documents – proof of your title bond, the affidavit form, and your VIN inspection form – and take them to your local county clerk’s office. They will advise you on your next steps and if you need anything else to meet the requirements for a bonded title.
You’ll receive a bonded title when your application is accepted and approved.
Wyoming title bonds are quickly issued, typically cost around $100, and have a 3-year bond period. After the bond expires, there is no requirement for the bond, and no one may challenge your ownership claim. You will be eligible for a standard certificate of title.
Get Your Wyoming Bonded Title
The experts at ZipBonds can help you obtain the bond you need. To connect with one of our team members, please give us a call at 888-435-4191 or email us 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.