Illinois titles bond 2025

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The document outlines the process for obtaining a Certificate of Title for a vehicle when standard ownership documents cannot be provided. It details the requirement of filing a bond, either as a cash or surety bond, to protect the Secretary of State and other parties involved. The document specifies necessary submissions, including evidence of ownership, an appraisal of the vehicle's wholesale value, and completed application forms. It also clarifies that certain vehicles, such as abandoned ones or those under lien, are not eligible for this process.

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Click ‘Get Form’ to open the Illinois Titles Bond in the editor.
Begin by entering your personal information in the designated fields, including your name, address, and contact details.
Provide evidence of your right to acquire a title. This can be a bill of sale or a notarized statement if ownership documents are unavailable.
Attach a written appraisal from a licensed dealer that includes the vehicle's description and current wholesale value.
Select the type of bond you are applying for: Surety Bond or Cash Bond, and complete the respective sections accordingly.
Ensure all required signatures are included, especially from the appraiser and any necessary parties.
Review all entries for accuracy before submitting your completed bond application to the Secretary of State’s office.

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Versions	Form popularity	Fillable & printable
2019	4.8 Satisfied (245 Votes)
2015	4.4 Satisfied (333 Votes)
2010	4.4 Satisfied (531 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is it hard to sell a bonded title car?

You can still sell your car while it has a bonded title, although youll need to disclose to any potential buyers that the car has a bonded title. The person who purchased the bonded title will remain responsible for the surety bond until the title becomes clear.

Is buying a car with a bonded title bad?

Yes, it is legal to buy a car with a bonded title.

Does a bonded title ever go away?

A Bonded Title and a regular title function exactly the same and allow you to register, insure and sell your vehicle. The bonded brand can be removed from your title usually within 3-5 years (depending on the state you live in). The 3-5 year time period starts from the date the original bonded title was issued.

How much does a $20,000 surety bond cost?

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Average Credit (600-675) $15,000 Surety Bond $150 - $450 $450 - $750 $20,000 Surety Bond $200 - $600 $600 - $1,000 $25,000 Surety Bond $250 - $750 $750 - $1,2509 more rows

How long does it take for a bonded title to come in?

Once you receive your bond, take it to your licensing office and file for a bonded title. The approval process can then take 45 weeks depending on the state.

Should I buy a car with a bonded title?

Most of the time, it is okay to purchase a car for which you need a bonded title. You just need to do your research on the car and make sure it is not a stolen car. You may need to go with the previous owner to the police department to inspect the car to make sure that it is not a stolen car.

How much does a bonded title reduce value?

One of the main reasons people go for bonded titles is the opportunity to purchase a car at a lower price. For instance, a cars value can be up to 40% lower if it has a branded title and even more if the title is missing.

What are the bond requirements in Illinois?

Appraisal management company Illinois bond - companies that carry out appraisals on real estate are required to post a $25,000 bond. The bond ensures that appraisal companies adhere to the rules and regulations that are set for valuing pieces of real estate.

Illinois titles bond 2025

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