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If you really want the car, a bonded title is one way to do it, but its expensive and takes lots of time to end up with a clear title in your name, for most people its not worth it unless the car price is super cheap.
How long does a bonded title last in Mississippi?
Title Bonds in Mississippi are provided for a 3 year term. The bond amount must be 1.5 times the appraised value of the vehicle as defined by the state. You will need this amount from the state in order to request bond pricing.
What happens when you sell a car with a bonded title?
You cannot sell a vehicle with a bonded title without first obtaining the original title. If you default on the bond, the surety company may be able to seize the vehicle. A bonded title will show up on your vehicle history report.
How much does a bonded title cost in CA?
Whats the Cost of a California Title Bond? The bond cost is typically 1%2% of the bond amount (minimum premium: $150). However, only the DMV can determine your required bond amountcontact them before applying.
Do you get your money back from a bonded title?
Getting a Refund Refunds are not usual occurrences, nor are they required by the surety. If you are looking for a refund on your surety bond, contact the surety company that issued your bond.
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Mississippi Form 78 003Mississippi form 79-014Form 78-602Form 78-026Mississippi form 78 005Title FormsMs DMV FormAffidavit of Ownership form
If you paid the full amount of the bond then it will be returned to you at the end of the case (dismissed or not). However, if you simply paid a fee to a bondsman and the bondsman put up the money, you will not get a refund. The fee is what the bondsman charges for using his money to post your bond.
Do you get your money back on a bonded title?
In some cases, the principal may cancel the bond before a project begins. Unfortunately, you likely wont receive your money back for this surety bond. The same applies to other bonds.
What are the downsides of a bonded title?
One of the main risks of buying a car with a bonded title is that the vehicles history may be unclear. This means that there could be hidden problems or issues that may not be immediately apparent.
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