How To Get A Car Title For A Vehicle Without A Title
If you're wondering, "How do you get a car title when you don't have one?" Our guide has an easy answer. Simply put, you cannot get a car title loan without a lien-free title. This means that you must own your car outright and that there are no liens or judgments against it.
Sometimes, you may purchase a vehicle but have yet to receive it. Thankfully, there are steps you can take to procure a car title and set yourself on a path to get an emergency car title loan if needed. Keep reading to discover how to get a car title for a vehicle without a title.
How Can You Get A Car Title For A Vehicle Without One?
To get started with securing a car title loan for a vehicle title, you should visit your local DMV with all the documentation you have from purchasing your vehicle. They will work with you to find the previous owner, who may have a title to sign over to you. If that doesn't work, you can apply for a bonded title in your name. It's a little different in that it has wording that can prohibit a transfer of ownership outside the state but is just as valid as a regular title.
Purchasing A Vehicle Without A Title
Let's start by saying it's not a good idea to purchase a vehicle from an individual who doesn't have the title. It doesn't necessarily mean anything wrong, but it could. Also, there are times when no vehicle title could pose a problem for you.
Generally, when you purchase a vehicle from a private party, they will sign the car title with their name, or names will be printed on the front of the title. Your name will be entered on the back in blue or black ink. This indicates a transfer of title to you, the new owner.
If there is no title to give you, then your proof of ownership is usually just the bill of sale. Sometimes, the bill of sale is simply a written statement by the seller stating they are selling you the vehicle for a stated amount. Both parties will sign the sale bill and take a copy. You must provide this document to the DMV to get a bonded title.
What Is A Bonded Title?
You can apply for a bonded title when a vehicle title is available. A bonding company will issue a surety bond that protects the DMV if another vehicle owner comes back to claim it. The surety bond is like an insurance policy for the DMV.
Typically, the bonded title won't have any claims brought against it. However, there could be a case where someone comes forward to say the vehicle is rightfully theirs even though you have it in your possession. The bonding company will pay the surety bond to the rightful owner if proven accurate. Then, you will be responsible for paying the bonding company.
That's not likely to happen, though, so your bonded title will work for you just like any regular title would.
How To Get A Bonded Title
It's not the most straightforward process to get a bonded title. You can't just walk into your local DMV branch office to apply. A separate office in Carson City handles these requests, so it would be best if you started by calling that office.
You'll need to complete an Affidavit for Bonded Vehicle Title and submit that, along with your ownership documents, to the Title Research Section that handles these situations.
From there, they will research the vehicle's history of ownership. They'll also look for any stolen vehicle reports. If nothing is found, they'll let you know what the bond amount needs to be. You will obtain the bond through the bonding company.
You'll finish a few more steps with the affidavit. Then, after you've submitted all required documentation, including the bond information, the bonded title will be issued to you and delivered through the mail.
You Can Use Your Bonded Title To Get An Emergency Auto Loan
Nevada Title and Payday Loans, Inc. will let you use your bonded title to secure a vehicle title loan should you need some extra cash. If you need to pay unexpected expenses, you can send us an inquiry about getting a title loan.
You can borrow up to $15,000 in Nevada, subject to the value of your car and its condition. We will hold the title to your vehicle as collateral while you repay the loan. Once you've paid it back, we hand your vehicle back to you.
Title loans are good options when extra expenses pop up unexpectedly. You make the equity in your vehicle work for you.
Get A Car Title Loan In Nevada Today!
If you purchased one without a tiltable, you can still get one. A bonded title will allow you to register and borrow money against it if needed. Bonded titles aren't simple or easy to get, but having something showing that you own the vehicle is worth it. A title allows you to register the car, get the necessary insurance, or borrow money against it. It's an essential document to have when you own a vehicle.
If you have a financial emergency, consider getting a car title loan from Nevada Title and Payday Loans, Inc. You can begin the process by filling out the online form today!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.