Quote:
Originally Posted by 1956cameo
I bought an old suburban here in Texas back in October with no title. According to the Texas dept. of transportation, all of those out of state title companies are illegal and considered by the state to be fraud. I used to get my title thru those companies but now they wont accept them if they know thats where they came from. Worth a shot though if you want to save a few bucks.
If you dont mind spending a little more (around $200) and want to do it the legal way you can get a bonded title. Thats what I did with my burb and now I have a clear TX title in my hand. To get this you need a bill of sale from the previous owner, or someone that will say they were the previous owner. They run the vin and as long as it doesnt come up as stolen or having no liens you will buy a bond. The bond is around $100 then you pay the normal DMV fees like tax, registration, etc.. and about 4 weeks later you get your title.
The only thing is if anyone comes up in the next 3 years and says they are owed money on the vehicle and can prove it, you will have to pay the amount up to the amount of the value of the vehicle when the title was obtained. My burb was valued at $200 when I got my title so at the most in the next three years if someone proved they were owed money and had a lien on it I would have to pay $200. After 3 years the bond goes away and it is free and clear and yours no matter who comes out of the woodwork saying they have a lien on it. Also what are your chances of someone just coming up out of the blue and finally proving they have a lien on a vehicle that propably hasn't even been registered in 20 years.
|
who did you get your burban appraised by?