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#1 |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Bonded Title!!! 1967 GMC
Today was the day,
I finally went to the DMV and turned in the paperwork for the bonded title. Everything looked good and they processed the paperwork. Two weeks from now, if it passes the review board, I'll have the bonded title in my hands. Sadly she will stay under the awning at the barn for now. Too many others ahead of her. Thomas
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale Last edited by 67Mach1; 05-09-2011 at 07:26 PM. |
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#2 |
R.I.P. E.S.L.L.
![]() ![]() Join Date: Aug 2005
Location: Kernville CA./ Lake Isabella CA.
Posts: 11,419
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Re: Bonded Title!!! 1967 GMC
Well she'll be waiting for you when you get to her...with title.
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1971 Custom C/20 ![]() 1970 CST 20 1970 C/30 Flatbed 1983 C/30 Dually 2015 Corvette Z51 2021 Corvette Z51 1991 Cadillac Hearse 1982 Cadillac Eldorado Biarritz 2000 Porsche Boxster S 2020 Jeep Gladiator 1973 VW Thing 1973 Plymouth Satellite wagon 1963 Baja Bug 1959 Bug Dune Buggy 1970 Baja Bug 1987 Jaguar XJ 350. R.I.P. El Jay R.I.P Jessie. R.I.P Grumpy. Every day is a gift from God. |
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#3 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
Should have done this last year when i first got it. there would be only two years left on the bond... Live and learn, live and learn...
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#4 |
its all about the +6 inches
Join Date: Jan 2001
Location: Hilliard Ohio
Posts: 2,693
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Re: Bonded Title!!! 1967 GMC
yep, never put a single penny into them before they belong to you. I came close to discovering this the hard way on my longhorn.
I would at least wash the mold off of that and wax it to prevent more mold before it gets worse. The mold will hold moisture against the metal inside the paint. |
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#5 |
Registered User
Join Date: Oct 2009
Location: Tucson, AZ
Posts: 186
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Re: Bonded Title!!! 1967 GMC
I learned a lesson 3 years ago. Now I wont buy any vehicle without a clear title in the persons name that owns it. Hope it works out for you
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#6 |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
So far I ahve been lucky. THis is the second Bonded title that I have done and I have two others that need it. It surely does make buying them harder, Unless I get a BOS signed by the seller I wont touch them. At least this way, I 've got someting to go back on with the police/DMV should they ever come calling.
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#7 |
1965 Chevy C10, 2005 4.8L/4l60
![]() Join Date: Aug 2004
Location: DFW Texas
Posts: 8,541
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Re: Bonded Title!!! 1967 GMC
67Mach1
I passed on a real nice BBW cab ( 64) because he didnt have a clear title, he said I could get the bonded title but I was scepticle about that kind of title. tell me about your experience, how did you find the truck, what was the title status etc. Thanks,
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Clyde65 Rebuild of Clyde http://67-72chevytrucks.com/vboard/s...84#post8338184 69 Aristocrat Lo Liner build http://67-72chevytrucks.com/vboard/s...84#post7561684 ![]() ![]() ![]() support our troops! |
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#8 |
Registered User
Join Date: Aug 2010
Location: Hutto,Texas!!
Posts: 160
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Re: Bonded Title!!! 1967 GMC
I wouldn't worry about it .You should just sell it to me for what you have in it after the title clears.I don't mind a bonded title.You know I need a gmc.That will be a good looking truck in the future.
When are you gonna have breakfast with us again? Dan
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65 c-10 swb,bbw,step,402/t350,sold!! 1979 c10 Silverado,250,auto,gonna have a 3/5 drop,and twice pipes!Sold Bought the wife a 84 gmc short step |
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#9 |
Registered User
Join Date: Apr 2011
Location: Lockport, IL
Posts: 27
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Re: Bonded Title!!! 1967 GMC
As long as you got the title insurance there is virtually no way you can lose money. If there is a lien on the truck the insurance will pay it, they would have the option to take the truck but nobody is going to take a 40 year old vehicle. They'd rather have their money.
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#10 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
Dan, with negotiable title she is worth at least 5-10 dollars more than what Ive got in it now. I've got to make a profit sometime, ya know. Yeah, I've got a really good 67 bed for it or I'll just swap it over to that short bed frame and bed that no one wanted to buy. Drop in a straight six and motor on down the highway. Let me know where and when and in two weekends I'll be there.
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#11 |
Registered User
![]() Join Date: Jan 2009
Location: marion nc
Posts: 588
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Re: Bonded Title!!! 1967 GMC
mach1, did they send a dmv inspector out to look at the truck? just curious. me and my dad are restoring a 73 cuda for a man, and he bonded the title. car was at our shop and a dmv inspector came down and took some photos, done some paper work. about 2 weeks later the owner said he got title in mail, and said start working on it. i guess each state has its own process.
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69 short fleet 350/350 "under construction" 70 short step 307/3 speed |
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#12 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
I know when someone brings a vehicle in from another state it is required to be inspected before a Texas title can be issued.
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#13 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
Truck was advertised on Craig's list as a farm truck for sale. Photos looked clean. I went and looked at it. Two days later made decisionto buy and called seller. He had just sold it and three other trucks to a guy in a neighboring town. The origional seller was selling property and needed them gone, but he did give the other guy my name and his to me. A couple phone calls later and I picked up the truck from the "new" old owner. Title history I was told was that origional seller purchased from owner for parts no title changed hands. Lawrence Title is the way to go on these. THey will also check to see if the vehicle was reported stolen or has an insurance claim against it. Also Liens from banks that would have to be paid off first. Good guy. Bill of sale is pretty much a requirement though and if the seller will not give you one back away and dont go back. T
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#14 |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Guys, Sorry it has been forever since I've come back to this post. I need to learn to subscribe to them more frequently.
Yesterday I went to the Mailbox and sitting there waiting for me was the TEXAS TITLE to the GMC. 19 days to get it back after filed not too bad. Clyde65, the process is pretty simple. Just make sure that you have a bill of sale from the person you are buying it from. I used Lawrence Title out of Taylor, TX he used to work for the Texas DMV and for 100.00 american he will do all the paper work for you. All you will need to do is get the bond and then file with the DMV. The only real scare is that they will send a letter to the owner of record on the title letting them know that the bonded title process is going on with the vehicle. At which time they can respond and challenge ownership, they have three years to do this. Another way to go is to fil out the form at DMV to find out the true owners name on the title. THen attempt to contact them this cost ,I think, 5 bucks however when you fill the form out check the appropriate box as this is only supposed to be used for "official" business needs and goverment business. Dan, Ive got all you need to build one sweet GMC. COme on out and lets talk about it. Someday I'll start on this one myself, beat me to it. I've just been super busy on the weekends lately. Yesterday I pulled this out of the garage and cleaned it up. My focus has not been on Chevy trucks lately. I'm out for next weekend also due to a family event, but I'll be there after that. You wil have to remeind me of the time and if its at a new place or not.
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#15 |
Account Suspended
Join Date: Jul 2006
Location: DFW
Posts: 1,427
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Re: Bonded Title!!! 1967 GMC
I think with a bonded title, the previous titled owner's only compensation is the money behind the bond you bought. Your liability is that if the insurance company pays off on the bond, they will then want that money back from you.
So there's no need to not work on the truck for fear of a past owner appearing. You can also legally sell the truck with as a titled vehicle as well. I did a bonded Texas title on a Chevelle I used to have so I'm not making this stuff up. ![]() I've been told a mechanics lien is the quicker, easier, and cheaper solution BTW. I guess you have to have or know someone with a shop I guess. Last edited by 72lb4x4; 05-29-2011 at 11:06 AM. |
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#16 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
I didnt dig further because the bond was not for a lot of money. Years ago I did a mechanics lean on a car and it was very fast but I ended up paying 200 for the process. Which was about what I paid for this one.
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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#17 |
Registered User
![]() Join Date: Jan 2006
Location: Peyton, CO
Posts: 448
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Re: Bonded Title!!! 1967 GMC
Over the course of a number of years and states, I've done around 10 bonded titles and/or mechanics liens. I guess I've been extremely lucky because I've never had a problem with any of the vehicles. The '41 Plymouth listed in my signature block is, in fact, a mechanics lien title. On a mechanics lien, the individual holding the title has to do some required advertising in local publications (such as local Newspapers, Wheel Deals, etc.) and wait a required time to see if anyone responds with a claim to the vehicle. After the required waiting period (for example, in Colorado I believe it's 30 days), they fill out the necessary paperwork for the state and you take the paperwork (advertisements, state forms, etc.) to the DMV. At the DMV they process the paperwork like any other title and you either walk out with the title or, in some cases, the title is mailed to you. I've been getting my titles in a matter of 3 - 4 weeks, and often less than that.
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don "The DRBMan" 2014 Audi A4 (The Wife's Daily Driver) 2017 HD Ultra (The Cruiser) 2003 HD Fatboy (The Ride) 2001 Chevy Suburban (Another back up!!) For the first time in forever, not a single 67-72 Chevy truck, Blazer, or Suburban on the property! Basically retired and getting the new Motorhome ready for some traveling. Doing a bit of work on the house getting it ready to sell! LOL!! |
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#18 |
Registered User
Join Date: Oct 2009
Location: Tucson, AZ
Posts: 186
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Re: Bonded Title!!! 1967 GMC
Wow! The process in Texas moves quick. Ive talked to guys here in IL that have waited for years on their titles. On average from what Ive heard/read it takes 3 years here and the amount of money you have to put up is based on a collectors guide value. The car I bought with a messed up title I sold rather than go through the red tape. Glad yours worked out well
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#19 | |
Senior Member
![]() Join Date: Nov 2005
Location: Round Rock, TX
Posts: 1,100
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Re: Bonded Title!!! 1967 GMC
Quote:
What has not been covered here is that last year Texas did change their processing rules on bonded titles. It's actually why I did not get the bond earlier. The cost of the bond alone was going to overtake the purchase price of the truck for me and I simply did not want to invest that much money into a cab and clip donor as I saw it. The Title company said the DMV had also gone to the Collectors guide for any venicle 25 years or older and used average value pricing and the bond had to be 1.5 times that value. Apparently they also said there was a wave of resistance from consumers agains this as the number of bonds issued and bonded titles fell into the dirt. I kept calling every month or so for exactly one year back to the title agency before I found out that the rule was changed to SOmething like any vehicle with a BOS of under 4000 was bonded at 1.5 times 4k. Texas used to have a bonded court and hearing program but somewhere down the line changed it to expedite the process. If I wanted I could still request a hearing but thats what the paperowork is for, I turn it in and they have a closed door review of paper work and make a decision. This is my second one and this one actually went faster than the first. The one mechanic's lean I did about 10 years ago did have a 30 day wait list after sending out certified leters so it was actually a little longer once you add in the advertising and waiting periods. I dont know if I could wait 3 years just for the title and totally understand walking away from something because of this. I'm just glad it had a positive result for me so far. C
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Soon to be selling all but one, or two... Depends on what the Boss has to say....... 67 GMC Shortbed 454 Project more junk and most of it is for sale |
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