If you’ve obtained a car but don’t have the title, often the Motor Vehicle Division will require the new owner to purchase what is known as a motor vehicle bond, or title bond, to ensure that they won’t be held financially responsible should the vehicle be reported stolen. By purchasing the bond you are agreeing that in the event it is stolen, the bonding company would pay for the stolen property but you would then be responsible to pay it back. The low likelihood of this actually happening and the low premium (usually around $100) balance out the high cost of such an event.
How do I get a Bonded Title?
If you’re required to obtain a title bond, the first step is to get the vehicle inspected from either a MVD or certified Third Party office.* The inspector will provide you with a list of the specific actions and documentation required, among which will be a “Bonded Title Affidavit” and a bond amount. This is what we need in order to issue your bond.
Once you have the appropriate paperwork – and only if you are bonding the vehicle in Arizona – you can fill out the form above or you may bring it to our office in person. Motor Vehicle bonds cost a minimum of $100. If the bond amount is upwards of around $6,670, the bond will cost $15 for every thousand, rounded up to the nearest dollar. If you choose not to pay online, you can bring or mail your check payable to McGhee Insurance to 6152 E 22nd St, Tucson AZ 85711. Please note that credit and debit card payments will include a convenience fee.
The bond amount is determined by the inspector and should be on your paperwork somewhere– it’s usually about 1.5 times the determined value. If the inspector forgot to put a bond amount on your paperwork, which happens sometimes, you’ll need to return to the MVD office that performed the inspection and have them fill in the bond amount.
Once you receive the bond from us, bring it to your closest Motor Vehicle Division for the permanent title.
We will keep your bond on file for the full 3 years it is active in case vehicle ownership is challenged, but we recommend you keep a copy as well.
* Some full-service Motor Vehicle centers like Donna’s Title and Academy of Driving may order the bond for you, in which case you will receive it directly from them. We will still act as your bonding agent though if vehicle ownership is ever challenged.