Can I Register My Car With a Bill of Sale
Are you wondering if you can get a title with just a bill of sale? Well, the answer is yes, to get a title with your bill of sale first obtain a surety bond to confirm there are no liens on the car.
Once you have a surety bond, you can obtain a bonded title from the secretary of state.
If you have just purchased a car, you may be wondering "can you get a car title with just a bill of sale?" TFC Title Loans isn't the DMV so we aren't exactly related to this question.
Bill Of Sale Title
Nonetheless, we believe we have a duty to our all of our past, present, and potential clients to financially educate, equip, and empower them so that they might be able to build a brighter financial future for themselves and their loved ones.
This is the reason we seek to answer questions even if they aren't directly related to our business; because we care deeply about our customers. Let's discuss, 'can you get a car title with just a bill of sale.'
How To Get a Car Title with Just a Bill of Sale
As one of the oldest title loan lenders, we have been able to stick around for so long because of our willingness to go above and beyond for our customers.
Since we opened our doors in 1994, we have further decided that we ought to go the extra mile to educate, empower, and equip those who aren't presently or may even never, be our customers.
We have been actively expanding our website to include informative resource pages covering questions like 'how to get a title for a car with a bill of sale' and topics from the buying/selling of cars to financial planning.
Can you Get A Title With A Bill Of Sale?
In this informational article, we will be explaining to you what a bill of sale is, how to get one, and how to get a title for a car with a bill of sale.
Our second-to-none customer service has drawn thousands of consumers to our doors to obtain title loans. We value consumer education very highly so if you need more information on this topic, then please continue reading.
However, if you stumbled across this page because you are interested in receiving a title loan from us, then fill out the online application today!
The online process is simple, quick, and easy. You'll find out if you've been approved in a matter of minutes and you can use the funds in any way you please.
Remember, paying off your loan promptly will help you build your credit and ensure your car isn't going to be repossessed!
Bill of Sale v Title
A bill of sale is always an important item to have, especially when you are have bought a vehicle from a private party and are wondering how to get a title for a car with a bill of sale.
The bill of sale is necessary for the buyer's and seller's records. A bill of sale is proof that you legally bought the vehicle.
It acts as a kind of contract to transfer ownership of the car to you. Your local DMV should carry a bill of sale form that you can use while some states also accept generic bill of sale forms.
Regardless, these are the facts that every bill of sale usually calls for:
- The selling price of the car.
- Vehicle Identification Number.
- Vehicle's license plate number.
- Date and location of the transaction.
- Names, addresses, and signatures of both the buyer and the seller.
Read more about a bill of sale from https://www.investopedia.com/terms/b/bill-of-sale.asp.
What's A Bill of Sale?
Purchasing an item from a private seller is usually simple and easy. A written record of sale, or a bill of sale, is crucial especially if you're purchasing a vehicle, electronics, or any items with a serial number or of value over $100.
A bill of sale is a simple document that identifies the buyer, the seller, a description of the item, the amount paid, and the exact date.
The bill of sale should be signed by both the buyer and the seller. You can use an online bill of sale template. Or, prepare a bill of sale at home and carry it when looking to purchase from private sellers.
Or, you can handwrite one on the spot if needed. Make sure you're protecting yourself when buying from a private seller!
You might be wondering if you can register a car with just a Bill Of Sale, we will be happy to answer that question.
Can You Register a Car With Just A Bill oF Sale And No Title?
If you have your bill of sale, then take that and a few other necessary identification documents to the DMV. They will then be sending you a letter shortly afterward.
This is to inform you of the cost of the surety bond that you need to buy from an approved insurance provider. By doing so, you'll be able to obtain a bonded title.
Bonded Title Meaning
Buying a surety bond confirms that the vehicle is free and clear of all liens on a car title or any other issues with the car.
Once you can confirm this by buying the surety bond? You will be able to be listed as the new owner.
What is a surety bond?
A surety bond is a three-party agreement that legally binds together:
- A principal that needs a bond
- An obligee who requires the bond
- A surety company that sells the bond
The bond guarantees principle and acts by certain state laws. If the principal's performance fails in this manner, the bond will cover resulting losses or even damages.
Often unnoticed, surety bonds tend to play a major and crucial role. This is true especially in countless industries throughout the entire United States of America.
Almost all surety bonds are required at a state level and regulations tend to vary greatly from state to state.
Obtain the Bonded Title
Once you can obtain the surety bond, you will have a certain amount of time to apply for a bonded title that would allow you to be named as the legal owner of the vehicle.
Take your proof of bond and other necessary documents back to the DMV. A bonded title is provided to you by the secretary of state once they have reviewed your bond and your letter from the DMV.
When you get the bonded title, you will then be free to do whatever you wish with the car: you can register it, buy car insurance, or even get a title loan on it.
What Does Bonded Title Mean?
A bonded title is a document that proves a person's ownership of a motor vehicle, like a car. It can be used instead of a standard vehicle title. This is done to register the car with the DMV, buy insurance for the vehicle, or sell the car outright.
Bonded titles are typically obtained by filing with or through your local DMV.
What can a Bonded Title be Used for?
A bonded title can be used for several purposes. This includes:
-
Determining vehicle ownership for legal purposes like used-car scams
-
Preventing liability when selling a vehicle
-
Allowing the car owner to buy insurance or register the vehicle with the DMV
Getting a Car Title with a Bill of Sale
So, can you get a car title with just a bill of sale? Yes! We hope that you have found this resource article both educational and informative!
Especially on how to get a title for a car with a bill of sale. However, if you have any leftover questions, we encourage you to give us a call today.
We would love to answer any questions you might have. Interested in getting a car title loan with us?
Please fill out our online application or give us a call today! We would love to work with you! Getting you the title loan you need, with just a bill of sale is possible, and we will walk you through the process.
Bill of sale title loans, can take a little longer to fund, as each state's DMV is different, so it will depend on the state you live in, on how quickly and how easy it will be to get a title loan with just a bill of sale.
Read more about the DMV.
Can You Get a Car Title with Just a Bill of Sale?
According to America's new leader in car title loans, TFC Title Loans, a bill of sale is not enoug to secure a title loan. You must own the vehicle title and be able to present it.
Do car title loans work the same as home title loans?
Yes, both title loans are given based on the value of the owned property.
Can I get a second car using a title loan?
Absolutely. The key is using the first car's title to put a down payment on your next vehicle. You can build a car collection quickly using this strategy. If you have any questions about which new or classic cars to buy, ask TFC Car Title Loans.
Can I Register My Car With a Bill of Sale
Source: https://tfctitleloans.com/can-you-get-a-car-title-with-just-a-bill-of-sale/