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How to Get a Bonded Title in Michigan?

At Surety Bonds Agent, we offer a full range of surety bonds nationwide through an extended carrier network. Continue below to learn more about Michigan’s bonded titles. If you have additional questions or want to explore bonding solutions for your business, speak with one of our knowledgeable surety bond experts.

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What Is a Bonded Title?

A Michigan bonded title provides a way for those who lack a title for a vehicle acquired through a private sale to register the vehicle in their own name. A bonded title enables a vehicle owner to do anything that can be done with a standard title—register it, or sell it, donate it, or otherwise transfer ownership to someone else. The only thing that distinguishes the two is the “BONDED” brand.

img Who Needs Them?

If you do not have a title for a vehicle you have purchases, it’s most likely because:

  • You did not receive one from the seller
  • You received a title that is invalid because it was fraudulently altered, improperly assigned, or illegible
  • You received a valid title, but it was lost or stolen before you were able to register the vehicle in your own name

You may get a bonded title if the vehicle was last titled in Michigan, is no more than ten years old, and is currently valued at $2,500 or more. If the vehicle was last titled in another state, the age restriction does not apply.

img How Do They Work?

If the surety finds the claim to be valid, the surety will pay it, even though the legal obligation to pay claims belongs to you as the principal. But you must then reimburse the surety for the claim amount. Failure to do so can result in the surety taking legal action against you to recover the funds.

What Are the Steps in the Bonded Titling Process?

In Michigan, bonded titles are issued by section 217(1) (d) of the Michigan Department of State. Check with your local DMV first to make sure the vehicle is eligible. To obtain a bonded title, you must submit your completed title and registration application to the Department of State, along with a three-year Vehicle Uniform Surety Bond, commonly referred to as a Michigan title bond.

In purchasing the bond, you must specify the vehicle’s current fair market value as determined by a licensed motor vehicle dealer or a recognized source of accurate vehicle valuations, such as Kelley Blue Book. The bond must be for an amount that is twice the vehicle’s fair market value, with a minimum amount of $5,000.

 

Why is a Title Bond Required?

The bond is your guarantee that the vehicle belongs to you and your pledge to pay damages to someone who is able to prove their ownership of or lien against the vehicle during the three years that the bond is in force. The bond also indemnifies the state of Michigan (the “obligee”) and the bond’s guarantor (the “surety”) against any responsibility for a financial loss experienced by the vehicle’s true owner or lienholder or someone you sold the car to as a result of you having been issued a bonded title. As the bond’s “principal,” you are legally obligated to pay any valid claim against the bond.

If no claims are received during the bond’s three-year term, you can exchange the bonded title for a standard one.

 

 

costs

What Do They Cost?

Michigan title bonds for more than $25,000 go through an underwriting process; bonds for lesser amounts are typically sold for a flat fee based on the coverage amount. The main underwriting concern is the risk that the surety will not be repaid for claims paid on the principal’s behalf.

That risk is measured largely on the basis of the principal’s personal credit score. A high score = low risk = low premium rate. A low score = higher risk = higher premium rate. The average premium rate is in the range of one to three percent.

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There’s no obligation, and we can often help you get bonded in 24 hours or less.

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step by step guide

How Do Michigan Title Bonds Work?

  • Choose Your Bond Type

    Select the bond you need — commercial, contract, or any specialized bond. We help you find exactly what is required in your state.

  • Submit a Quick Application

    Complete a short online form. It only takes a few minutes, with no extra paperwork or long verification steps.

  • Get Approved & Receive Your Bond

    Get fast approval and receive your bond instantly by email. Your document is ready to use right away.

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Why Work With Us?

Easy Application Process

Simply fill out our convenient online application form to get started.

Extensive Carrier Network

We work with a wide range of carriers to provide many options to our clients.

Competitive Rates

As an independent agency, we can leverage our carrier network to find the most competitive rates for the bonds you need.

Quick Turnarounds

We work to get you bonded as quickly as possible, often in 24 hours or less.

Exceptional Service

Our experienced surety bond agents provide personalized assistance to help you understand your bonding requirements and options.

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Testimonials

What our customers say about us

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Contractor

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Small Business Owner

Super easy process. I found the bond I needed in minutes and received the approved document the same day. Great experience overall.

Emily R., Business Owner
Oberman & Oberman

The application was fast, the support team was responsive, and the pricing was clear. Very smooth and professional. Everything was explained clearly, and I appreciated how quickly I received my bond.

Jason M., Contractor
Oberman & Oberman

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