Do you have a car in Arkansas, but no title? Maybe you never received the title when you bought your car, or maybe you only received a bill of sale. If you have a lost title Arkansas, you might be able to get an Arkansas Bonded Title.
Short on time? Check out our Bonded Title FAQ page.
What Is An Arkansas Bonded Title?
An Arkansas Bonded Title (also known as an Arkansas Certificate of Title, Arkansas Lost Title Bond, or Arkansas Defective Title Bond) is a document that proves you own your vehicle.
A bonded title is just like a regular title but it is marked “bonded”, meaning that it has a surety bond attached to it.
Why You Need To Purchase a Surety Bond
The purpose of an AR Bonded Title is to protect any previous owners of the vehicle and the state of Florida.
You can learn more about how the surety bond works and what it means to be bonded at the end of the article.
When You Might Need An Arkansas Bonded Title
You might be eligible for a bonded title in one of the following situations. This is not a complete list.
- You bought a vehicle and didn’t receive a title
- You bought a vehicle and only received a bill of sale
- You bought a vehicle and received an improperly assigned title
- You bought a vehicle, received, and lost the title before transferring it into your name*
*If you had the original title in your name at one point in time and simply lost your title, you can get a Duplicate Certificate of Title. Instructions for how to apply for a Duplicate Certificate of Title.
Not sure if you need an AR Bonded Title? Check out this awesome infographic.
How to get an Arkansas Bonded Title
Step #1: Contact DMV to make sure you are eligible
Your local DMV is the only entity that can tell you if you are eligible for a bonded title or not.
While we, Surety Solutions, can provide you with common situations where you might need a bonded title, we cannot say for certain if you are eligible.
Contact your local DMV, explain your situation, and ask if you could get a bonded title.
If they say yes, move on to Step #2.
Step #2: Get your vehicle inspected
Get your vehicle inspected by an authorized member of the Arkansas State Police. Once the inspection is over, you will be given a VIN inspection form completed by the authorized officer. This is just a precautionary measure to ensure your car is not stolen.
Step #3: Complete a Statement of Facts for Issuance of a Bonded Title form.
This form requires basic information about your vehicle, plus a brief accounting of how you came into possession of your vehicle.
Step #4: Mail
Mail your VIN Inspection Form and Statement of Facts to the following address: Department of Finance and Administration, Office of Motor Vehicle – Bonded Titles, P.O. Box 1272, Little Rock, AR 72203
If your forms are approved, you will receive a letter of approval with further instructions on how to move forward with getting your AR Bonded Title. If your papers are not approved, you will be sent a letter explaining why.
Allow 10 – 20 business days for processing time. If you have questions about the status of your paperwork, you can call 501-682-4679.
Step #5: Calculate Your Bond Amount
Your approval paperwork from the Arkansas Office of Motor Vehicles will list the value of your vehicle.
Multiply this value by 1.5 to get your bond amount.
For example, if your vehicle is valued at $2,000 then your AR Lost Title Bond amount must be for $3,000.
Step #6: Purchase an Arkansas Lost Title Bond
Purchase an Arkansas Bonded Title from a surety bond company. Make sure you apply for the correct bond amount.
You will not pay the full amount of the AR Lost Title Bond. Instead, you will pay a portion of this amount.
Surety Solutions, A Gallagher Company does not issue Certificate of Lost Title Bonds
Before you purchase your title bond – learn important payment info
Step #7: Submit
Submit your VIN inspection form, Statement of Facts, AR Lost Title Bond, and Bonded Title approval form to any regional Arkansas Office of Motor Vehicles office.
Processing a vehicle title can take up to three weeks. Upon approval, your AR Bonded Title will be mailed to you. Your title will be marked “bonded”.
What It Means To Be Bonded
When you get a bonded title, you are promising that you are the true owner of the vehicle and that you will take responsibility for any bond claims.
If someone comes forward later on and says that they are the owner of the vehicle and that you should not have been granted a bonded title, they can make a claim on your bond.
If the claim is determined to be valid, you would be responsible for satisfying the claim. Usually, this would mean financial compensation. The surety company would determine what is fair.
If you fail to satisfy the claim, the surety company would satisfy the claim for you. Then, they would come to you for reimbursement. Essentially, the bond holds you liable for your actions, no matter what.
Want more information about what happens if someone made a claim on your bond? Check out this resource.
Does My AR Bonded Title Expire?
Yes, Bonded Titles are valid for 3 years in Arkansas. The “bonded” brand remains on your title for those entire 3 years.
If no one comes forward and makes a claim against your Arkansas Lost Title Bond during those 3 years then you (or whoever owns the vehicle at the time) can go to the DMV and apply for the “bonded” brand to be removed. Upon approval, you will be issued a clear certificate of title.
If you decide to sell your vehicle before the 3 years is up, that is okay. Your name will remain on the surety bond, though, until the 3 years is up. You will be liable for any surety bond claims during those 3 years.
4 Reasons You Might Need a Bonded Title
So You Bought a Car without a Title Bond: Here’s What to Do Next