Are you a resident of the “Prairie State” and never received the title to your vehicle when you purchased it? Or perhaps you never registered your vehicle in your name and now you lost your title? You might be able to get an Illinois Bonded Title.
Short on time? Check out our Bonded Title FAQ page.
What Is An Illinois Bonded Title?
An Illinois Bonded Title (also known as an Illinois Certificate of Title, Illinois Lost Title Bond, or Illinois Defective Title Bond) is a document that proves you own your vehicle.
An IL Bonded Title looks just like a regular title, except in the “title brand” section of the title, it is marked ‘bonded.’ The branding implies a surety bond is attached to the title.
Why You Need To Purchase a Surety Bond
The purpose of an IL Bonded Title is to protect any previous owners of the vehicle and the state of Illinois.
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 Illinois Bonded Title:
You might qualify for a bonded title in any of the following situations, but this is not a complete list:
- You bought a car and never received the title
- You bought a car and only received a bill of sale
- You bought a car and received an improperly assigned title
- You bought a car, received, then lost the title before transferring it into your name
Please note that you do not need an Illinois bonded title in these situations:
- If you had the original title in your name at one point in time. In this case, you can apply for a Duplicate Certificate of Title.
- If you found an abandoned vehicle. You must own your vehicle to qualify for an IL Bonded Title.
Not sure if you need an IL Bonded Title? Check out this awesome infographic.
How to get an Illinois Bonded Title
Step #1: Contact your local DMV to see if you are eligible for a bonded title
Your local DMV is the only entity that can tell you if you are eligible for a bonded title.
While we, Surety Solutions, can provide you with information on when you might need a bonded title, we cannot say for certain. Only your local DMV can. Call your local DMV, explain why you do not have a title, and ask if you could get a bonded title.
If they say yes, you can move on to step #2.
Step #2: Prove you own your vehicle
Gather proof that you own your vehicle. Qualifying evidence could include a bill of sale, receipt, or canceled check from when you purchased your vehicle.
If none of these items are available, you must write a notarized statement explaining how you came into possession of your vehicle.
Step #3: Get a written appraisal of the current value of your vehicle
Step #4: Calculate your bond amount
Your bond amount must be 1.5 times the value of your vehicle (that you determined in Step #3).
For example, if your vehicle is valued at $2,000, your bond amount needs to be $3,000.
Calculate your bond amount, then move on to the next step.
Step #5: Purchase an Illinois Lost Title Bond
Purchase a bond from a surety bond company.
Make sure you apply for the correct bond amount that you calculated in Step #4.
You do not need to pay the entire bond amount, but you do need to make sure you apply for the right bond amount. Otherwise, your bond might be rejected by the DMV.
Surety Solutions, A Gallagher Company does not issue Certificate of Lost Title Bonds
Before you purchase your title bond – learn important payment info
Step #6: Complete a Title Application
You can do this online and print out. You will also need to pay a title fee, payable to the Secretary of State.
Step #7: Submit
Submit your Illinois Bonded Title paperwork and Illinois Lost Title Bond to the Secretary of State at the address below:
Secretary of State
Vehicle Titles Division
Attn: Bonded Titles
609 Howlett Building
501 S. Second St.
Springfield, IL 62756-7000
Step #8: Wait on decision
It could take up to a couple of weeks for the Secretary of State to process your IL Certificate of Title Bond paperwork. Upon approval, you will be mailed an IL Bonded Title. Your title will be marked “bonded”.
For more information on how to obtain an IL Bonded Title, call 217-782-9796
What it Means to be Bonded
When you get a bonded title, you are promising that you are the true owner 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 a 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 Ilinois Bonded Title Expire?
Yes, IL Bonded Titles expire 3 years after the date they are issued. The “bonded” brand remains on the title for the entire 3 years.
If no one comes forward during that time and makes a claim against your bond, you (or whoever owns the vehicle at the time), can go the DMV and apply for the “bonded” brand to be removed from the title. Upon approval, the DMV would then issue you a clear title.