Quote:
Originally Posted by Puma
in my state you must get the car bonded, meaning you have to pony up a huge sum of money to the government relative to the market value. You don't get this money back and if someone comes forward and makes a claim to the car you'll have to fight them in court.
A while back someone offered me a free '71E with such a title. the government wanted a $16,000 bond based on the value of a concourse restored car. it wasn't worth it to me.
in my mind, this makes a car less valuable as a whole and more valuable as parts, unless you can find a buyer that only wants a dedicated track car.
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The bond should be based off of the fair value of the car. The bond is at 1.5x the value of the vehicle. You don't pay that amount though. You pay around $15 for every $1,000 in stated value.