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Should I buy a car with a bonded title?
Is buying a car with a bonded title a bad idea? I don’t fully understand what a bonded title is, but I found a car listed with one. I really like it. Should I buy it, or will I be falling into some kind of financial trap?
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s great that you’re being cautious since buying a car is a big financial investment! There’s nothing wrong with buying a car with a bonded
title
, as long as you understand the risks that come along with it.Bonded titles are issued when the original title was lost or destroyed. If someone else comes forward and claims that the person who sold you the car was not actually the owner of the vehicle, you might have to give up the car and seek compensation from the seller.
Depending on your state’s laws, however, a bonded title will usually be cleared by the DMV three to five years after the vehicle is sold.
If you do decide to buy a new car, check out the
Jerry
app to make sure that you get a good car insurance rate. Jerry does the hard work of collecting insurance quotes for you, so all you have to do is choose your favorite. Then, Jerry will help you cancel any old policies and sign up!View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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