The New Mexico Lost Title Bond is required by the Department of Motor Vehicles. There is no set amount for the bond. However, according to Chapter 10 Section F, the amount should be double the value of the vehicle.
What is the purpose of a New Mexico Lost Title Bond?
When the title of a vehicle is damaged or cannot be produced, the motor vehicle department generally requests you to obtain a surety bond. The Lost Title Bond is very easy to get. To get started all we need is a completed application. We can get the bond approved with a very small premium.
Who does the bond protect?
The New Mexico Lost Title Bond does not protect you. It actually protects the Department of Motor Vehicles, in case someone else with the title claims that the vehicle is theirs. It protects past and future owners of the car, as well. If the title for a car cannot be produced, the New Mexico Lost Title Bond provides financial security. If a claim is made on the bond, the surety company will pay. The bondholder is responsible to repay the surety.
Where can I get a Lost Title Bond?
If you get in touch with us today, your application for a New Mexico Lost Title Bond can get approved within just one business day. All we need to begin the process is a completed application form.
We will then give you a quote for the bond premium. All you need to do is pay the said amount and then sign the paperwork. We will send the surety bond using USPS Priority Mail or overnight delivery.
Surety1 was started in 2003. We have been issuing surety bonds for all 50 states. We continue to maintain an A+ rating from the Better Business Bureau for our outstanding service.