Vehicle Surety Bonds 101: How They Work and All the Risks

Vehicle Surety Bonds 101: How They Work and All the Risks

Vehicle Surety Bonds 101: How They Work and All the Risks

While some surety bonds are based on your credit, a lost title surety bond is based strictly on the value of your vehicle. Most states require your bond value to be 1.5 to 2 times the vehicle’s value as determined by the DMV. You will only be required to pay this if someone else makes a successful claim against your bond.