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Moto recycle.

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james robert
honda305.com Member
Posts: 52
Joined: Thu Jun 09, 2016 9:06 pm
Location: Fort Smith Arkansas

Moto recycle.

Post by james robert » Mon Jul 25, 2016 12:31 pm

Has anyone used this service. And what do you think about it.

Thank you.

catterar
honda305.com Member
Posts: 92
Joined: Thu Aug 30, 2012 3:21 pm
Location: Angier, NC

Post by catterar » Mon Jul 25, 2016 2:55 pm

I haven't used this service, but I did my own leg work to obtain a title for my bike.
I don't know how things work in Arkansas but this is what I did in NC.

I went to the local license plate agency here in Angier and asked them what I would need to obtain a title for the bike.

They said I would have to have a DMV License and Theft Officer come and inspect the bike and run a check on it to make sure it was not listed as a stolen vehicle. Next I would have to obtain an indemnity bond for one and a half times the value of the vehicle. I asked who determined the value of the vehicle and they printed out a form based on the VIN/Frame Number listing that the state valued the bike at $100.00. At that point no one from the state had seen the bike. They also gave me a form to fill out and have notarized that would need to accompany the indemnity bond.

I contacted License and Theft they came out and inspected the bike and completed their own multi-page form that they submitted to DMV. I only got a copy of the first page to submit with my application.

Next I went to my insurance agent to inquire about an indemnity bond. His company did not do indemnity bonds but he sent me to a company that did. The $150.00 bond cost me $100.00. For that amount if anyone came forward and proved that they were the rightful owner of the bike, they would get the value of the bond and I would get to keep the bike.

I submitted all the required paperwork along with a copy of the bill of sale that the previous owner had given me, paid another $45.00 in additional DMV fees, and about 4 weeks later I received a valid NC title in the mail.

All in all it took me about 3 hours, not counting the wait for License and Theft to fit me into their schedule.

Good Luck

james robert
honda305.com Member
Posts: 52
Joined: Thu Jun 09, 2016 9:06 pm
Location: Fort Smith Arkansas

Post by james robert » Mon Jul 25, 2016 5:02 pm

Catterar, Thanks for the response. I've been surfing and found what is required for a bonded title in AR. Its a bit different then NC I would not have to have an officer inspect the vehicle. Instead you fill out a statement of facts. To receive a bonded title in Arkansas, the owner must complete a Statement of Facts for Issuance of a Bonded Title. This form asks for the make, model and VIN of the car as well as certifications that the car has not been salvaged or stolen, or does not have liens placed against it. There is also a section that asks for a brief accounting of how the owner came into possession of the vehicle, including the name of the seller or donor. The completed form can then be mailed to the Arkansas Office of Motor Vehicles at the address provided on the form.

Then bonding. If the request for a bonded title is approved, the OMV mails out a letter of approval to apply for bonding as well as a valuation of the vehicle to the owner. In Arkansas, the required bond amount is 1.5 times the state’s estimated value of the car. For example, a car valued at $15,000 would require bonding of $22,500. This paperwork can be submitted to a surety bond company, either in person or online. The cost of the bond will vary depending on the issuing company and the value of the car. After approval, the surety company will issue a certificate of bond to the vehicle owner.

I have no idea what they will estimate the value at?

Then there is a three year wait for a real title.

After receiving the certificate of bond from the surety company, the vehicle owner can submit it along with the VIN inspection, statement of facts and the bonded title approval form to a regional OMV office. According to the Arkansas Department of Finance and Administration, processing vehicle titles takes a minimum of three weeks, after which the bonded title can be mailed to the owner. After three years, the bonded title can be exchanged for a standard certificate of title.

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