A bonded title, also known as a surety bond or lost title bond, is a crucial document for individuals who have lost or cannot obtain a vehicle's original title. It serves as a financial guarantee to the state that you are the rightful owner and protects the state and previous owners from claims. The cost associated with obtaining a bonded title is typically comprised of several components, which this calculator helps to estimate.
How the Cost is Calculated
The total cost for a bonded title is generally determined by three main factors:
Estimated Vehicle Value: This is the market value of the vehicle for which you are seeking a bonded title. The higher the value, the larger the bond amount will be. The bond amount is usually a percentage of this value.
Bond Percentage: This is the premium you pay to the surety bond company. It's a percentage of the bond amount (which is based on the vehicle's value). This percentage varies by state and the surety company, but is often around 1% to 2% of the bond amount.
Base Administrative Fee: This is a fixed fee charged by the state Department of Motor Vehicles (DMV) or equivalent agency, and sometimes by the surety bond provider, to process the application, issue the bond, and ultimately issue the new title.
The Formula
The calculation performed by this calculator follows this general formula:
Total Cost = (Estimated Vehicle Value * (Bond Percentage / 100)) + Base Administrative Fee
For example, if your vehicle is valued at $15,000, the bond percentage is 1.5%, and the base administrative fee is $50, the calculation would be:
Please note that this is an estimation. Actual costs may vary based on your specific state's regulations, the surety bond provider you choose, and any additional fees that may apply. It's always recommended to verify the exact requirements and costs with your local DMV and potential surety bond issuers.
function calculateBondedTitleCost() {
var vehicleValueInput = document.getElementById("vehicleValue");
var bondPercentageInput = document.getElementById("bondPercentage");
var baseFeeInput = document.getElementById("baseFee");
var vehicleValue = parseFloat(vehicleValueInput.value);
var bondPercentage = parseFloat(bondPercentageInput.value);
var baseFee = parseFloat(baseFeeInput.value);
var totalCostElement = document.getElementById("totalCost");
var feeBreakdownElement = document.getElementById("feeBreakdown");
// Clear previous results and error messages
totalCostElement.innerText = "$0.00";
feeBreakdownElement.innerText = "";
// Input validation
if (isNaN(vehicleValue) || vehicleValue <= 0) {
alert("Please enter a valid estimated vehicle value.");
return;
}
if (isNaN(bondPercentage) || bondPercentage < 0) {
alert("Please enter a valid bond percentage. It cannot be negative.");
return;
}
if (isNaN(baseFee) || baseFee < 0) {
alert("Please enter a valid base administrative fee. It cannot be negative.");
return;
}
// Calculation
var bondAmount = vehicleValue * (bondPercentage / 100);
var totalCost = bondAmount + baseFee;
// Format and display results
totalCostElement.innerText = "$" + totalCost.toFixed(2);
feeBreakdownElement.innerHTML =
"Bond Amount (Premium): $" + bondAmount.toFixed(2) + "" +
"Base Administrative Fee: $" + baseFee.toFixed(2);
}