Has anyone ever used mustangtitles.com? I was planning on doing that with my Cadillac, but now I'm worried. And if I have to finish my car before getting a title, well...that's going to be years and NADA low retail is $15,000, so that means I need to put up at least $23,500 cash for a bond for 3 years??
I think most of you are missing a very important point here they are checking and verifying VIN numbers on the car and if you have re stamped either they can and are in some instances confiscating the vehicles! To re stamp either in Illinois is a felony! So to apply another open title to any vehicle is a felony!! Proceed at your own risk but imo it is not worth it to short cut the system. Just follow the legal process and it will work just a pain and takes some time.
You can buy title bond insurance for a nominal fee you don't post cash for 1 1/2 times value. Any insurance company will issue a title bond I got mine thru State Farm Insurance and the fee for the three years was $75!
Thanks for the information on title bond insurance from State Farm. That will get me motivated to finish the old woody. I am still wondering about the resale before three years is up. Does anybody know the legality of this?
My understanding is a Bonded title is just like any legal title it is just backed by a bond to protect against any challenge for 3 years. The actual title has no indication that it it a Bonded title.
The way mine came through was just as a regular title, and I could sell the car immediately, if I had wanted. The bond is to insure the PREVIOUS owner, IF the car had been stolen. This way, if the car is stolen, the PO gets money (likely the insurance co.), and the state does not have the sticky problem of litigation about who did what and when, etc. I have no idea who is ultimately responsible for payment, though I suspect that is why the fee is so low, as few ever collect. The bond is called a Surety Bond, that is what you ask for from your insurer. It is my understanding that the car need not be 'finished', but must not be in pieces, though my info is a few years old. I had to take my car to a registered dealer, of that make, and have an appraisal written on his official letterhead. Jesse White has always responded to any inquiry I have had, and quickly, too. The man has transformed the office from what it was, which was utterly horrible, to an agency that answers more questions than it generates. But you have to ask the question of the people who will either give you the title, or not. Cosmo And so, re-reading my own advice, I went to the SOS site and checked: Yup, right there, under "Titling and Registration of Custom Vehicles and Street Rods" was the very info you seek. Read: The following procedures pertain to the issuance of titles and registrations for Custom Vehicles and Street Rods. 1) The vehicle owner must complete the title/registration application form and submit it, along with payment for all applicable fees and taxes, to the Secretary of State. The "make" of the vehicle on the title/registration will be the same as the manufacturer of the body (e.g., "Ford" if the custom vehicle or street rod is built from a Ford body, or "Superformance" if the custom vehicle or street rod is built from a kit with a body from that manufacturer). The "model" listed on the title/registration will be "Street Rod" (if the vehicle is built to resemble a 1948 or older model) or Custom Vehicle (if the vehicle is built to resemble a 1949 or newer vehicle). The "year" listed on the title/registration will be the year of vehicle it is designed to resemble. (Examples: a replica 1966 Cobra would be Make: Cobra; Model: Custom Vehicle; Year: 1966. A 1923 T-Bucket would be Make: Ford; Model: Street Rod; Year: 1923.). The VIN listed on the title/registration will be the VIN shown on the body. (If this VIN does not conform to the layout of current manufacturer's VINs, the Secretary of State computer program will be overridden and the VIN appearing on the body will be entered.) If the manufacturer does not affix a VIN to the body, a Secretary of State-assigned VIN must be assigned and affixed. The body style listed on the title/registration will be the actual body style of the completed custom vehicle or street rod (e.g., coupe, sedan, convertible). 2) For vehicles meeting the definition of Custom Vehicle or Street Rod, the application must include: Source documentation for the body, including a Vehicle Identification Number (VIN). This documentation must be one of the following: Manufacturer's Certificate of Origin for the body (if a new body is being utilized as in a kit car); or Certificate of Title for the vehicle from which the body was obtained; or The applicant may apply for a title, without ownership documentation, if he/she submits bills of sales and utilizes the bonding procedures set forth in 625 ILCS 5/3-109. Source documentation for the frame, including a VIN. This documentation must be one of the following: Manufacturer's Certificate of Origin for the frame (if a new frame is being utilized as in a kit car); or Certificate of Title for the vehicle from which the frame was obtained; or The applicant may apply for a title, without ownership documentation, if he/she submits bills of sales and utilizes the bonding procedures set forth in 625 ILCS 5/3-109. Source documentation, along with bills of sale or other ownership documents, for the engine and all essential parts. Four (4) photographs of the completed vehicle (front, rear, and both sides). A statement describing how the vehicle was constructed. 3) The above documentation must be forwarded to the Illinois Secretary of State. Upon approval (of the submitted documentation) the owner will be provided with a non-renewable 90-day Temporary Registration Permit (TRP), and the Street Rod and Custom Vehicle Safety Inspection form. The owner will also be provided with a schedule of events, or the location of a facility, where the vehicle may be inspected. 4) If the vehicle passes the Street Rod and Custom Vehicle inspection, the completed form is to be returned to the Secretary of State, whereupon the title/registration will be issued. 5) As an alternative, Custom Vehicles or Street Rods may be titled/registered using the procedures for Specially Constructed Vehicles. To use this process, the applicant must forward four (4) photographs of the completed vehicle (front, rear, and both side views), along with the chassis title and all bills of sale (or other ownership documents) for all essential parts of the vehicles, or a certificate of origin from the manufacturer (if the vehicle was assembled entirely from a kit). Accompanying this material must be a completed title application with a check made out to the Secretary of State for $95 (if only a title is being requested), or a completed title and registration application along with a check for $194, and the appropriate sales tax form with a check made out to the Illinois Department of Revenue for the amount of sales tax due. Forward all of the above to: Illinois Secretary of State Police, Attn: Custom Vehicle / Street Rod, 110 E. Adams, Springfield, IL 62701. After the paperwork has been approved the Secretary of State Police will contact the applicant about scheduling an inspection.
if you have a vin, have local police check to see if it is clear and valid, if it is you can ask for the owners name(if a buddie of relative is a cpo better). then send to the stat for a lost tile with last owners name and your address... then when you get it sell tilte to your self.... had to do this with a 79 z-28 bought it and while biulding the title was shedded by pissed of ex... did not have a problem and sold the car and it has been tru 5 guys (just a thought..)
...this is all very interesting, it's good to share this info. ..about 6-8 guys in our club have been hit up from the Dept of Revenue for more money, etc....some on titles they've had for 3 years or more and most of these were out of state titles.
Wait until you get one of those letters telling you that they want extra money for taxes . I got one ,took it to the local Senitors office and they took of it .
I got one of those also on a 1958 Fairlane and they billed me for $1800.00 in back taxes. When i called the Illinois Dept of Revenue they informed me it that if I had a bill of sale then they would tax the car at the purchase price if I didnt then they went off a restored value and taxed that amount. Lucky for me I had the P/O send me a bill of sale and the $1800.00 in taxes and fines was erased. Make sure that you get a bill of sale if you sell or buy a classic car in Illinois. My brother in law got nailed on his 1962 Impala because he didnt have a bill of sale and they taxed him $1100.00, It probably went for hair styling of our governor.
They will always test you on the value of the car to try to squeeze more money out of you. The Illinois Tax Nazis hope that you will be intimidated and send money based on what they believe is the "true value" of the car. Its happened to me and friends every time that we have registered classic cars in Illinois. The answer is to keep complete records of purchase, including the original advertisement, bill of sale, etc.
Same thing here last two cars I received a bill for $860 interesting that the same basic fee for two totally different vehicles. Eventhough I sent the BOS with the registration papers evidently that does not get forwarded on to the Tax department so you need to be sure and fill in line 1 section C on the Illinois form RUT50 with the purchase ammount. The RUT50 form goes on to the Tax division but evidently not the BOS. When they receive the form blank they do their evaluation and send you a bill.
Actually, my experience and that of friends is that they will send you a bill anyway, based on what they think the car is worth regardless of what you state when you register the car. Example -- I bought my 37 Ford as a roller/project in pieces for $6,500, and that is the value that I stated at registration. The tax people came back at me stating no, that the car was really worth $25,000. I sent back copies of the bill of sale and the advertisement from Illinois Auto & RV, and never heard anything more about it.
I was just going by my experience and what I was led to believe! Guess they could be randomly pulling applications but one of mine was even a Bonded title which included an appraisal and I was led to believe it was the omission on the RUT50 that caused the independent appraisal. Oh well what ever it is a shame to jerk around one group of citizens just to raise tax revenue.
Illinois just sends those tax letters out to everyone anymore, if you don't have a bill of sale you can have an appraisal done by a licensed dealer instead. They hit me up for $1500 bucks on my '32 by saying it was worth $28,000. I included a photo of said pile with an appraisal and got a notification in the mail from the Department of Revenue stating by balance due was zero. I know a couple of guys that just paid the money not wanting the hassle. That is what the state of Illinois is hoping for. This is all backlash from one particular builder/parts dealer that tried to send 75 titles through at once.
The guy who wrote the long process about the bond, you as the principal on the bond are the one obligated to repay the bonding company in the event of a claim against the bond, the state lets you and them duke it out, they just pay off the litigant. Remember that you had to do a financial disclosure and the form about how you were obligated to reimburse the bond company, TA DA, you are not allowed to sell the car for 3 years, till the bond matures, it says that in the bond app..
I have heard someone tried to send in a bunch of titles at once and got this whole mess started. And I'll bet someone on here knows who that was. ??
I finally got a VIN number assigned and the title will take about 6 weeks. It took 3 months from the time I submitted my first papers. It was easier and faster than I thought it would be. There is no good reason not to follow thier procedures and do it legally. it helps if you can get an E-mail address of the person working on your application. It makes for faster and easier communication.
Hey, Im right behind you, its on her desk, I just talked to her, do they give you a vin form? The next part is that they will have the SOS cops contact you and you have a 90 day temp card right?
6 posts in 2 years, didn't see that at first, I think he only posts when something exciting happens, he will be back because I was told I would be lucky to have a legal ride by Christmas and I started in March. He's only 25% through, hasn't even crowned yet.
When the SOS police come ouy they will inspect car for safety and install vin tag. They will bring temp plate and its done. Permanent plate and title will follow in the mail.
What kind of car and did you have a clear title in your name to start with. Could use some more details. Thanks
Not what I heard, DMV said they would have the SOS contact you and you bring it in, did they give you a temp vin number so you can get insurance?
SOS police came to my house, inspected car ,installed permanent vin tag, brought temp plate .permanent plate and title will come in mail in 6to8 weeks. I did not have a title .
This is probably the best thing I've heard in the past 3 or 4 months regarding IL and titles. I'm going to be going through this in a few months. Don't suppose you want to give us an idea how much the possess cost you, so I can be somewhat prepared? Gene
200.00 for an appraisal, 194.00 for plates and title, 25.00 for the tax, I know thats gonna be higher, 1100.00 for the bond, Did they just call you or did you get a letter or what? I keep getting different info from them, at one point they said to contact the state police for the inspection. I'm happy to hear you are on your way, let us know about taxes too. I'm dyin' to get this part of the process behind me. I will say this, the gal in the bonding department is great, she returns calls and answers questions and everything, she's not in charge of the taxing, so don't blame her for that, I thank god they have her.
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