[Vtr-tac] Amended Bonded Title Procedure

Electronic Distribution of VTR Information to Texas Counties vtr-tac at extlists.dmv.state.tx.us
Thu Mar 4 10:13:16 CST 2010


Please review and distribute as appropriate:

This is to notify you of a change in existing policy concerning bonded
title procedures.  

Beginning immediately, regional office personnel will use the full
Standard Presumptive Value (SPV) from the TxDMV.gov Web site as the
primary source for vehicle valuations.  

If no SPV is found then regional personnel shall reference the values
from the National Auto Dealers Association (NADA) guide.  If no value is
found either through SPV or NADA, then a VTR Appraisal Form will be
required to be submitted by the bonded title applicant.  The form has
been revised to require an in-person vehicle inspection and provides a
warning against forgery.  An example of the revised form is attached.

The value determined by SPV, NADA, or appraisal will be multiplied by
1.5 to determine the bond amount.

Bonded title applicants cannot use a VTR Appraisal form to contest the
department’s findings. 

If you have any questions or need additional information, please
contact your local Vehicle Titles and Registration Division Regional
Office.  

Thanks,

--Rebecca


If you have any comments or suggestions concerning this VTR
communication process, please contact your local VTR Regional Office.

If you would like to see previous postings from the "VTR Electronic
Archives," please visit
http://extlists.dot.state.tx.us/pipermail/vtr-tac/ .

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