- Joined
- Jan 19, 2004
- Messages
- 2,175
Searched a little for this but did not come up with a specific thread, so, I am starting one.
This deal got started first of the week when I started investigating what was required to insure a "specialty vehicle" and was told by the company I currently use and another "specialty company"- no vin/title no insurance.
I contacted a local DMV officer who works with inspections and other stuff. This turned out to be a "not what you know but who you know deal"-quick version- his wife was a teacher in the high school I teach before she lost her battle with breast cancer. I had forgotten her husband worked for the DMV. He told me he could meet me after work today as soon as I told him who I was and where I worked- so I hauled it down.
Here are the forms per NC-
**Application for Title (MVR-1) completed in full and signed before a notary-
**MVR 55-notarized statement explaining how the vehicle was acquired(built) and why evidence of ownership cannot be furnished....
**Report of inspection by an inspector with the License and Theft Bureau (LT270)
**Proof of ownership for engine, trans. and frame. If no proof of ownership, an Indemnity Bond written by an ins. company licensed to write Surety Bonds in NC. bond must be for 1.5 times the fair market value of vehicle. Must furnish all receipts for parts and labor to construct the vehicle OR two appraisals from two dealerships on their letterhead.
This is the option I took and thanks to the inspector, he advised me to "low ball" the appraisals to reduce the bond. Again, small town friendly-went to two local used car dealers-One has a kid in the high school I teach, one had a grandson who was my starting middle linebacker a couple years back
They both were very complimentary of the buggy-evidently, they were familiar with this "process", because they asked me what I wanted it appraised for. I was very appreciative of this as it will reduce my (bond). NOTE-this part is separate from the "value" I will assign to it for insurance. I had a paper trail built especially for that
**MVR-92H, Affidavit of Facts to Accompany Idemnity Bond
**Title fee -$40.00
**All custom built vehicles are branded RECONSTRUCTED!!
You will need to check with your local office for specifics on what is and is NOT required/legal for "on road use". Lets just say my inspector liked the working headlights, turn signals, brake lights and 4wdisc brakes which he could see through the slots
Now, we will see, how long the process takes!!!
Wow, that was a long post!
This deal got started first of the week when I started investigating what was required to insure a "specialty vehicle" and was told by the company I currently use and another "specialty company"- no vin/title no insurance.
I contacted a local DMV officer who works with inspections and other stuff. This turned out to be a "not what you know but who you know deal"-quick version- his wife was a teacher in the high school I teach before she lost her battle with breast cancer. I had forgotten her husband worked for the DMV. He told me he could meet me after work today as soon as I told him who I was and where I worked- so I hauled it down.
Here are the forms per NC-
**Application for Title (MVR-1) completed in full and signed before a notary-
**MVR 55-notarized statement explaining how the vehicle was acquired(built) and why evidence of ownership cannot be furnished....
**Report of inspection by an inspector with the License and Theft Bureau (LT270)
**Proof of ownership for engine, trans. and frame. If no proof of ownership, an Indemnity Bond written by an ins. company licensed to write Surety Bonds in NC. bond must be for 1.5 times the fair market value of vehicle. Must furnish all receipts for parts and labor to construct the vehicle OR two appraisals from two dealerships on their letterhead.
This is the option I took and thanks to the inspector, he advised me to "low ball" the appraisals to reduce the bond. Again, small town friendly-went to two local used car dealers-One has a kid in the high school I teach, one had a grandson who was my starting middle linebacker a couple years back
They both were very complimentary of the buggy-evidently, they were familiar with this "process", because they asked me what I wanted it appraised for. I was very appreciative of this as it will reduce my (bond). NOTE-this part is separate from the "value" I will assign to it for insurance. I had a paper trail built especially for that **MVR-92H, Affidavit of Facts to Accompany Idemnity Bond
**Title fee -$40.00
**All custom built vehicles are branded RECONSTRUCTED!!
You will need to check with your local office for specifics on what is and is NOT required/legal for "on road use". Lets just say my inspector liked the working headlights, turn signals, brake lights and 4wdisc brakes which he could see through the slots
Now, we will see, how long the process takes!!!
Wow, that was a long post!
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