Classic/Antique Car Repair: title, car titles, title question

Question
QUESTION: I have found a 66 Mustang for sale.  The owner does not have the title.  I have done some research through the DMV about getting a new title.  It sounds like a long procedure.  This car is my wife's dream car and I would love nothing more than to restore it for her.  Would you buy it if you were in my shoes?


ANSWER: You did not mention what state you are in. Filing for a lost title is a piece of cake in Texas. I can't imagine it being that hard any where else. People lose titles all the time. You especially have the owner available. I have a camper that the owner is non-existant and I will still get a bonded title in about three weeks.

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QUESTION: Thank you.
I am in Colorado.  As I investigate this further it sounds like I may need to get the car bonded.  Have you ever had to do that?  They are telling me that I need to get it bonded for twice the value.  But then there is another statement on a webpage that states vehicles over 25 yrs old a bond is not nec.  Ever heard of that?  What are you doing to get your camper bonded?

Thanks again for your info.


ANSWER: Apparently you are getting some bad advice and did not understand my answer either. YOU HAVE THE OWNER AVAILABLE. THEY CAN SIMPLY APPLY FOR A "LOST TITLE" and then sign it over to you.

I am using a bonding service that specifically does car titles.

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QUESTION: Maybe I am the one that is not explaining it correctly.  When she bought it, she did not get the title from the previous owner.  Can she still apply for a lost title?  Please don't think I am being a pest, I am just trying to get another person's thoughts on the situation.
Thank you VERY much!

Answer
Your best bet is top contact the last legal owner. Does the current possessor know the real owner?  Try contacting them and ask them to file for title or even better give you a power of attorney over the vehicle.

If owner is not possible, then a bonded title is an option, but you must have a reciept with vin number and a bond for the value of the car (not double).