Buying a car without a title

There isn't much risk in TX when you follow the process and do the research before buying. If the old owner creeps out of the woodwork the bond is paid by the bonding company. People in TX are pretty bad about not transferring titles and losing them. If an owner loses a title that's in their name, the state will happily replace it.

There should be a big discount for no title and the work required to get one.