For what its worth, there was a company that used the State of Alabama no title process several years ago. You sent them a bill of sale, they transferred it into their name, applied for the AL paper work, and mailed that back to you. You took that paperwork to your DMV and supposedly got a good title. In the AL deal, you basically sold your vehicle to that company, then they transferred it into their name, and sold it back to you (their fees) with the AL paperwork, like you had bought the vehicle directly from them. That company got a lot of titles issued until several states put the brakes on the process at the same time, after receiving many title transfers for older vehicles from that one company. States investigate this sort of stuff. The states put enough pressure on Alabama that AL made the requirement that the said vehicle needed to be present in the state for a vehicle ID inspection before the paperwork could be processed.

The State of IL was one of several states that did not accept the paperwork from that company. IL would impound the paper work, and lock the ID of the vehicle under the guise of possible stolen property. Then you could never title that vehicle ID in any state.

I would want to be sure your paper work from Vermont is coming back in your name from the state of Vermont, and not as being sold to you by a person or company that lives in Vermont.

I'm not saying there could be a problem with the Vermont title process, but there is no way I would take a chance on the Vermont registration process. The WI bonded process is the legal process WI wants to see. The 5 year thing is only the open window someone with preexisting real title for your truck can claim it. If you know the history of your truck, the 5 year thing is no problem. If something was going to happen, it would occur very shortly after the bond was issued and the legal notification was posted with what ever process the bond company is required to use by the state.

Put the shoe on the other foot, after that truck actually belonged to you, would you want someone that stole it ,say from a storage unit without you knowing it was missing, to be able to get an easy replacement title for your truck next week?