Hi,
Im from CA and I sold my vehicle to a reputed dealer in CA. I had a part loan (about 40% of the total sale value) and the rest 60% was my equity in the vehicle.
He said he will pay the amount owed to me in a week.
The dealer paid what I owed to the bank and got the deed transfer.
But he says he cannot pay the 60% owed to me till he receives the title.
It has been 3.5 weeks. I confirmed with the bank that the deed has been transferred about 8-10 days back but the dealer says it will take more time.
I dont know if he is waiting for the physical paper-title or a confirmation that the title title has been transferred by the DMV.
As far as a buyer is concerned, no one waits to pay till the title is transferred. The money is due when I sign the vehicle to him.
Also, I dont even know if he has applied for the title after paying the tax. I dont even know if he is waiting for someone to buy the vehicle so he can pay me after the sale.
Can you suggest what I need to do?
Can I get a confirmation from the CA-DMV if the title has really been transferred?
Do I wait for more time? Do I contact a lawyer?
Thank you!
Im from CA and I sold my vehicle to a reputed dealer in CA. I had a part loan (about 40% of the total sale value) and the rest 60% was my equity in the vehicle.
He said he will pay the amount owed to me in a week.
The dealer paid what I owed to the bank and got the deed transfer.
But he says he cannot pay the 60% owed to me till he receives the title.
It has been 3.5 weeks. I confirmed with the bank that the deed has been transferred about 8-10 days back but the dealer says it will take more time.
I dont know if he is waiting for the physical paper-title or a confirmation that the title title has been transferred by the DMV.
As far as a buyer is concerned, no one waits to pay till the title is transferred. The money is due when I sign the vehicle to him.
Also, I dont even know if he has applied for the title after paying the tax. I dont even know if he is waiting for someone to buy the vehicle so he can pay me after the sale.
Can you suggest what I need to do?
Can I get a confirmation from the CA-DMV if the title has really been transferred?
Do I wait for more time? Do I contact a lawyer?
Thank you!