Traded Cars, Vehicle Broke Down On the Way Home

[schapman1]

My question involves a consumer law issue in the State of: New Jersey

I live in nj i found someone in PA on craigslist with an explorer we set up a time to meet the next day (yesterday july 18 2012) . So we meet the next day test drive his test drive mines i hand him my title he handed me his, note they were both unsigned on the back we forgot to sign them, well as im driving back to NJ about 15 miles into the drive we get this bad smell and see smoke comming out and steam with brown fluid commin out the engine, i pull over and call a tow truck and take to my house, Now this mornin i called a tow truck to take it to pep boys they looked at it and told me my motor was blown from a leak and it costs 35-4500 to replace i cant afford that especially when this wasnt my fault. i call the original owner and he isnt trying to give me my car back for his truck, i never signed the back of the title either, can i do somethin legally? especially for the fact that techniqually the car is still mine since i never signed title

[Mr. Knowitall]

If this was an even trade, one "as is" vehicle for another "as is" vehicle, your respective accidental failure to sign over the respective titles does not give you an automatic out - it gives you the right to ask him to correct the oversight, and for him to ask the same of you.

I can't really blame the other guy for not wanting to undo the exchange if he gave you a working vehicle and you blew out the engine on the way home.

Can you point to anything he did to misrepresent the condition of the vehicle? To actively conceal a problem from you?