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  1. #1
    Join Date
    Mar 2010
    Posts
    5

    Default Dealer Won't Pay Off Trade-in

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

    I trade in my car back in July and the dealer still have not payoff the trade, I want to know what do i need to do, the dealer keeps promising to payoff and that he has a bond with the DMV.

    Please help,
    Zelman

  2. #2
    Join Date
    Mar 2010
    Posts
    5

    Default Re: Dealer Won't Pay Off Trade-in

    I found this and I call the DMV, they give me the dealer Bond# so now im contacting the insurance.

    http://www.dmv.ca.gov/consumer/invest/inv172.htm

    Bond information for dealers gone out of business, how to file a claim against a dealer bond.
    Contact DMV Occupational Licensing Unit. Call (916) 229-3126, Monday through Friday, between 8 a.m. and 5 p.m.

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Dealer Won't Pay Off Trade-in

    Thanks for digging that up and sharing the information.

  4. #4
    Join Date
    Mar 2010
    Posts
    5

    Default Re: Dealer Won't Pay Off Trade-in

    Hi everyone,
    So i Contact the Bond Office Western Surity and I Fax all the info agent call me and was working with me then they found out the dealer cancel their insurance with them in April-1-2009 and they cannot fund my claim.

    I called back the DMV office and they give me a new insurer that was effective in April-2009 so i'm off to call them and see what can we do from there.

    Zelman

  5. #5
    Join Date
    Mar 2010
    Posts
    5

    Default Re: Dealer Won't Pay Off Trade-in

    I contacted New Insurer and send all Paperwork, they will contact seller (dead beat) just this week they said they will pay the car, so Im now waiting for the payment to be send

  6. #6
    Join Date
    Mar 2010
    Posts
    5

    Default Re: Dealer Won't Pay Off Trade-in

    Dealer Bond Insurance had fully paidoff the trade-in car, so this is finally over, takes a lot of paitience but can be done but is over.

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