Do you need a CIN to buy a used car from a dealer?
If a business sells used cars on the internet, they must have a link to the CIN on the same web page as the car is advertised. A CIN is not needed for new vehicles or private sales. The dealer fills out the CIN and you and the dealer must sign it. Make sure the information checks out.
Why did I buy a brand new car?
I admit my new car purchase was driven by the frustration of 10 years of driving used cars. Not just used cars, but 10-15 year old, 150k+ miles, USED cars. The kind of cars that I prayed would start each morning, and the kind of cars that I prayed didn’t just die on me driving 75mph down I-95.
When does the current owner of a car own it?
If the current owner bought the car by HP or PCP, they do not own it until they have made the final payment to the finance company. Check that all payments have been made so that the car now belongs to the seller (not the finance company) and they have a right to sell it.
What happens if dealer does not give you copy of CIN?
The dealer would have given you a copy of the CIN when you bought the car. If any of the information given about the security interest is wrong on the CIN, ie the box was not ticked, then it is invalid and you have full ownership rights. This means the finance company can’t take the vehicle from you.
When did dealer sell me car they don’t have title for?
But, as is typical for buying a car from a dealer in Arizona the dealer issued me a 30 day temporary licence & registration which expired 10/16. As the expiration neared I called the salesman and he told me it was the finance guy who handled this.
The dealer would have given you a copy of the CIN when you bought the car. If any of the information given about the security interest is wrong on the CIN, ie the box was not ticked, then it is invalid and you have full ownership rights. This means the finance company can’t take the vehicle from you.
How did Timothy Miller get a good deal on his truck?
Timothy Miller, who lives in Grand Rapids, Michigan, said that two years ago, one dealer kept delaying his paperwork and asked him to double the down payment on his truck in order to reduce his monthly payments. The changes ended up saving him next to nothing, he said.
When do you have to return a car to the dealer?
You must return the vehicle, in its original condition, within 24 hours and the dealer must return you trade in and the down payment you made with no deductions for your usage or mileage or you face repossession.