auto loans st louis
I would like to rescind an auto sale in Missouri. What is a transfer agreement?
We “purchased” a used car over a month ago and recently found out that the seller, a reputable dealer in the St. Louis area (Suntrup Hyundai), did not have the title for the car. While complaining to the dealership about the lack of a title, my wife met the previous owner of the car we purchased and found out that he had not sent in the title as he was still waiting for the dealership to pay off the loan on the trade-in (the car we purchased.)
So, the dealer sold us a car that he hadn’t paid off yet. He has already been paid for the car by us, even though he still doesn’t have the title to it. He keeps giving us the run-around about why we haven’t recieved the title. In short, he keeps lying about why we haven’t recieved it.
We would like to rescind the sale, and can do so within 5 days of the transfer agreement. What exactly is a transfer agreement?
Any help with this is very much appreciated.
the transfer agreement was your purchase contract, now a month old.
However, you can open a claim with the Missouri DMV. The DMV is responsible for monitoring, auditing and enforcing all rules that pertain to dealerships. They are able to get action where civil courts will not.
What has happened is that hte dealer has sold the car ‘out of trust’. This measn he has not yet satisfied the legal requirements to truly own the car, ie resolving that lien. Selling the car that has not had the title perfected is a serious offense in the eyes of the DMV.
Visit the main office of the DMV in your area. Most satellite offices will not be able to help. You need to go to the professional licensing division and file a complaint against his license.
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