Scott5

Thanks folks -

ok - get this - Guy didn't sign the back of the title. I'm not sure if this is good or bad for me.

I do have sales slip with his signature confirming receipt of my bank check for said car, and even though the car's in my driveway, I'm wondering if this means he didn't really "deliver" the goods yet. Does that have any bearing on the situation or give me any leverage?

He's not returning calls. I'll give him until tomarrow and then pay him a visit.

ps: I misspoke on the fiberglass comment - I was speaking boats, now cars.

Speed

I'm a New York lawyer and the seller's failure to sign the back of the title certificate means that he hasn't transferred title to you, although he has your money. The NY DMV will not register the car without the signed title. Since he hasn't performed his part of the bargain you could rescind the sale and demand your money back, but you're probably looking at a litigation with the unregistered car sitting in your driveway for the duration.

With respect to registering in NY, I suggest you check the DMV's website www.nysdmv.com. Under "Find Answers" (at bottom of home page) put in "salvage" and you'll be directed to a page that discusses separate safety investigation that must be done by DMV before a vehicle with an out of state salvage title can be registered.

BigHeadDennis

Like I said earlier in this thread, please check with your local insurance agent or DMV. Rules vary from state to state. I am absolutely certain that there are states which do not allow for certain types of insurance coverage on salvage-titled vehicles, whether the insurance company in question is willing to provide coverage or not. I do not know what NY law allows.

Keep in mind that when selling your salvage-titled vehicle, this will limit the market of potential buyers; those residing in states with this insurance limitation will not be able to buy your car, not matter how good of a discount you're willing to provide.

vty,

--Dennis





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teflon_jones

my experience with insuring a salvaged car was in NY and i didn't have any problems at all. i used state farm and they insured it just like any other vehicle, no differences at all.

Scott5

regarding insurability - I'm ok - according to my statefarm agent, a salvage title is not treated any differently than a clean title. I know that in some other states, they do limit the type of insurance you can get - and possibly some states won't provide for insurance at all. But in NY, I'm ok.

Thanks everyone...

Scott5

The end result!!! - I spoke with seller this morning.

Speed's info regarding the unsigned title was critical to me; I had the confidence to pursue a resolution that benifited me.

Seller and I are meeting tonight- he's going to give me a bank check that nets the sales price of the car down towards the 40% off mark and I'm going to let him sign the title ending this mess.

He's happy, I'm happy...

Thanks for the advice guys - it really helped.

Scott

SANDOVAL

Very interesting thread. Scott May I ask what you bought and what you picked it up for? I am very happy for you that must have been a nerve racking couple of days. It sounds like the oversight saved your butt! It is funny how things like this ultimatley work out! Congrats on the new purchase!

jw97C2S

Be very careful when rescinding the transaction (I would do the same, by the way). A former client who was a car dealer had a habit of allowing buyers to rescind such contracts. He would write hot checks for the returned funds and retain the vehicle. I would have the seller send a copy of the bank check in advance so that you could verify its authenticity.
Good luck.
Jim

BRUCE

There was just an article in Sports Car Market magazine explaining private sale disclosure requirements. The attorney who wrote it says that the law requires private sellers to disclose information about a vehicle when such knowledge would effect the value or influence the purchase. This is especially true if the defect is not readily detectable. I think a title branding would fall under this statute.
I am glad Scott's situation is being resolved. The law does seem to justify his position.

Speed

Scott: Did you check the DMV website about getting a salvage vehicle inspected so that it can be registered? I wouldn't complete the transaction unless I was sure the car could be registered in NY.