New Laws for 2010
California Car Buyers’ Protection Act
By: Irma Haldane
As we’ve been discussing the move over law and understanding the potential implications for failing to comply with the law, I’ve come across a couple other laws that could be important for our readers. Here’s this weeks law according to the DMV:
“This new law requires a vehicle dealer to pay off the outstanding loan or lease balance on any vehicle accepted in trade within 21 calendar days of taking the vehicle in trade. Additionally, it prohibits a dealer from selling, consigning for sale, or transferring a vehicle accepted in trade before the outstanding loan or lease balance has been paid. This law also raises fees for dealer licenses.”
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