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.”
EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.
Irma Haldane, estate agent at Ewing & Associates Sotheby's International Realty, represents buyers and sellers throughout the West San Fernando, Conejo and Simi Valleys with specialization in Agoura, Thousand Oaks, Woodland Hills, West Hills, Camarillo and Westlake Village.
