Branded Title sold

[Antonini]

I live in Texas, i am buying a car from Mossi Nissan { used }
They sold it to me for 27,000 i only have it for a year, and i still owned 21,000

I was considering to trade it in, or sell it, but since it have Branded title i will only be able to get 12,000 for it because of that reason.
The sales man told me that there where no problems with the car and that the reason the title appear to be lemon buy back, was because the manufacture have to buy it back to correct an electric problem and that it wasn't a big dial. I didn't know that will cause to lose so much value What can i do?
Of course my bank will want the rest of the balance.

Some one advise me thanks.

 

[Antigone*]

What is the name of your state (only U.S. law)?
I live in Texas, i am buying a car from Mossi Nissan { used }
They sold it to me for 27,000 i only have it for a year, and i still owned 21,000

I was considering to trade it in, or sell it, but since it have Branded title i will only be able to get 12,000 for it because of that reason.
The sales man told me that there where no problems with the car and that the reason the title appear to be lemon back, was because the manufacture have to buy it back to correct an electric problem and that it wasn't a big dial. I didn't know that will cause to lose so much value What can i do?
Of course my bank will want the rest of the balance.

Some one advise me thanks.

You purchased a used vehicle for way more than it was worth. You made a bad deal, however it does not appear to be an illegal sale.

 

[tranquility]

As long as you knew of the title issue, you don't really have any recourse. You just substantially overpaid for the vehicle.

 

[sandyclaus]

I live in Texas, i am buying a car from Mossi Nissan { used }
They sold it to me for 27,000 i only have it for a year, and i still owned 21,000

I was considering to trade it in, or sell it, but since it have Branded title i will only be able to get 12,000 for it because of that reason.
The sales man told me that there where no problems with the car and that the reason the title appear to be lemon buy back, was because the manufacture have to buy it back to correct an electric problem and that it wasn't a big dial. I didn't know that will cause to lose so much value What can i do?
Of course my bank will want the rest of the balance.

Some one advise me thanks.

Sad to say, but that dealer saw you coming from a mile away. They convinced you to WAY overpay for a vehicle, and did so legally. They even properly disclosed the branded title, so you can't say they misrepresented the vehicle. In fact, with ANY kind of used vehicle, whether branded or not, you should be getting a full mechanical inspection on that car before you agree on a price. In your case, you would have learned that the price being asked was far higher than the actual value of the vehicle under the circumstances.

If you feel you need to sell then, then you need to sell it. However, you cannot expect the dealership to make up the deficiency balance that will be left on your loan due to your failure to negotiate an appropriate price. That's on you.

 

[OHRoadwarrior]

That is why they brand titles. Now you know for future reference. Drive the car until it has 150k and it no longer matters.

 

[swalsh411]

They sold you the kind of deal where they high-five each other, do a little dance, and go home early.