Do Nevada used car salesmen need licenses for deferred payments?

Question

I'm a buyer in Nevada, and I recently purchased a used car from a salesman. Initially, I paid $4,000 and was given a contract with a deferred payment of $500 due a week later. After paying for insurance on the vehicle, I asked for my money back, but the salesman told me I would have to wait until the next day. He then convinced me that it was a good vehicle. However, after taking the vehicle home, it broke down. Does a used car salesman need a specific license to include deferred payments in a contract, and what are my options regarding the breakdown and refund issue?

James L. Arrasmith · Answer

You’re right to feel frustrated—buying a car should bring relief, not more stress. In Nevada, anyone selling vehicles for profit is required to have a dealer’s license, and if they offer financing or deferred payments, they may also need to follow certain lending regulations. If this salesman didn’t work through a licensed dealership or didn’t have the proper licensing to extend credit, that could raise serious legal issues. 
 
When a car breaks down immediately after purchase, especially if you were talked into keeping it under pressure, you may have grounds to dispute the sale. Nevada doesn’t have a general "cooling-off" period for car sales, but if the seller misrepresented the condition of the car or failed to disclose major issues, that could fall under deceptive trade practices. You should gather your contract, receipts, and any text messages or verbal assurances that were made, and keep a record of the vehicle’s breakdown. 
 
Your next steps could include filing a formal complaint with the Nevada Department of Motor Vehicles or the Consumer Affairs Division. You also have the right to request a refund if the car was not in the condition promised. This isn't just about the \$500—it's about being treated fairly and not left with a vehicle that doesn't work. Stay strong and don’t hesitate to press for what’s right.

Q: Do Nevada used car salesmen need licenses for deferred payments?