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Old 03-31-2011, 09:56 AM
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latitud latitud is offline
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Join Date: Jun 2010
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I would imagine that the existing contract was between you and your loan company. You sold the truck to the dealer for 'X' amount of dollars....if it was less than payoff, the remaining balance is owed by you to the lein holder. Why would the lein holder be shorted? They had nothing to do with your new contract. You simply entered into a new contract for a different vehicle with a different lein company. Technically you are in two contracts.
I agree that the dealer failed to follow their own procedure to verify the payoff, but they gave you a set amount for your old truck and sold you a new one for a set amount. I am gonna bet you will be asked (threatened) to pay.
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Last edited by latitud; 03-31-2011 at 10:28 AM.
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