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  #11  
Old 03-09-2011, 07:08 PM
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i don't understand how this could happen before i went to the dealer i made a quick call to my bank and got the exact payoff amount 2 hours later the dealer did the same thing . that easy
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Old 03-12-2011, 11:29 AM
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Quote:
Originally Posted by Nimz View Post
But otherwise this loan is still being auto-drafted out of my account. I mean, it's my loan but the dealership obviously intended on selling the trade-in. So the loan should be covered in full, no?

How then, since the amount is $13xx dollars, what if in another case the remainder was like $11,xxx dollars. Same principle still applies? Dealership's fault for not checking into the amount?

I don't get how this doesn't come back on me honestly.
Don't know if I'm missing something here......

If the dealer bought out your loan as part of the deal (which your first post suggests), then you shouldn't have the loan 'auto-drafting' since that transaction. And that being the case, they should have discovered the discrepancy the moment they bought it out......and likely contact you asking for more $.

Maybe I just mis-interpreted what you meant......
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  #13  
Old 03-31-2011, 09:44 AM
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No, You should not have to pay... The dealer bought your truck, sold you a new one, You have a new contract and the old contract does not apply since the day of transaction. You are only responsible for the new current contract. The dealership screwed themselves for not checking, but they will make it back...Here is an example:
They bought your truck for, lets say $500... The get a clean title, car fax...ect...ect... they turn around and add thier overhead to that $500+commissions+detailing fees and whatever else they want to tack on...Now your $500 trade in is sitting on thier lot for $3000, seriously ! I traded a car with a brand new motor that was 2 days old for a new car I got zipped..cost me $3000 for the motor, dealer did trade in at $1000 and when I went back to have an oil change done... My old ride was sitting there at street view with a $6000 price tag. Dealerships aka Stealerships ! I was P.O. about that, but nothing I could do.
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Old 03-31-2011, 09:51 AM
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i would say you are not responsable.
they should know your payoff.
they took the deal and sold your truck
the deal is done
if they call you again call the owner of the dealership
and tell them i think heads will roll there and you will owe nothing
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Old 03-31-2011, 10:56 AM
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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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Old 03-31-2011, 11:04 AM
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Have you heard anything yet about it?
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Old 03-31-2011, 01:16 PM
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IMHO--Before it is all said and done, I think it all depends on how much you are willing to pay an attorney, that you will have to hire, to try to prove you are not liable for the remaining balance of the loan. I don't think the dealership is just going to say "Sorry it's our mistake, don't worry about it".
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  #18  
Old 04-01-2011, 02:16 AM
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I believe as happened before but the dealer screwed up. Normally if you owe anything the dealer will tack that onto the new car amount and then the old car is paid off and the new car is just a tad bit more ( dealers are great at slipping this in the back door for you at your expenses ) Legally they have to pay off whatever liens are on a title they get ( as we all know that no one can legally acquire a vehicle with a lien unless you agree to take over that amount or pay it off to own the vehicle. I say the auto drafts are taken on the standard dates because the transfer hasnt gone through or you personally have to stop the auto draft. Look at your contract and see if you are paying what you agreed to on the vehicle or is it a different amount or is there another line of cost that is slipped in there among all the mumble jumble....?
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