Does anyone know how long a dealership has to pay off your trade in?
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Does anyone know how long a dealership has to pay off your trade in?
No specific law that says when we have to payoff a trade. In most cases I'm not paying off your car until I'm funded on the car you purchased.
That at said keep in mind it's in dealers best interest to payoff so we can get title and resell the car.
Hmmm thank you.
How long has it been
Been a month and my trade in payment is due. I called and they said the pay off has not been mad. I called the dealership and get the run around.
Report the vehicle stolen? That's what the dealership would do. Probably ask Rooskiebar first though.
A month is pretty long, way outside the norm. Was this a large big name dealer or a small independent lot?
If it's small one that's not good. Many a small dealer gets into trouble floating titles, basically needing to sell another car to pay off the one they sold. That gets ugly real quick.
Call you lender and let them know it was traded, when, and to who. You're still on the hook for the payment but maybe they will make a call on your behalf.
Big name dodge dealer in fact it's been 43 days. I get a call from them asking me to come in and sign more papers I need to talk to a lawer
I wouldn't lawer up just yet, contact the Dealer Licensing board.Quote:
Originally Posted by Dunecrazzy
Watch your ass.
Likely they are going to try and leverage you for more money down or a higher interest rate.
That is more than likely why they haven't paid off your trade, they haven't got the car you "purchased" financed yet.
As much as I dislike Tom Martino he has some pretty good info on this type of stuff.
IIRC a dealer has X days to get a vehicle financed or they must either finance it themselves or undo the deal.
The financing went through great interest rate I did everything they asked as much as I dislike Tom Martino also I will check it out thank you neighbor