I need help i just trade a car for new car but the dealer doesn't pay off my loan yet what should?

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I need help i just trade a car for new car but the dealer doesn't pay off my loan yet what should?

2006-06-12 21:07:15 · 2 answers · asked by cloak 1 in Cars & Transportation ➔ Buying & Selling

2 answers

I'm sure the payoff check is stuck in the office waiting to get signed, they are contractually obligated to pay that car off if it's in your agreement. If they wait too long more interest will have accrued and they'll have to pay that to. Just call them and see what's going on. I'm sure it's an innocent mix up.

2006-06-13 04:22:03 · answer #1 · answered by jay 7 · 0⤊ 0⤋

Contact your local department of licensing. The dealership has a very limited amount of time to pay off the traded-in vehicle. If they don't pay off the vehicle within the time frame, they'll be fined by the state. If they have a history of doing this, they might be fined quite a bit.

2006-06-13 05:43:16 · answer #2 · answered by Bob S 3 · 0⤊ 0⤋