2006-09-16 11:06:48 · 12 answers · asked by Charles H 1 in Cars & Transportation ➔ Buying & Selling
get lawyer Ooooh thatll scare them
2006-09-16 11:09:56 · answer #1 · answered by ogeepyroh_lok 1 · 0⤊ 1⤋
Once you trade the car in and sign off on the title, the car belongs to the dealer. The balance due on your car loan should have been paid off or switched over to a loan for the new vehicle.
2006-09-16 18:09:34 · answer #2 · answered by Anonymous · 1⤊ 0⤋
the only recourse is for the loan company to repo the car from the dealer if they wont pay. however, if your car loan was not using the car as collateral, but it was instead a personal loan, you are liable for the payment. you can sue the car dealership for damages to your credit and for the outstanding balance on your loan if your contract shows that your vehicle was taken in trade. you may also be able to reclaim the car you traded since by not paying it off they are in breach of contract.
2006-09-16 18:17:35 · answer #3 · answered by casurfwatcher 6 · 0⤊ 0⤋
Some dealerships take a much longer time to pay off your 'old' loan. I believe there are legal limits on how long dealerships have to process payoffs though.
I would get some information on how long dealerships have process loan payoffs first. Once you have that information, I would contact the finance department of the dealership you used. I have experience in working at car dealerships. Trust me, they don't exactly have the best interests of customers at heart. They talk all this customer service crap, but, all they really care about is units sold and per unit profits.
2006-09-16 18:18:06 · answer #4 · answered by loveblue 5 · 0⤊ 1⤋
Some dealerships can drag their feet behind the scenes. But you did sign the title over so it is no longer your problem. I would make a phone call to your (ex) lender and let them know that you traded.
If all else fails, go raise hell in the showroom when they have lots of customers. Works every time.
2006-09-16 19:22:32 · answer #5 · answered by mickeyg1958 4 · 0⤊ 0⤋
some times dealers wait untill they get paid from the car taht you bought from them to pay your trade in, the other bank won't care they want their payment or its going to be your credit.
2006-09-17 04:24:51 · answer #6 · answered by OMAR G 3 · 0⤊ 0⤋
Your credit score is going to reflect. You can sue the crap out of the dealer though and eventually get your credit report reconfigured but it takes for ever. Prety much you got screwed.
2006-09-16 18:15:47 · answer #7 · answered by Morgan T 1 · 0⤊ 1⤋
Shouldn't the title have shifted the responsibility to him?
2006-09-16 18:14:03 · answer #8 · answered by Paul 7 · 1⤊ 0⤋
nothing you signed the title off...... it's done you just worry about your car..... i did the same thing
2006-09-16 18:14:26 · answer #9 · answered by The Saint 1 · 0⤊ 0⤋
get a lawyer and let the lawyer take care of it.
2006-09-16 19:01:00 · answer #10 · answered by vetteslayer 3 · 0⤊ 1⤋