The credit union that is financing, told me that the dealership has to pay off my trade-in but it has been over 15 days and nothing has happened.
2007-07-19 10:54:01 · 2 answers · asked by jema2326@att.net 1 in Cars & Transportation ➔ Buying & Selling
Generally a dealership will pay-off a vehicle within 10 or so days.
However, if this dealership is tight on cash they may have to wait for you contract to be cashed or the check you wrote to clear.
Yet, if the vehicle you purchased was floorplanned they have an obligation to pay-off that car first.
It can get a little confusing floating money around to pay-off vehicles. I have heard of dealers taking up to 90 days to pay-off cars. Keep in contact with your CU as well as push the dealer to get it done. It can and will affect your credit.
2007-07-19 11:01:10 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I would think that the problem is now with the dealer and your credit union. If they charge you any interest, then go straight to the dealer and demand the money to pay the credit union.
The dealer will have to pay it off and get the lien released before they can legally sell the car.
good luck.
2007-07-19 11:00:05 · answer #2 · answered by Fordman 7 · 0⤊ 0⤋