im paying bank for vehicle that the car lot claim back indirectly from me....im still making payments on it, eventhough car lot induce me to sign a second contract to an even trade that would get me a decend vehicle with proper documentation which has not happened 100%..........>>>
2007-12-07 22:08:17 · 5 answers · asked by angel81 3 in Cars & Transportation ➔ Insurance & Registration
So what you are saying you signed a contract without actually having the vehicle delivered to you? If this is the case get a lawyer, no matter what state or province is against the law for any seller to promise any product on pretenses of delivery when a loan is requested, I am not sure what the word is but the bank is been defrauded because as they require the vehicle to secure the loan but since it has not been delivered there should of not been any loan money transfered. Sure there could be a deposit but the actual transaction could not occur until the vehicle is delivered to you even if you signed the papers(says the money is due by a certain time but so is the vehicle so even if you signed the papers if the vehicle is not delivered the document is void), the bank is the actual owner of the vehicle until you pay them in full. Guess what If that is the case lawyer up you got nothing but wining on your side, do talk to the bank as well they will be more than glad to listen to you because they will also have something to win out if it(talk to a bank manager not the person who approved the loan) if this was an in house thing talk to the police they will defenetly have something to say about it.
2007-12-07 22:29:16 · answer #1 · answered by wiseornotyoudecide 6 · 1⤊ 0⤋
Sounds as he took out a second car note to pay off the difference he owed on the car the car lot is or has sold. And now buyer remorse has set in because the car lot forgot to make payments on the car he formerly owned. WARNING you have to set up the sale of your old car and pay off the bank before purchasing a new car. Don't be hoodwinked into thinking the used car lot will keep making payments. They will with the paper work you signed pay less than the bank wants put a mechanics lein on the car for fictious repairs and the bank will hold the former owner responsible. CAR SHARKS are they not wonderful! Don't forget if you getinto an accident your also have to pay off the second car loan that won't be covered by the car insurance.
2007-12-07 23:19:40 · answer #2 · answered by John Paul 7 · 0⤊ 0⤋
This question is really hard to understand.
If you have a loan, that you used to buy a car, you need to pay the loan off.
It doesn't matter if you still have the car or not. If you signed a paper to pay back a loan, you have to pay back the loan. If you sign ANOTHER paper, that doesn't get you off the hook for the original loan. They're all seperate deals.
2007-12-08 04:52:05 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
I think what you need to do is talk to the district attorney.This sounds like they are doing something that's probably illegal.
2007-12-07 22:26:54 · answer #4 · answered by Just me again ☺ 6 · 0⤊ 0⤋
ITS ATTORNEY TIME NOW.
2007-12-08 00:36:39 · answer #5 · answered by Anonymous · 0⤊ 1⤋