Need some advice on Auto Loan Collections
Date: Mon, 01/16/2006 - 07:33
We got a beautiful new car, and we couldn't be happier with it. The salesman at the legit dealership we bought the new car from gave us over $4000 for our trade-in, which was well over what was owed on the old car. He assured us that our loan with the buy here/pay here auto mall would be paid in full by them and we would not need to worry about our old car payment. The old car was signed over to the new dealership and we drove the new car off the lot.
And now we have a problem. We are being harrassed by the auto mall that sold my boyfriend his last car about making a car payment! This was supposed to have been settled between the old place and the new place. We don't even have the car anymore! Can anyone tell me if there is an obligation for us to pay on a car that has been signed over to someone else? The agreement between the new car lot and the old one was that they would have to pay the loan off in full by 1/21/06. I just feel like if we send them a check, we will end up getting screwed out of money, and I don't have time to wait on the refund check that they say they would issue after they are paid by the new auto mall. Frankly, I don't trust them enough to do that.
Please give me some advice on this, especially if you have been through a similar situation. I just don't see how there can be any obligation to pay on 2 cars at one time when one of the cars isn't even in our possession anymore.
If you have the agreement in writing,and the 'legit'company took
If you have the agreement in writing,and the 'legit'company took your old car,then they are responsible for the payoff of the old car.Did you call the dealer and ask them why they have not paid off your old car?You need to go to the dealership and talk to the person in charge,to make sure this salesman took care of things and did the paperwork correctly.Again,if you have a contract in writing,stating that your old car will be paid off by them ,then you should have nothing to worry about.Maybe the dealer just needs to call the auto mall and let them know the check is being sent by 1/26.Let us know how it turns out.Good Luck
[quote=peeved]He assured us that our loan with the buy here/pay
[quote=peeved]He assured us that our loan with the buy here/pay here auto mall would be paid in full by them and we would not need to worry about our old car payment.
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Do you have any written deed of the above statement? You need not worry any more, if you have. Produce these papers to the auto mall and ask them to contact the ???new place'. Do you have any papers of your dealing? Then go through it carefully.
If you don't have any paper document, contact both of the places and explain the situation. It does not seem from your post that any formality is left on your part.
I used to work for a major automaker (I will leave out names), b
I used to work for a major automaker (I will leave out names), but I can tell you that the best person to contact if the ball has been dropped is the Area Sales Manager, he oversees several dealerships and will usually take care of things fast. If they do not take care of their obligation, you can threaten to report them to the BBB....dealerships usually do not like this because they get rewarded based on customer satisfaction. The higher their ratings...the more expensive cars they are allowed to sell. For example, if dealerships have poor customer service according to surveys filled out, they are not allowed to sell Corvette's...if they have excellent customer service, they get allotted a certain # of corvette's they can sell. So see, they usually try to take customer satisfaction seriously.
