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Old 04-05-2013, 10:06 AM
 
7 posts, read 11,395 times
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I bought a pre-owned truck from a huge dealer in Houston. I was told the trade in had to clear before i could bring it home. It's been week and they keep telling me they are waiting to get paid for the previous deal so they cant give me the truck. How can i get this truck?
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Old 04-05-2013, 10:12 AM
 
Location: Northern MN
3,869 posts, read 14,269,128 times
Reputation: 3593
They could be waiting for the title.
They can't let you have it until then.

but that is just a guess as to what the hold up is.
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Old 04-05-2013, 10:16 AM
 
2,341 posts, read 10,737,476 times
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If you owed money on the vehicle you traded in, the dealer has to pay off that loan, and wait to get the lien-release card, before they can get the title. Depending on the bank, this could take a couple weeks.

I suspect that's what is going on. If it's a legitimate dealership (as opposed to one of those "buy here pay here" crap holes), there's nothing horrible going on.
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Old 04-05-2013, 10:20 AM
 
7 posts, read 11,395 times
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thanks for responding...I didn't have a trade in. I bought a trade in that they are waiting to get paid for. They keep telling me they are waiting for the check to come in the mail. If i have already signed the contract and been approved for the loan. Can they keep me from getting this truck if its been sold to me?
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Old 04-05-2013, 10:29 AM
 
Location: Cole neighborhood, Denver, CO
1,123 posts, read 2,794,305 times
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Quote:
Originally Posted by mgshouston View Post
thanks for responding...I didn't have a trade in. I bought a trade in that they are waiting to get paid for. They keep telling me they are waiting for the check to come in the mail. If i have already signed the contract and been approved for the loan. Can they keep me from getting this truck if its been sold to me?
That doesn't make any sense. If they 'took' a trade-in, why would they be getting paid for it? I'm guessing the dealer had to pay off the older leinholder, then get the title and transfer it to your lender. I would talk to your lender and verify that your loan clock doesn't start until they receive the title from the dealer.
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Old 04-05-2013, 10:31 AM
 
Location: Northern MN
3,869 posts, read 14,269,128 times
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"I was told the trade in had to clear"

The vehicle your buying is used.
They need to have the title from the previous owner first.
The title has to clear.


If it's about your payment.
Why did you mail it?
They will not let it go with out securing payment first regardless of you singeing the papers.
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Old 04-05-2013, 10:32 AM
 
7 posts, read 11,395 times
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I spoke to the lender, they have nothing on file of me at all
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Old 04-05-2013, 10:34 AM
 
227 posts, read 969,102 times
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they are scammers i bought a truck from there before and paid them they never gave me truck.
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Old 04-05-2013, 10:40 AM
 
238 posts, read 557,016 times
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I'm always leary of used car dealers advertising on TV........" POOR CREDIT ?, NO CREDIT?............it just doesn't matter "
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Old 04-05-2013, 10:45 AM
 
Location: Northern MN
3,869 posts, read 14,269,128 times
Reputation: 3593
Then you found the problem, the dealer is waiting for you to pay for it first.
pre-approved does not mean the check is ready to be sent to the dealer.
Call the dealer then go to your bank and do the paper work.

Quote:
Originally Posted by mgshouston View Post
I spoke to the lender, they have nothing on file of me at all
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