Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am not talking out of both sides of my mouth, we are talking about two different issues.
One is what if anything is in the contract regarding a discrepancy on the dealer's part due to an incorrect report of the payoff amount.
It's there but yet you still feel you have to call them the "stealership".
Quote:
The other is shady dealers, lying and cheating people with similar scams making it difficult for legit dealers to conduct business. Next, you will tell me the dealer really does want my specific car to trade in and it really is in high demand, so I should really just rush down and do a deal RIGHT NOW.
It is a standard trick in that business to call a few days later and say financing fell through and the deal has to be re-negotiated. Read the paperwork closely and it is in there.
Now the OP said the financing was all approved so I say tell the dealer to pound sand.
They signed the contract saying they are responsible for the actual payoff.
But do you know FOR SURE that the financing was approved? We've bought many vehicles after bank hours. We signed all the financing paperwork and took the car home. HOWEVER, there is a clause in the contract that specifically states if the payoff is different, or the interest rate is changed when the financing institution opens the next day, the buyer will be liable for all additional incurred costs. Or... if you are not approved for financing you will be liable to either return the vehicle and the deal is null and void and you are responsible for any mileage, etc... , or responsible for another form of payment (Not in those exact words, but this is the jist of it) They will still let you take the car, but if something falls through it's on you.
A good dealership will verbally tell you this and show you where in the contract this is stated. But if they don't...... you should do as much research as possible to make sure you know what questions to ask to cover yourself.
They are supposed to call the loan company that your car is with and ask for a 10-day payoff ammount. If they failed to do this and just guessed its on them.
Old thread but very correct. It's on them if they didn't call and get the payoff/per diem amount
Another good reason to use your own financing. That way you know you are approved when you purchase that car
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
