ahmnav Posted January 4, 2008 Report Share Posted January 4, 2008 hi everyone I need some help. I purchased a 2007 nissan titan in may 07. The gas prices starting going up so i was paying $100 a week in gas jus to get back and forward to work. I traded in the truck for a 07 camry on 11-20-07. I was fin. through wells fargo bank, the check was cut on the same day to the dealership. it is now 12-31-07 and the dealer still has not made the payoff on the truck. they deposited $800 in my bank account to pay that truck note which they have for the month of november and december. They told me it would be paid off by the end of december. I spoke with them on 12 -31- 2007 and explain to me that they had to floor the vehicle bacause they were not able to get the trade in value for the truck, on the paper work they offered me 19000 and told me they were only able to get 15000. he explain that they were $2000 away from paying the car off and were waiting until after the holiday for new customers to by cars. they told me it would be paid off by 1-10-08. What would be my next course of action to get this taken care of. Link to comment Share on other sites More sharing options...
Krash Posted January 4, 2008 Report Share Posted January 4, 2008 well first off, i see you are in GA what part? I sure don't want to deal with this type of auto sales place.. Also it shouldn't matter they they "claimed" they sold it for x amount and they were "saving" up enough, I noticed you said they gave ya 800 bucks to make the payment, atleast they are doing that.. Anyone else that can help this person please do so! Link to comment Share on other sites More sharing options...
jq26 Posted January 4, 2008 Report Share Posted January 4, 2008 I have never purchased a new car or trade one in for that matter. But this seems strange. I thought when you make a trade, they deduct that amount from your new loan amount. so for instance, I buy a $30k new vehicle. I have $2k in cash and $8k in trade-in. My new loan is $20k and the deal is done. No??? If the $19k was truly a trade-in value, then if they sell for less they eat it. If they were helping you sell it, you eat it. Seems clear cut. Link to comment Share on other sites More sharing options...
Moneedshelp Posted January 4, 2008 Report Share Posted January 4, 2008 not clear as to what is going on here. Did you trade the truck in? It appears that they may be trying to sell it for you and in that case it may be that you take what they can get for you. Look at your agreement. If it was in fact a trade, then they don't get time to determine how much they can get for the truck. What they said they would give you is a done deal. Good luck Link to comment Share on other sites More sharing options...
msldystrkr Posted January 4, 2008 Report Share Posted January 4, 2008 I have traded before and have never had a payment not reach the lien holder within 14 days.... It is apparent that this dealership is not stable enough to be able to pay this off prior to reselling. I would first go and see the accounting manager in person and see what their problem is. If that doesn't cut it then I would call your state DMV that regulates dealerships and ask them about it. I would also go to the city business license office and see what they have to say. And don't forget the AB and BBB! One slip up and this can come back and bite you! This is still your responsibility. I am surprised that the lien holder has not issued forced insurance on it since I am sure you canceled the insurance. AND if they do this you are still responsible for the fees. Good Luck Link to comment Share on other sites More sharing options...
ahmnav Posted January 5, 2008 Author Report Share Posted January 5, 2008 this was a trade in. I purchased the truck new for 23000 with tax ,title and tag included for company A (first loan was provided by a credit union to company A). I traded in the truck 5 months later for a new toyo camry for 18000 with company B. on the paper work company B offered me 19000 for the truck and their was a little negative equity rolled over on to the car. Company B received the check from wells fargo for 23380 for the negative(5000) roll over and the 18000 for the camry = 5000 + 18000 +fees= 23380 . (wells fargo provided the second loan for the trade in.) Company b was given the check on 11-21-2007 and has not made the payoff to the first lien holder of the truck which is the credit union. It's been 45 days since the transaction. They told me they were not able to get the 19000 they promise for the trade in on the truck. They were only able to get 15000 and were waiting for people to by more cars to make up the difference. How can i fix this Link to comment Share on other sites More sharing options...
divinemadness Posted January 10, 2008 Report Share Posted January 10, 2008 from what it sounds like- this is not your problem- and this dealership needs to pay off the truck -- did u sign over the title? call wells fargo and tell them that the check u gave the dealrship is not being used to pay off your old loan, cancel it and send the new check directly to your old loan company...if they havent cashed it already..., i think this is sounding fraudlent. i dunno though, dont take my word on it, but it sounds strange...i would get all over this like white on rice.what kind of dealership was this? big dealer or small? Link to comment Share on other sites More sharing options...
Moneedshelp Posted January 10, 2008 Report Share Posted January 10, 2008 I would contact BBB and AG for your state. It doesn't appear that the dealership can make changes to the contract without your approval. Examine your documents to make sure the company didn't reserve rights t change items. I don't think they would have done so. Send the dealership a letter demanding that the loan on the truck be paid in full immediately. don't wait too long on this one. The good thing is they have paid the last two notes, but how long can you depend on that? Good luck Link to comment Share on other sites More sharing options...
CadillaCricket Posted January 15, 2008 Report Share Posted January 15, 2008 I would contact BBB and AG for your state. It doesn't appear that the dealership can make changes to the contract without your approval. Examine your documents to make sure the company didn't reserve rights t change items. I don't think they would have done so. Send the dealership a letter demanding that the loan on the truck be paid in full immediately. don't wait too long on this one. The good thing is they have paid the last two notes, but how long can you depend on that? Good luckExcellent suggestions, as this sounds very fraudulent. Find an attorney or licensed legal professional to help.. Take all of your paperwork to the prosecutor if all else fails..Good luck, and next time choose your dealership wisely... Link to comment Share on other sites More sharing options...
CloudX Posted January 15, 2008 Report Share Posted January 15, 2008 this was a trade in. I purchased the truck new for 23000 with tax ,title and tag included for company A (first loan was provided by a credit union to company A). I traded in the truck 5 months later for a new toyo camry for 18000 with company B. on the paper work company B offered me 19000 for the truck and their was a little negative equity rolled over on to the car. Company B received the check from wells fargo for 23380 for the negative(5000) roll over and the 18000 for the camry = 5000 + 18000 +fees= 23380 . (wells fargo provided the second loan for the trade in.) Company b was given the check on 11-21-2007 and has not made the payoff to the first lien holder of the truck which is the credit union. It's been 45 days since the transaction. They told me they were not able to get the 19000 they promise for the trade in on the truck. They were only able to get 15000 and were waiting for people to by more cars to make up the difference. How can i fix thisI work for a Toyota dealership here in Tx... my suggestion would be to contact the GM (general manager) and the customer relations manager. Tell them both that you are very UPSET and that this is INSANE because a simple matter of a few thousand dollars to them is hurting you and that once you get there survey, you are going to ensure Toyota finds out about them. Also mention that you are in the process of writing to BBB and Toyota about this incident. Also, as a sly move, ask who owns them (there really is no such thing as a big dealership that is family owned) and where you can send a complaint to for the owners. Surveys are huge in Toyota land and that should get them moving. Getting the customer relations manager and GM involved in KEY. If that doesnt work, move forward with your threats to the BBB and Toyota, let them know where they messed up. Also a dealership has great relations with banks, write a letter to your bank as well to get them involved. I hope this helps, good luck. If you tell me what dealership it is, I can give more than likely find out the GMs name and customer managers name. PM me if you want...CloudX Link to comment Share on other sites More sharing options...
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