What should I do if a dealership took my car as a trade-in but never paid the loan balance off and it has been over 30 days?

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What should I do if a dealership took my car as a trade-in but never paid the loan balance off and it has been over 30 days?

A dealership took my car as a trade in but never paid the car off. It has been over 30 days and now my bank is contacting me regarding delinquent payment. My credit is being affected daily and the dealership is saying they mailed the check 2 weeks ago but the bank has no record of it.

Asked on March 22, 2012 under General Practice, Arizona

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You need to carefully read your trade in/purchase agreement concerning the car that you traded in to make sure that the dealer agreed to pay off your loan on the car that you traded in. If that is the case and the loan is not paid off, you need to send your lender a copy of the agreement as well as the dealership to get the issue squared away and resolved within a set period of time.

If the dispute is not resolved within the period you desire, you should consult with an attorney that practices in the area of automotive law to try and get the situation remedied.

 


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