dealership didnt pay off trade!!! - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

lee · 09-23-2009, 10:17 PM

so i got my ss 2 sats ago and have been waiting on the letter in the mail saying my truck i traded in was paid off and it hasnt come so i get online and check they havent paid it off yet!! the payment was due today

thats gonna look bad on my credit

coolman · 09-23-2009, 10:27 PM

I would be calling first thing tommorrow to the dealership.

Skyblu · 09-24-2009, 10:36 AM

This happened to me and a friend, it's BS plain and simple. They hope to first sell your trade in before they pay out of pocket for it and you take the hit on your credit! Lucky for me mine was paid ahead so I had a little cushion before things got ugly. I called the manager at the dealership and it got paid the same day. Unfortunately you will have to make that call and stir the pot to get it resolved, make sure you tell them that if your credit gets hit THEY will have to get it resolved for you and make sure they do.

nova · 09-24-2009, 05:24 PM

I could be wrong but I could swear there was paperwork to notify the finance company to prevent that sort of thing when we traded my wife's car ....

lee · 09-24-2009, 07:52 PM

i called the dealership first thing this am and the manager wasnt there and so i asked for the gm and told him the situation and not even 5 min later the finance guy called me saying it would be taken care of today, and sure enough i called my "old finance" company when i got off and they said they recieved payment , i have had so much headache from that dealer, will one day late affect my credit i asked the finance guy and he told me it had to be 10 days? but they will say anything

Mr_Draco · 09-24-2009, 09:13 PM

Quote:

Originally Posted by lee

will one day late affect my credit i asked the finance guy and he told me it had to be 10 days? but they will say anything

7-10 days is about right. They have to have at least a 1 week leeway in case it gets mailed the day it is due.

09-23-2009, 10:17 PM	#1
lee Drives: 2010 2ss/rs Join Date: Sep 2009 Location: Austin Posts: 1,016	dealership didnt pay off trade!!! so i got my ss 2 sats ago and have been waiting on the letter in the mail saying my truck i traded in was paid off and it hasnt come so i get online and check they havent paid it off yet!! the payment was due today thats gonna look bad on my credit

09-24-2009, 05:24 PM	#4
nova Drives: 2010 Camaro 2SS/RS, VR, PW, WR Join Date: Jul 2009 Location: Huntsville, AL Posts: 838 View My Garage	I could be wrong but I could swear there was paperwork to notify the finance company to prevent that sort of thing when we traded my wife's car .... __________________ 2010 2SS/RS, M6,VR,White Rally's,Polished Wheels Mods: skip shift eliminator (hey everybody's gotta start somewhere ) crappily painted engine cover...

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09-23-2009, 10:27 PM	#2
coolman Guest Join Date: Jun 2009 Location: PA Posts: 4,812	I would be calling first thing tommorrow to the dealership.

09-24-2009, 10:36 AM	#3
Skyblu Drives: 2010 Aqua blue 2SS/RS M6 Join Date: Jul 2009 Location: Florida Posts: 990	This happened to me and a friend, it's BS plain and simple. They hope to first sell your trade in before they pay out of pocket for it and you take the hit on your credit! Lucky for me mine was paid ahead so I had a little cushion before things got ugly. I called the manager at the dealership and it got paid the same day. Unfortunately you will have to make that call and stir the pot to get it resolved, make sure you tell them that if your credit gets hit THEY will have to get it resolved for you and make sure they do.

09-24-2009, 07:52 PM	#5
lee Drives: 2010 2ss/rs Join Date: Sep 2009 Location: Austin Posts: 1,016	i called the dealership first thing this am and the manager wasnt there and so i asked for the gm and told him the situation and not even 5 min later the finance guy called me saying it would be taken care of today, and sure enough i called my "old finance" company when i got off and they said they recieved payment , i have had so much headache from that dealer, will one day late affect my credit i asked the finance guy and he told me it had to be 10 days? but they will say anything