Quote:
Originally Posted by KowalskiCamaro
The owner of the dealership spoke to me today and said he would not pay off my trade in until I come into the dealership and settle the difference. GEEZ! Can he really do that?
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No he can't, well not this late he can't. This is just a bluff trying to scare you into giving them the money.
By law dealers have a set amount of time to pay off trade in's or pay massive fines.
Ask yourself this, since you traded it in, have you ever been asked to make another payment on the traded in vehicle? My bet is no you haven't.
Also something else you can do is call the company you had the loan of the trade in with and inquire about it. If possible go there and request a copy of the sign and dated paperwork for the payoff.
Another thing you can do is mail a Debt Validation Letter via certified mail to the owner. What this will do is prevent them from contacting you in any shape or form about the money for 30 days under the Fair Debt Collection Practices Act (FDCPA) or you can sue them for $1,000 plus damages for EACH contact. If after the 30 days they haven't validated the debt, ALL contact between you about the money must cease or you can sue them for $1,000 plus damages. Another thing, this prevents them from taking you to court or you can sue them for $1,000 plus damages. If you want to learn more about this route go to
http://www.creditinfocenter.com/rebu...lidation.shtml