mrbaird2016

Ok I bought my new to me truck on Sept 9th made the deal ...I traded my 2009 lariat in they paid (supposed to) it off with little equity in the new deal. Well 25 days later still haven't paid the old one off!!! I called talked to a lady in finance she tells me the salesman should have told me they we're 30 days out on pay-offs so I scratch my head say ok I get it. They had the pay-offs on Sept 9th from Wells Fargo. So on the 15th oct I made my pmt on the 2009 i traded, I figured if they pay off with the original amount I'll get a little back, and won't hurt my credit. To my surprise I checked today It still isn't paid off close to 60 days later!! Now I'm pissed I've made one extra payment also made one on the new truck and now have yet another due on my old one what are you guys suggestions if this continues to drag out I'm pissed beyond anything I called right before they closed today. What are my options???!

RandyinTN

mrbaird2016

Looks like every one I've ever done truck price (one I bought)
has payoff/ trade in (old truck) net financed is x amount ect ect....

mrbaird2016

Looked all through it just says they are paying my trade in off
what ever it was that day and nothing about when that's supposed to happen though I have never had to make another payment on the vheicle I traded ...then again bought all the rest from Ford lot found my gem at a Alfa Romeo fiat dealership in McKinney Texas

Dbeau2

Did you not look at all the negative reviews? There is other people like you having the same problem. I hope it works out for you.

s140s

iTrader: (2)

I had this happen before when I bought my previous vehicle. I had a payoff of $1500 while my equity was $8500. I got the new vehicle, and 2 weeks later I get a call from my credit union that I have missed a payment, I explained eveything to the credit union but they advised me I am still liable for the vehicle along with the insurance. I made the payment, reinstated the insurance and gave the dealer a friendly visit. Finally they paid off after 40 days, I gave them proper review everywhere I could, and went on with my life.

Fordtunate_18

Something fishy going on here. Anytime you call a bank and get a payoff amount, it will always be for a limited time. The dealership knows that and you know that. The dealership agreed on a price for your trade knowing you had some balance due and you made a deal based on that amount. Now because they haven't paid off in time, the bank is holding you to your loan agreement. I would go to the dealership talk to their manager in person and see if you can get some immediate action. Just be very nice and polite at first because it might be an isolated sales rep screw up. If you don't get the right answers or response, contact the local better business bureau and lodge a complaint.... then social media reviews and start venting. Surely there is some regulation in fine print that governs this kind of behavior otherwise what is to keep any dealer from paying off trade ins.

mrbaird2016

With this being what I had to go on and every dealership has skeletons in their closet I read the good bad and ugly...... 4.0 ain't bad some Ford dealerships have same issues ...so I can't base my shopping completely on Google the people their weren't pushy and I liked that ......

Fordtunate_18

Not sure what state you live in but I asked my son who works in the finance department at a local dealership in Texas. I gave him the scenario and he says by law dealerships cannot keep any over payment so the most you will be out will be the interest only fort the one or two payments you make. He said they will not payoff your trade until your new loan is funded so its possible that there was a hang up in your loan somewhere and then again a delay making the pay off. Your state law might be different but hopefully there is similar protection. Even though you will make an extra payment or two any principal balance should get refunded back to you.

mrbaird2016

I've sent alot of emails to the people that respond with negative reviews in hopes of a call I'll be stopping by after work tomorrow and illI be nice, till it's time to not be but jezz
just makes you think if I wasn't in a position to make the extra payment i.e college kid or single mom this type of thing could sink someone!!!! F#$$ers lol