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Help! having trouble dealing with a car dealer who wont pay for my trade
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Thread: Help! having trouble dealing with a car dealer who wont pay for my trade

  1. #1
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    Help! having trouble dealing with a car dealer who wont pay for my trade

    SO here is the deal....


    I had a Infiniti QX56 the vw dealership took my trade . I was $4500 upside down, plus I made a down payment of $500, and the car dealship charged me $1000 saying that oh I thought you said to put $1000 on the credit card. Then I got a call just now saying the bank to going to start the process to repo my car. I was current on payment when I traded in the car. I sign paperwork saying I am no longer the owner or have ownership. how can I get them to comp me for the fact that it goes on my credit report and being charged for payment I wasn't to pay for.

    who do I contact?


    Also the dealership I went to today saying its all my fault, and also they did nothing wrong.

    any help would be nice.

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    Moderator map's Avatar
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    The first thing I'd do is contact a lawyer and have him review the paperwork you signed during transfer. Also pull your free credit report and take it into the lawyer. The lawyer will be able to explain who is responsible for which cost. IF you were no longer responsible for payments, you can challenge negs on your credit report. Make sure the $1000 was applied against your purchase cost.

    Dealers do that stuff all the time, especially when trying to finance an upside down loan. The salesman says they can get you out. When finance can't juggle the figures, they slide false documents in front of you to sign. It's all supposed to be explained to you at time of purchase, but if signed, it's hard to dispute later. (I got caught in a similar bogus contract; signed for GF to be primary borrower; they swapped names so it didn't count towards her record.)

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    Sorry to hear Joseph. I agree with map. You've already got your answer from the stealer, so get a lawyer involved. Hopefully they can do something for you. Fingers crossed for you and hang in there.
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    Not sure if this has been resolved or if any updates but the op seems to have left out a lot of detail for anyone to attempt to assist.....dates or even timeframes would help such as when was the actual transaction? Leaving out the whole 500/1000 issue I would be much more concerned with the possibility of a repo hitting my CBR. If loan on the Infinity was current at time of trade in, how much time has passed? A bank wont repo a car @ 30 days DQ unless it was a sub-prime loan or similar and even then 30 days is way premature. I'd like to help if I can but not enough to go on unfortunately.....

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    They said the would start the motion, and could finalized at about 60 day. But still it looks bad to me, and my credit report. Update; the dealership paid off the bank after I threatened to sue them. The GM said “oh your credit will improve because of this.” I am still worried about my credit score, rating and report.

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    Ok, so then some follow up questions...did you get a demand letter from bank, usually comes certified but not always? Have you verified on your CBR's how the bank loan is currently being reported (i.e. does it show current, delinquent or repossessed)? I ask this because although the bank may say they "started the process" doesnt mean they can report a repo when there is a demand letter out and the expiration date on that demand hasnt expired, etc.

    If the bank is NOT reporting the loan as a repo and since you mentioned the dealer has paid the balance then it should end there. I would continue to monitor all 3 CBRs though.

    Now, if your credit reports are showing the loan past due or even worse as repossessed that's a whole other issue. The dealer at this point cant help and as you know car dealers have nothing to do w/credit reporting even though they seemingly caused this issue. The issue is now w/the bank and the incorrect reporting of the loan status when you didnt have possession of the vehicle. Also, I assume you signed a power of attorney when the dealer took your trade in? Generally they would point that out when you were signing docs and the POA form is usually pink-ish in color and multi-formed. If you did sign a POA one of copies (usually yellow or white) should be in your docs you received from the dealer.

    We can dig into this a little further once I hear back from you on my above questions if you would like....

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