Hope We Don't See This At HD Dealers

Discussion in 'General OFF TOPIC' started by threesteps, Feb 20, 2009.

  1. threesteps

    threesteps Junior Member

    Hope no one gets caught up in this mess.

    I recently listened to a report about a scam/ripoff concerning buying a car that was news to me. Clark Howard (radio/TV Consumer Affairs show) warned about car dealers not paying off the loan when you trade in your car on a new one. Apparently, hard financial times have made this a much more frequent occurrence.

    The first the new car buyer knows about the problem is when the bank sends a letter about being late on your “old” car loan. You are still legally responsible to the bank for the loan so now you’ve got a new car loan and still have the old one to boot. If you cannot get the car dealer to pay up I guess a lawsuit could be the next action. If the dealer has sold your old car, the new owner of your old car can be forced to give it up to the bank.

    Talk about mad........someone hitting me with this would make me REAL mad!:bigsmiley19:
  2. glider

    glider Veteran Member

    This is a perfect example of where your state AG would come in handy. I have used them and it works wonders in getting results.
  3. STEVE07

    STEVE07 Well-Known Member Staff Member Super Moderators

    Here in Ontario a sellers package is mandatory,while that may not help the person that traded the vehicle to the dealer,the buyer would have to agknowledge the lien defore the vehicle was transferred into their name.Little consolation I know,but at least it is something
  4. KingHeritage

    KingHeritage Junior Member

    We just recently had a Chevy dealer here in South Jersey go down for that exact reason.All of the cars he had in stock were towed away and some unlucky buyers were left holding the bag.Building and lot are now empty.Talk about blight!
  5. Spade5

    Spade5 Active Member

    It happened here in Houston and the dealer filed for bankruptcy before anyone found out. It was one of those high volume dealers so a bunch of people got burned.

    We had a simlar problem some years ago with payroll taxes. The company was deducting them from the paycheck but not paying them in. Come tax time employees filed their return but could not get a refund because nothing had been paid in.

    You never know.
  6. fin_676

    fin_676 Experienced Member Staff Member Moderator Contributor

    in uk there is a thing called an hpi check which will confirm if a vehicle is subject to any finance, and whether or not it has been subject to insurance write off, or has ben reported as stolen
    so if your buying a second hand vehicle for about £20 you can check out the real owner and know if its a good one

    can be done by text from mobile, online, or by phone and is not unusuall to get an hpi certificate as part of a 2nd hand purchase

  7. TheBoomer

    TheBoomer Member

    A few years back Riverside Mitsubishi in Auburn, Massachusetts was caught doing that very thing. Riverside was put out of business at the time and the owner was chased all over the eastern seaboard to make good on his theivery...
  8. Mavagrand

    Mavagrand Senior Member

    my local chevy dealer was arrested for this. still in jail
  9. KingHeritage

    KingHeritage Junior Member

    That's the story the local news reported,Rich
  10. Tommy LT

    Tommy LT Active Member

    The dealer was late paying off my truck trade-in. I stayed on their butt for two weeks until it was finally paid. :small3d023: