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Old 12-09-2012, 09:57 PM   #1
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Screwed at dealer ship

10-24 walked into dealership and negotiated the trade in of my used car and price of a new jeep. 10-25 finalized the deal and bought the jeep. Got home and my wife tells me that we made a payment on the trade-in car that morning $618(auto draft). The dealership did not disclose to me that my trade-in pay off was $600 dollars less. So the money went to them. Is there anything I can do? I feel like I was taken advantage. This is the 3rd jeep in 2 years, and the 3rd jeep dealer. I have yet to have had a good experience with Chrysler dealers.
Thanks for any info,
Matthew

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Old 12-10-2012, 12:00 AM   #2
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Contact your bank... They should be able to take care of it.

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Old 12-10-2012, 07:13 AM   #3
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Anybody else?
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Old 12-10-2012, 07:14 AM   #4
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Why do you think the dealership screwed you? First of all, if you have auto pay, why didn't you stop the payment? Especially when you know you are in the process of buying another vehicle. Secondly, don't know about your bank, but when I used auto pay, it always takes a day or two before the recepient gets the money. So, the dealer may not of known what the real pay off was, when you traded in. Rant over.

Call whoever holds the lien on the vehicle you traded in and make sure there was an over payment on the loan. Also, if there was, then find out who gets the overage. The one time it has happened to me, I got the money. The people that held my loan said that the overage, in their case, always goes to the person that made the original loan, not person that paid off the loan.
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Old 12-10-2012, 07:26 AM   #5
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Any amount in the "pay-off" line MUST go to the bank who owns the note.. If there is extra (like in this situation where you had made a payment that hasn't been deducted from your payoff amount) this overage will come DIRECTLY to you from the lender after the note is paid and finalized. It does take some time to process, but you can check with the bank to be sure. The dealership is in no way entitled to keep any overage of funds from a payoff calculation. Check your contract (what was the payoff amount listed on your buyers order/contract?) and call the bank.
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Old 12-10-2012, 07:26 AM   #6
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Yeah, but you probably don't want to hear it.
x2
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Old 12-10-2012, 07:29 AM   #7
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Seems to me that all the dollars and cents should have been accounted for on the contract. There was a definite payoff to your old vehicle. If there is unclaimed monies, then it should be fairly easy to track the overage and prove that it belongs to you. Contact the dealership and talk to them. If that does not work, then check into the state's consumer fraud division. I would suspect that all states have them.
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Old 12-10-2012, 07:37 AM   #8
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Why do you think the dealership screwed you? First of all, if you have auto pay, why didn't you stop the payment? Especially when you know you are in the process of buying another vehicle. Secondly, don't know about your bank, but when I used auto pay, it always takes a day or two before the recepient gets the money. So, the dealer may not of known what the real pay off was, when you traded in. Rant over.

Call whoever holds the lien on the vehicle you traded in and make sure there was an over payment on the loan. Also, if there was, then find out who gets the overage. The one time it has happened to me, I got the money. The people that held my loan said that the overage, in their case, always goes to the person that made the original loan, not person that paid off the loan.
I was asking for advice not for a lecture "rant over". My wife handles all of our home finances I Handel out business. It wasnt a 100% that I was getting the jeep so we didn't stop payment.
Me and the dealer had the payoff of my other car at 26k that was the price the entire time we neg. the day I bought payoff was 25400, the dealership did not tell me that it changed. I feel ( as business owner) that they should have spoke up.
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Old 12-10-2012, 07:44 AM   #9
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I was asking for advice not for a lecture "rant over". My wife handles all of our home finances I Handel out business. It wasnt a 100% that I was getting the jeep so we didn't stop payment.
Me and the dealer had the payoff of my other car at 26k that was the price the entire time we neg. the day I bought payoff was 25400, the dealership did not tell me that it changed. I feel ( as business owner) that they should have spoke up.
Exactly why is it the dealerships responsibility to inform you that YOU made a payment on your trade in the day after you worked a deal? Seems like there's enough stuff the dealer needs to keep track of, that particular responsibility to fall to the guy who's making the payment!

Either way, assuming your contract says the pay-off is $26k, then you should've receiving the extra back from the bank. Remember that even if they had gotten the exact pay-off correct , the amount changes daily and routinely overages (of pennies, or a few dollars) are sent to banks, so it's SOP for them and you should get a check back soon.

Oh, and FWIW your thread titled assumed that you were "screwed by the dealership" so were you asking advice or slinging mud? Cause you say the one, but your thread title doesn't win you friends when you've obviously jumped the gun.. Remember it's most likely some chump (like me) who works at a dealership) who's going to answer your "question", so next time you may consider phrasing things in a more agreeable manner...

So what was the amount in the "pay-off" section of your contract?
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Old 12-10-2012, 08:06 AM   #10
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Not trying to sling mud, if I was I would have mentioned said dealership. All I am saying is my trade value changed the day I bought, since a large part of the final neg. was the trade-in value of my car why was it not made clear to me that the payoff changed. I'm not trying to cause problems was just looking for advice. And why do you call yourself a "chump"? I think you guys are getting me wrong her. As someone who has built a large business of taking care of people, I fell that this should have been brought to my Attention. That is all


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Exactly why is it the dealerships responsibility to inform you that YOU made a payment on your trade in the day after you worked a deal? Seems like there's enough stuff the dealer needs to keep track of, that particular responsibility to fall to the guy who's making the payment!

Either way, assuming your contract says the pay-off is $26k, then you should've receiving the extra back from the bank. Remember that even if they had gotten the exact pay-off correct , the amount changes daily and routinely overages (of pennies, or a few dollars) are sent to banks, so it's SOP for them and you should get a check back soon.

Oh, and FWIW your thread titled assumed that you were "screwed by the dealership" so were you asking advice or slinging mud? Cause you say the one, but your thread title doesn't win you friends when you've obviously jumped the gun.. Remember it's most likely some chump (like me) who works at a dealership) who's going to answer your "question", so next time you may consider phrasing things in a more agreeable manner...

So what was the amount in the "pay-off" section of your contract?
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Old 12-10-2012, 08:20 AM   #11
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All I am saying is my trade value changed the day I bought, since a large part of the final neg. was the trade-in value of my car
Right, understood. You were negotiating on the value of the car, not the pay-off.

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why was it not made clear to me that the payoff changed.
Because they didn't change it, you did.

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Not trying to sling mud, if I was I would have mentioned said dealership. .......I'm not trying to cause problems was just looking for advice.
Come now, lets be honest.. You came on here to rant because you jumped to an automatic conclusion shared by many of our members here, that dealerships are "out to screw you". Better to own up to it now and take the advice I am offering, eh?

But if you werent here just to rant, Then:

1. Why is the thread titled "screwed at the dealership" instead of "help me understand this?" Or "did I just get screwed?"

2. Why haven't you answered my question regarding your contract. Don't you want the answer to who's got your extra $600 bucks? There is one possible way that the dealer could have screwed you, ya know.. But it's complicated to explain and it involves the buyer being completely inept and clueless to any figure but the payment, so I reserve explaining it until I know that's the case.

So what was your payoff on your contract?
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Old 12-10-2012, 08:25 AM   #12
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And why do you call yourself a "chump"?
Cause I feel like one when I have to come to the defense of some other dealership because someone has jumped to conclusions and created yet another "dealers are scumbags" thread when they could have just paid more attention to their purchase and all the legalities involved! It's not like it's the third largest purchase you make in your life, eh?
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I think you guys are getting me wrong her. As someone who has built a large business of taking care of people, I fell that this should have been brought to my Attention. That is all
Maybe so, and my apologies if I am a bit crass regarding your current dilemma, lets start over.
----------


What is the amount in the line titled "payoff" on your contract? (You should have two contracts, a bank contract for the new loan as well as a general dealership contract/purchase agreement)

As a side note/ tertiary point: what type of business do you own?
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Old 12-10-2012, 08:31 AM   #13
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The pay off was corrected on the contract from 26k to 25500. So did I get screwed? I realize that I should have gone thru the paper work better, but thought that would have disclosed this to me.
And yes it did change because of my payment method, but, you as a salesperson would you have disosed this?
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Right, understood. You were negotiating on the value of the car, not the pay-off.


Because they didn't change it, you did.



Come now, lets be honest.. You came on here to rant because you jumped to an automatic conclusion shared by many of our members here, that dealerships are "out to screw you". Better to own up to it now and take the advice I am offering, eh?

But if you werent here just to rant, Then:

1. Why is the thread titled "screwed at the dealership" instead of "help me understand this?" Or "did I just get screwed?"

2. Why haven't you answered my question regarding your contract. Don't you want the answer to who's got your extra $600 bucks? There is one possible way that the dealer could have screwed you, ya know.. But it's complicated to explain and it involves the buyer being completely inept and clueless to any figure but the payment, so I reserve explaining it until I know that's the case.

So what was your payoff on your contract?
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Old 12-10-2012, 08:40 AM   #14
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My business model is to error to the favor of the consumer. I would rather lose 10k one month to earn a business relationship of a client. This has helped me grow to what I have today. That is all I am getting at.
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Old 12-10-2012, 08:40 AM   #15
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one of the reasons i never trade in---i sell out rite,,,,may take a little longer but more worth it to me,, i have worked at dealerships enough to know they are stealerships..

if i lose a buck or 2 i would rather lose it to some poor schmuck like myself--lol
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Old 12-10-2012, 10:35 AM   #16
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The pay off was corrected on the contract from 26k to 25500. So did I get screwed? I realize that I should have gone thru the paper work better, but thought that would have disclosed this to me.
And yes it did change because of my payment method, but, you as a salesperson would you have disosed this?
I've been on BOTH sides of this fence .......

As a dealership or salesperson, they DID disclose your payoff to you on the contract/settlement/finance forms. So your payoff was reduced by $500? Did the amount you financed ALSO reduce by $500? If so, then you got your money! If not, then you should have listened better when they went over the final papers with you. I ALWAYS have my notes in hand when signing any transaction papers. If there is a discrepancy I will stop the person right there and clarify the difference.

Bottom line ..... either you financed $500 less because they allowed your pay-off difference, or you didn't. If not, you should have paid more attention to the figures.

Was this "shady"? Maybe. But the salesperson and the managers probably had nothing to do with it. Those figures are prepared in the FINANCE office. That's the guy that made the extra money (if it happened).
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Old 12-10-2012, 11:50 AM   #17
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. Thank you for the explanation and not bashing me. Unfortunately it is in my contract that the pay off is minus 500 and they got it. It will be a lesson learned.

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I've been on BOTH sides of this fence .......

As a dealership or salesperson, they DID disclose your payoff to you on the contract/settlement/finance forms. So your payoff was reduced by $500? Did the amount you financed ALSO reduce by $500? If so, then you got your money! If not, then you should have listened better when they went over the final papers with you. I ALWAYS have my notes in hand when signing any transaction papers. If there is a discrepancy I will stop the person right there and clarify the difference.

Bottom line ..... either you financed $500 less because they allowed your pay-off difference, or you didn't. If not, you should have paid more attention to the figures.

Was this "shady"? Maybe. But the salesperson and the managers probably had nothing to do with it. Those figures are prepared in the FINANCE office. That's the guy that made the extra money (if it happened).
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Old 12-10-2012, 01:07 PM   #18
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. Thank you for the explanation and not bashing me. Unfortunately it is in my contract that the pay off is minus 500 and they got it. It will be a lesson learned.
Clearly you still don't understand..

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Bottom line ..... either you financed $500 less because they allowed your pay-off difference, or you didn't. If not, you should have paid more attention to the figures.
Pretty much, lets dig a bit further...

So you financed $500 less, right? Was the payment that they quoted you reduced?

And they wrote your payoff as exactly $25,500... Not some exact odd figure, like $25,021.12 or something?
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Old 12-10-2012, 01:09 PM   #19
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My business model is to error to the favor of the consumer. I would rather lose 10k one month to earn a business relationship of a client. This has helped me grow to what I have today. That is all I am getting at.
And what type of business would that be?
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Old 12-10-2012, 01:34 PM   #20
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I do understand, the overall price did not change. I payed the agreed price of the vehicle. They where supposed to pay 26k towards my old car. They payed 25500. The total I payed stayed the same.
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Clearly you still don't understand..



Pretty much, lets dig a bit further...

So you financed $500 less, right? Was the payment that they quoted you reduced?

And they wrote your payoff as exactly $25,500... Not some exact odd figure, like $25,021.12 or something?
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Old 12-10-2012, 01:36 PM   #21
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And what type of business would that be?
Restaurants.

And please answer the question, would you tell the person buying that the price of the trade in was 500 less or would you pocket the money?
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Old 12-10-2012, 01:39 PM   #22
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So they basically lowered your payoff without you agreeing?
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Old 12-10-2012, 02:12 PM   #23
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And please answer the question, would you tell the person buying that the price of the trade in was 500 less or would you pocket the money?
What do you mean "the price of the trade in was $500 less"? They also lowered your trade in value from what was agreed? Or did they lower your pay-off? Sounds like you are confusing the two, they are completely separate things.... ?

To answer (what i think was) your question: Yes I would disclose the payoff amount on both contracts, and it sounds like your salesman did too. Your payment also went down (versus what was discussed during negotiations), correct?
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Old 12-10-2012, 02:38 PM   #24
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They did not lower trade in value just the payoff, which we agreed would be $26,018.43, after the car payment went thru the payoff a punt was 25,453.00. My sales person was the one that called to get final payoff amount. Why did he not tell me it changed?
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What do you mean "the price of the trade in was $500 less"? They also lowered your trade in value from what was agreed? Or did they lower your pay-off? Sounds like you are confusing the two, they are completely separate things.... ?

To answer (what i think was) your question: Yes I would disclose the payoff amount on both contracts, and it sounds like your salesman did too. Your payment also went down (versus what was discussed during negotiations), correct?
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Old 12-10-2012, 02:58 PM   #25
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They did not lower trade in value just the payoff, which we agreed would be $26,018.43, after the car payment went thru the payoff a punt was 25,453.00. My sales person was the one that called to get final payoff amount. Why did he not tell me it changed?
Once again ..... even though your salesperson called for the payoff, the FINANCE MANAGER is the one that verifies the final figures. At least, that's the way it is at the 3 dealerships I was employed with. Some stores will do things differently, of course.

Matthew, if I were you, I would return to the dealership and ask for the GM. Explain to him what happened (as you see it). Do NOT be rude or accusing, simply state your case. Will that help? Probably not. But it won't cost anything but your time to give it a try. Once a deal is done it is usually sealed in stone. After that, just mark this up as a learning experience and be much more cautious in the future about signing things that you don't understand or didn't read thoroughly. I know it's a pain and you're already fuzzy from all of the paperwork and wheeling and dealing, but when you get to the "table" it's time to clear your head and be diligent about understanding what you're signing. I'm truly sorry for your situation.

KJZombie: He DID agree to the payoff amount ... when he signed the final papers. They usually quickly run down the figures pointing to them ....

....."This is the selling price"
....."and the payoff"
....."and the amount financed"
..... etc.

The problem most folks have is that they are so anxious to get the keys in their hands and get the aggravation over with that they pay zero attention to the actual figures on the documents. None of the stores that I worked with would have done it, but it isn't unheard of for a witty finance man to change the terms or other fine points to throw money in the business' favor. One problem with today's auto sales is the total avalanche of paperwork that has to be done. Years ago we signed the title and handed it over ... deal done. Now it takes an attorney to decipher the paperwork ......
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Old 12-10-2012, 03:03 PM   #26
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If I understand you correctly your contract states your pay off was $26,018.43?
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Old 12-10-2012, 03:32 PM   #27
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Yes, please do return to the dealership and ask for the GM.. Hopefully he has a crayon handy.

:face_palm:
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Old 12-10-2012, 03:43 PM   #28
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Just got off the phone with the dealer. The admitted fault and are sending me a check for the diffrance.
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Old 12-10-2012, 03:48 PM   #29
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Glad you got it done!

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Yes, please do return to the dealership and ask for the GM.. Hopefully he has a crayon handy.

:face_palm:
What's YOUR idea?
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Old 12-10-2012, 03:58 PM   #30
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Ive had the same thing happen on the last several cars Ive bought from dealerships. Everyone of them has sent me a check in the mail within a few weeks after everything clears. If your worried go down and talk to them about it.
My bad didnt see that it was fixed a few min ago.
Glad you got it taken care of.

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