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Discussion Starter · #1 ·
I recently purchased a new jeep at a local dealer in Florida. They gave me x amount for my trade in and I left a happy customer. It has been two weeks since we closed the deal and now they are telling me they need additional money because they overpaid for my trade-in. I was approved for financing and the loan has already originated so they can't say I didn't get financing. Also, they are telling me they will not pay-off the loan for my trade-in (which they now own) until I give them more $$.

Isn't this blackmail/fraud?
 

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Im not really sure what the deal is but I have heard of that happening around here on occasions! Be a cold day in hell when I forked over more cash. Especially 2 weeks later. If they paid too much thats their damned problem! Might want to contact BBB or local consumer fraud.
 

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Whoa! Tell them to put that demand in writing and have the dealership's GM sign it.

Bet they back off......
 

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While the opinions you get here will free, it sounds like you need to gather up all the paperwork and go pay for an hour of a good lawyer's time.
 

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Did you use the Chrysler Affiliate Rewards, or any other program to purchase your Jeep? What did you pay in relation to MSRP and factory invoice?
 

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What is the difference they are asking for? Say you can drop the Jeep back off, after you speak with your states attorney general. And to have your car waiting.
 

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Sounds fishy to me. Papers were signed and the deal has been made, they are responsible for the accuracy of the black book trade lists that they use to look up trade-ins. If they're not standing by their deal, and you've received the new jeep, the trade in value is now their issue and you have the papers saying they would resolve your old loan. Now, only getting one side of the story and I could be very, very wrong, but it seems they're out to lunch.

Just my two cents

Cheers,
 

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Discussion Starter · #8 ·
Did you use the Chrysler Affiliate Rewards, or any other program to purchase your Jeep? What did you pay in relation to MSRP and factory invoice?

The MSRP was $30,500. I paid $28,500 which included the Jeep Conquest program which gives you $1,000 off.
 

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I recently purchased a new jeep at a local dealer in Florida. They gave me x amount for my trade in and I left a happy customer. It has been two weeks since we closed the deal and now they are telling me they need additional money because they overpaid for my trade-in. I was approved for financing and the loan has already originated so they can't say I didn't get financing. Also, they are telling me they will not pay-off the loan for my trade-in (which they now own) until I give them more $$.

Isn't this blackmail/fraud?
Technically, they don't own your trade because they would've had to have paid off the loan to get the title.

I'm a little confused ... Are you still driving your trade or do they have it? Do you have the jeep in your possession then if you don't have trade? Did you sign a deal?

T
 

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I don't think they can ask for more because they overpaid for your trade. Are you sure that they aren't saying that the pay off balance on the trade was more than you/they thought at the time you did the deal. Most dealers have you sign a form saying that the payoff is x, but if it is really x+250 you will pay the 250.
 

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Discussion Starter · #11 ·
What is the difference they are asking for? Say you can drop the Jeep back off, after you speak with your states attorney general. And to have your car waiting.

It's over $2,000. My gut tells me this is a strong arm attempt as I'm sure most people just pay up.
 

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Discussion Starter · #12 ·
Technically, they don't own your trade because they would've had to have paid off the loan to get the title.

I'm a little confused ... Are you still driving your trade or do they have it? Do you have the jeep in your possession then if you don't have trade? Did you sign a deal?

T

My trade was left at the dealer two weeks ago when we closed the deal. I have had the jeep in my possession since then.
 

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Discussion Starter · #13 ·
I don't think they can ask for more because they overpaid for your trade. Are you sure that they aren't saying that the pay off balance on the trade was more than you/they thought at the time you did the deal. Most dealers have you sign a form saying that the payoff is x, but if it is really x+250 you will pay the 250.

Pay off was $25 less than what the contract sais. I let it slide because Im sure it takes them some time to pay it off.
 

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:rofl:

I'm dubious. Your first line of inquiry however is to READ YOUR CONTRACT. What, exactly, did you agree to do with regard to your trade-in, financing, etc.? I know it gives you a headache to read all that fine print, but you've got to figure out what you "agreed" to. (Of course, you should've already done that . . . .) So go find all that paper you left the dealership with and start reading.

Based solely on what you've said here, I'd expect there's a reasonable possibility your contract solves the matter in your favor. I know financing approval provisions can be contingent and thereby provide dealers with some ability to "claw back" a deal, but that doesn't sound like what's happening here. On the other hand, if the contract cuts in their favor with some kind of provision allowing the dealer to change its mind after having your trade appraised or some such thing, then you've got to decide whether you're going to go along, potentially challenge the contract, or simply argue that they've misinterpreted their rights under the contract.

Whatever you conclude, call the dealership with your new found opinions as to the contract and argue with them. If they are undeterred, then--unfortunately--I would recommend you get a lawyer. I wouldn't send the dealership anything in writing at this time, though if you can get them to send you something in writing explaining their position that would be great.

Without a lawyer, I don't like your chances for just not taking their phone calls and "hoping all of this goes away." I don't like the threat of not paying off your loan on the old vehicle. Depending on the state of the paperwork, that could very well impact your credit dramatically. The dealership may also try to have your new Jeep repossessed.

In short, my opinion is that you need to educate yourself on the terms of the contract and push back on this immediately. If they don't cede, you need a lawyer.
 

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Discussion Starter · #16 ·
Didn't you have to sign a paper stating how much they were giving your for your trade when you closed the deal? I know i did.

I did. I have all the documentation showing what they agreed to pay. The problem is they are holding my hostage by not paying the trade in pay-off that was agreed in the contract.
 

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Happened to me about 14 years ago in Nevada. I just turned it around and said to
them, "OK, I understand. Let me ask you this, What do you intend to do about the
Two Grand I feel I was OVER CHARGED in my Purchase?". After about 4 minutes of
future conversation I was told to never mind, that they would take care of the issue.
Never heard another word, and it was like I had never received the call.
 

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Are you sure the reasoning for you "owing" them money is that they paid too much? I am a new Jeep salesperson, and as far as I know, once all the documentation is signed, and the delivery is done, they have no right to ask you for more.

Now, if something that was agreed upon, like a special rebate, or qualification for a specific discount, was what they are asking for, it may be a different story. Have you received your new registration and/or tag yet?

With the information you've provided, I'd say you owe them nothing. I'd even put a call in to the general manager voicing your concern.
 

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I did. I have all the documentation showing what they agreed to pay. The problem is they are holding my hostage by not paying the trade in pay-off that was agreed in the contract.
I would contact the bank that your payoff was with, and make sure to keep the payments up to date. If they are really not going to pay off the loan, you don't want your credit affected because of it. Also, get in contact with the new lien holder, and make sure they have all the accurate information according to your contract. I would do both of those things, as a precaution. You don't want to have to fight this, PLUS have your credit damaged.
 

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If you have signed paperwork from the dealer they can't change it now unless there was a pay off amount difference for your trade, or, some other type of condition in the paperwork. I hope you have read every word of the agreement. They might have made the deal to get the sale & now trying to get additional $ from you. I would bet this isn't their first rodeo with this tactic. If you go for it they make out. This is not a reputable dealer on the face of it. I'm sure they get alot of individuals to pay up. If this happened to me I would tell them if they wanted to back out of the signed deal they can have their "new" vehicle back and I would take back my trade. I couldn't do business with that type of dealership. If you confront them calmly and matter of factly I bet they back off. If you get emotional you'll end up the bad guy. You can always lodge a consumer complaint to whatever dept. in FL handles that type of issue, but that could take awhile. If they're doing that to you it probably would be just one of many complaints against them. You can also contact Chrysler. I think an attorney would be your final resort if you have a "contract". Again, I couldn't continue to do business with them let alone trust their service dept.
 
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