dealer has not sent payoff for trade in

[Jhanksm3]

Whats up all, just wondering if there is anything I can do about this dealership that I have traded my old vehicle into for the M that I picked up on July 30. It is now August 27 and my car loan for the vehicle that I traded in is still not paid off. Im wondering if I should contact a lawyer, or should give it another week. I also have not received tags. this whole situation driving me insane. Not ready to pay 2 car notes

[bkdore]

Call the bank and let them know you traded the car in. If you send them the paperwork/ Bill of Sale for your trade then they shouldn't bother you for any more payments and it won't affect your credit.

[Jhanksm3]

I appreciate that I will do that

[Amirsm3]

Originally Posted by jhanksevo

Whats up all, just wondering if there is anything I can do about this dealership that I have traded my old vehicle into for the M that I picked up on July 30. It is now August 27 and my car loan for the vehicle that I traded in is still not paid off. Im wondering if I should contact a lawyer, or should give it another week. I also have not received tags. this whole situation driving me insane. Not ready to pay 2 car notes

Do you have the documentation of the trade? From what I understand, you have to sign over power of attorney for them to take over the vehicle, so I feel like this would beCall your lien holder for the previous car and see if they'd be willing to help you expedite the prociess.

Have you contacted the dealer where you bought your M from? Might be a good place to start, as well.

[Jhanksm3]

I do

[MyUnicorn]

I had this same issue when I traded my 335i for the M3. It took almost a month for the the remainder of the previous loan to be payed off by them. I did call the dealership and they assured me that everything was taken care of, but it took a while for it to show up on the BMW finance site. Sounds pretty normal. I had an excellent experience with the dealership - both on the purchase side and the trade in side. Things just moved slowly on the finance side. It also took a long time to get my tags, but when I called the tag department, they did have record of payment. Be patient and contact the dealer and the tag office. I am sure the dealership would like to keep you around as a customer.

[Jhanksm3]

Originally Posted by MyUnicorn

I had this same issue when I traded my 335i for the M3. It took almost a month for the the remainder of the previous loan to be payed off by them. I did call the dealership and they assured me that everything was taken care of, but it took a while for it to show up on the BMW finance site. Sounds pretty normal. I had an excellent experience with the dealership - both on the purchase side and the trade in side. Things just moved slowly on the finance side. It also took a long time to get my tags, but when I called the tag department, they did have record of payment. Be patient and contact the dealer and the tag office. I am sure the dealership would like to keep you around as a customer.

thanks bro I will try and be. The only thing is im 7 hrs away from the dealer, and cant just leave to go there to check on things.

[NashvegasR]

BMW dealer in Atlanta took 29 days to pay off the loan on my 2009 m3 when I traded it on my 2013 m3. I was annoyed. It worked out fine. I think if it goes over 30 days at least in Georgia, they can be fined or have issues w the dealership licensing groups.

[MyUnicorn]

Originally Posted by jhanksevo

thanks bro I will try and be. The only thing is im 7 hrs away from the dealer, and cant just leave to go there to check on things.

Same here. I bought the car out of state and had it shipped. Be persistent and be patient. Everything works out in the end. If it hasn't worked out yet, it isn't the end.

[Rat3d ///M]

lol @ contacting lawyer