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Auto loan payoff, does late $=no title?

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divona2000

Senior Member
What is the name of your state? MI

I have a Chrysler vehicle loan with payoff amount of $846.64 (valid until 06/20/2008). Part of that is June's payment, I was told by a Chrys. rep. the rest is interest. The loan due date was June 6, 2008.

On June 7, 2008 I again spoke with a rep, who told me that if I did not pay off the full amount due within 30 days of the loan's due date, that Chrysler would NOT 'repo' the auto, but WOULD 'write off' the debt, and would NOT give me a clear title. I can make June's payment, but am struggling to come up with the additional $446+/-.

It seems likely I will not have this additional amount ($446+/-) until July 19, 2008, my next payday. I will try the evil check-cashing place if I must...however...

---If I cannot payoff this loan by July 5th, can Chrysler legally refuse to accept any further monies after that date, and write off my truck, and refuse to send me the title?---

I have written to Chrysler about this, and am awaiting their reply, but wanted to get your opinion(s) also. I am not eligible for a loan extension/due date change.
 


divona2000

Senior Member
Short update...

I spoke with a different rep. on June 14, who said his supervisor stated that legally, Chrysler must give me the title, but could not confirm whether Chrysler would/could accept the interest payoff after the 30 days is over. He did urge me to stay away from the 'check-cashing' places (we all know they are bad :eek: ), and further said that if I made arrangements for the final amount due to be paid on the 30th day (I pay on-line direct debit from checking) that Chrysler would give it a few extra days to clear.
Chrysler did acknowledge receiving my electronic letter, I am still waiting for a reply on that.
 

divona2000

Senior Member
latest update...

I finally got a written (on-line letter) answer from Chrysler, said to call the 800 number and have them note my payment intentions. Sounds good, right? Wrong.

When I called, the 2 Supervisors I spoke with both claimed:
1. The previous reps I spoke to, and the letters received from Chrysler, were "misinformed" and wrong.

2. The payoff quote I was given, in writing, good until 6-20-08, is incorrect, because I was assess a $60 late fee on 6-17, so the payoff as of today (6-19) is now $889.34

3. I do NOT have 30 days from the payoff date to make the final payment.

4. Chrysler does NOT have to accept a late payment/Chrysler might accept late payment, but by then they would have repo'ed/written it off anyway.

5. Chrysler does NOT have to give me the title if I pay the loan off 'late'.

6. They will NOT accept on-line payoff, it must be done by phone-pay...a $9.99 fee.

7. I cannot speak with their Supervisor, as he "does not accept calls".

8. The payoff of $889.34 is good until 6-29-08, I must pay it TODAY, or it is at Chrysler's discretion to:
A. Write off the debt and pursue it in collections.
B. Repo the truck at any time.

The 4 people I have spoken with, and the Chrysler Financial Customer Assistance Center, have given me conflicting info in the past 12 days ...now I don't know who to believe.
Guess I am heading for the evil check-cashing place after all, but since the payoff changes depending on who I speak with, now I am not even sure what I owe. I am 13 days late with the final payment, and they could take my truck anytime.

Does anyone have legal information on what Chrysler can and cannot do per this loan payoff?
 

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