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  1. #1
    shergribbs is offline Junior Member
    Join Date
    May 2008
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    Dealership Got WRONG Payoff amount for my lease

    Hi I'm in Arizona and need some legal advice. I recently turned in my lease early and brought a new car. I still owed 10,000 on the car and about 3,000 of that was negative equity. The puruchase price on the car was 29,000. Minus 10,000 dealer special and the they game me 7,000 for my car which they took of the purchase price, bringing the total 12,000, then they added in the 3000 now bringing it 15,000. We signed the deal I left with the car end of story.
    Almost 3 weeks later I get a call from the guy in the finance department telling me that they got the wrong payoff amount and that I need to sign new papers bumping my payment up $100 a month or need to bring the car back.
    What happened is they did not call GMAC on the lease for the payoff they went off the credit report and the amount on the credit report was only the 3,000 of negative equity and insted of putting the 7,000 towards the payoff they credited me for it.
    My mother and I (she co-signed) are recieving 3-5 phone calls from the dealship a day. We have a call in to her lawyer, but he is out of town. I do not believe that I can be held accountable but am not sure. Please HELP!
  2. #2
    milspecgirl is offline Senior Member
    Join Date
    Mar 2007
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    1,593
    the key is in your contract- the dealership agreed to pay $x towards paying off your car. you are liable for anything over that.

    chances are the dealership will end up eating it to save face and avoid a stink. they need their title and couldn't get it without paying it off completely

    however, had they gotten the payoff correct in the beginning, your pymt would have been higher, so either way you would have had the payoff.

    Normally people would agree to split the payoff difference

    i mean, you did owe it. they made an honest mistake.
  3. #3
    Texas Pooh is offline Member
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    Mar 2008
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    Texas
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    656
    You obviously knew that you owed much more on the car - what did you think would happen?
  4. #4
    JustAPal00 is offline Senior Member
    Join Date
    Jul 2007
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    1,864
    Quote Originally Posted by milspecgirl View Post
    the key is in your contract- the dealership agreed to pay $x towards paying off your car. you are liable for anything over that.

    chances are the dealership will end up eating it to save face and avoid a stink. they need their title and couldn't get it without paying it off completely

    however, had they gotten the payoff correct in the beginning, your pymt would have been higher, so either way you would have had the payoff.

    Normally people would agree to split the payoff difference

    i mean, you did owe it. they made an honest mistake.
    What??? No way. The dealer will not eat it to save face. It's like any other debt, the dealer will go after it and ruin your credit if need be.

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