Car Dealer not making Payoff

[sheaver]

I traded in my car for a new one and the dealer said he would pay off the existing balance on my old car loan. After he had not done it for a few weeks I was gettinh harrassed by the lending company and was forced to make the monthly payment or risk my credit being affected. After informing the dealer a few times he eventually made the pay-off,(however it was obviously less now that I had made a payment). Should the dealer reimburse me for the monthly payment or at least pay me back the difference in the payoff amount.

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by sheaver:
I traded in my car for a new one and the dealer said he would pay off the existing balance on my old car loan. After he had not done it for a few weeks I was gettinh harrassed by the lending company and was forced to make the monthly payment or risk my credit being affected. After informing the dealer a few times he eventually made the pay-off,(however it was obviously less now that I had made a payment). Should the dealer reimburse me for the monthly payment or at least pay me back the difference in the payoff amount.<HR></BLOCKQUOTE>

Yes because when you traded your old car in to buy the new one, the deal was that the dealer pay off the existing loan balance. The dealer most likely booked the value of the trade-in at less than Blue Book value. So don't get cheated again. By the way the dealer should be regulated by the State so use the State to protect you.