What is the name of your state (only U.S. law)? South Carolina
A friend of mine traded his car in for a different car in Mid-October. He assumed that when he drove off that the old car would be paid off right away. He was wrong-- it has taken over 4 weeks to be paid off. In the meantime, he had payment for the old car deducted from his checking account (he has auto deduct) and because he wasn't expecting this incurred some overdraft fees. He has also incurred additional finance charges and had to pay for insurance on a car that he didn't even have in his possession.
When should this dealer have paid the car off?
A friend of mine traded his car in for a different car in Mid-October. He assumed that when he drove off that the old car would be paid off right away. He was wrong-- it has taken over 4 weeks to be paid off. In the meantime, he had payment for the old car deducted from his checking account (he has auto deduct) and because he wasn't expecting this incurred some overdraft fees. He has also incurred additional finance charges and had to pay for insurance on a car that he didn't even have in his possession.
When should this dealer have paid the car off?