So I traded in my 09 TL to Lexus of Queens over two weeks ago and they still have not paid off Acura for the remaining balance on that vehicle. A payment was due last week on the account and now it is 7 day past due. Luckily I used to overpay every month, so only $100 is due which I will pay to avoid any late fees which I'm sure the dealership will not eat. I reached out to the finance guy who said that he will reach out to their headquarters in NJ to see what's going on. This was 3 days ago and i haven't heard anything back from him. I then tried reaching out to the sales manager, but he hasn't returned my call since yesterday, so I sent him an email and copied the finance guy along with the general manager of the dealership. Secondly, the dealership owes me about 7K from the equity I have in the TL and I still have not received a check from their 'headquarters'. The finance guy said it typically take about two weeks to process, but now we're approaching week #3. Anyone else have any experience with this dealership or with this type of situation?

Cheers!

 

I had a similar situation. When we bought the Explorer we traded the Accord in on the day the payment was due. Ford told me not to make the payment.

Honda kept calling me and asking me for Fords information, since I know longer owned the car. They kept saying well if we don't get the payment we will have to apply a late payment. I called my salesman but he wasn't at work for the day. So I went up there and they took care of everything, cut the check right there on the spot put it in a Fed-EX overnight envelope, and Honda had the payment in their office next day by 10 AM.

I ended up talking to a manager upstairs at Ford, a cousin of a good friend of mine and he said even if Honda tacked on a late fee, Ford would have to pay it because pretty much it was their fault. Even though I traded the car in on the day the payment was due.

Hopefully you can get this all squared away, screw calling, go up there in person. Face to face and see what's going on.

 

Whenever you do this you need to call your leinholder and inform of what you've done so they know to look for payment and that you won't be making any more personally.

 

I had a similar situation with Lexus of Alexandria. I traded in my TL Type S to them, I used part of the equity for fees for the new car. The difference was supposed to be sent to me. After about a month and half of calls back and forth, and them telling me the check was in the mail. I finally called corporate, 3 days later I had my check in had.

 

I would assume you have a "Bill of Sale" and copies of the title transfer. If so, the TL is no longer yours' This sounds like it's Lexus of Queens problem - not yours. I would still notify the lien-holder so they can go after the dealership for payment. The missing equity check, on the other hand, sounds more serious to me. You need to resolve this ASAP or get a lawyer.

 

You're in NY...should've bought your car from Shoofin.

 

The sales manager finally called me back today and said that the equity check and check for Acura were sent in the mail yesterday. Hopefully this is resolved very soon...fingers crossed.

 

Not sure how ny differs from ma, but in ma you would have signed an "authorization for payoff and reassignment of title" during the paperwork process. This is exactly what it sounds like, you are authorizing the dealer to pay off your old loan and the title be mailed to them.

If you have a piece of paperwork such as this in your pile of dealer documents, get a copy to the lien holder to show the dealer to be at fault.

 

I do business with that franchise. Trade in's have to go through their main HQ, and they take forever to do that paperwork. I've had similar delays in paperwork with them. Unfortunately nobody is playing any games with you, it makes no sense whatsoever, but it's normal for them. Don't be so concerned, but at the same time make sure they acknowledge the situation with the payment being due, and be sure you don't get penalized as a result.

 

That too

 

NY is the same. Question is, does he have a copy of that?

 

I'm going to go with "maybe".