Bought new car/traded in old car now I have 2 car payments

[littlebojeep]

Ok, bought new car from dealership, traded in old one that wasn't fully paid for, dealership promised that they would pay it off in exchange for me getting the new vehicle. Unfortunately last month I received my bill for my new car and a bill for my old one, Now I'm stuck paying for 2 cars. To make matters worst the dealership "suprisingly" went out of business and theres no way to get my old car back. This "wonderful" dealership was also just recently featured on my local news for using "questionable business practices". I'm not sure what to do now. Since there's no way that I can locate car or business people. Any suggestions, or advice would be greatly appreciated.

 

[Michael Wechsler]

I know it's little consolation in agreeing to purchase a new car before you had the payoff for the old one. Hindsight is 20/20. I'm sure you're not the only one who was scammed. How did you find out about the business failing? There must be people associated with the prior business and a name of an incorporator on file somewhere. It will involve doing serious homework and there is no easy way out of this. What have you done so far?