Car Dealership Cheated Me Out of Trade

[ches1201]

I went to a car dealership to test drive a vehicle that I was interested in. After test driving, we discussed some issues that the vehicle had, and they said all the vehicle needed was an alignment and if I took it to the tire shop they would cover the charge. I ended up signing a form stating that I would trade my 07 Tahoe LS for $18,500.. for a 06 ford f150 for $29000. The Tahoe only had a remaining balance of $13,500. I ended up leaving the dealership in the truck , and they sold my tahoe that day , without me ever paying for the truck or them paying me for my tahoe. All of this occured on a friday. Since I had to make an appointment to get the vehicle aligned, the only day I could take it was the following Thursday, because I was busy throughout the week. I did not continue to drive the truck. I drove the truck to pick up another vehicle until I would have to take it to the tire shop. That thursday, I took it to get it aligned, and the tire shop informed me that even after the tires were rotated, balanced and aligned that it continued to pull all the way to the right. I took it to a few other places to get it looked at, and they all told me the same thing, that there were other mechanical issues. I told the dealership that I was no longer interested in keeping the truck. They then informed me that they had already sold my tahoe. Up to this point none of the paperwork with my bank had been completed. This happened all within a weeks time. The day I told them I was not interested in keeping the truck, they immediatly took a check and paid the balance on my tahoe which was only $13,500. Not the agreed upon price of $18,500, and my tahoe had already been sold. I was not aware of them only paying the balance until a month later when I finally found a vehicle to buy and my bank told me I did not have any money left over from the sale of my tahoe. I attempted contacting the dealership manager and also sent him messages to his phone but he has yet to respond. What can I do to resolve this matter? Should I sue them... They sold my vehicle without completing the sale, and without paying the balance on it.

 

[jharris352]

When you drove off the lot you took delivery of the vehicle and "completed" the sale. You have no grounds to renege on the sale now. The truck is yours. You bought it AS IS with whatever mechanical problems it may have. If I am reading your post right, they gave you $18,000 credit against the cost of the truck and you got that. You don't get the difference between the payoff and what they sold it for in your hand. When they sold the truck it belonged to them.

You can sue if you want but you will lose. They did nothing legally wrong. When you buy a vehicle you need to check it out before you buy it not after you leave with it. When the vehicle leaves the lot you have completed the sale and owe them the money.

 

[ches1201]

If the sale was completed.. the document i signed stated that they would pay $18500 for my tahoe.. they paid the balance $13500.. I also signed a warranty stating that the vehicle would be operable, however, the vehicle was not. there were many mechanical issues and the dealership could not fix those problems. I am not sure if your familiar with the car sales business.. but I am since I do own a repossession company and have my dealers license. And the dealership was very much aware that I had no intention to sale my 2007 Chevrolet Tahoe for $13500.. and they sold my vehicle before ever buying it from me.. I never even went to my bank and signed documents to buy the truck. The only thing that the contract says about me buying the truck is, "in good faith" I sign this document.

 

[army judge]

Looks like you aided and abetted in your own car being "repoed".

But, you're in the repo business so I'm sure you must know that there is no legal remedy available to you in this case.


This is just business, it wasn't personal.

You should have read everything, before signing anything!!

 

[ches1201]

My car wasn't repoed. They didn't pay me the full total agreed for my trade in......

the vehicle i traded mine for had mechanical issues that they agreed to fix.. and they now can't fix those issues... I was asking for advise on what to do to resolve the problem.. Hopefully I explained it better this time. Thanks

 

[FlaRiptide]

Ford F150 $29,000
Less trade-in ( 18,500)
Plus payoff of trade-in 13,500

Amount due from you $24,000

It is hard to imagine that the dealer would allow you to drive off the lot with a $29,000 vehicle without finalizing a sales contract and taking payment either in cash or loan.

Either way, like Army mentioned, the deal was done. It is also difficult to imagine that the dealer let you out of the "contract" by taking back the F150. They had consumated a deal and basically are the "damaged" party due to your desire to break the contract.

I also signed a warranty stating that the vehicle would be operable, however, the vehicle was not.

Your best approach would have been to keep the F150 and forced the dealer to live up to the warranty. Was it a full or limited warranty? Just because the dealer could not repair it is no excuse. Dependent on the warranty, they ultimately would have been responsible for repair or compensation.

From what I understood from your post, the dealer did you a favor by allowing you out of the sales agreement. You requested the cancellation of the contract and they accepted. This negated all your previously agreed upon parts of the sale.

There should have been new discussion between you and them regarding the financial situation of this change.

The dealer isn't necessarily in business to buy used cars, he gave you a TRADE-IN price. Since you reneged on the sale, they have no obligation to provide you with the TRADE-IN price. Without a sale, they are no longer willing to give TOP dollar trade-in.

I agree you got taken, yet it appears you may have shot yourself in the foot... so to speak...

 

[jharris352]

Not only am I an attorney, I own a Car dealership, so I'm a bit familiar with the trade. If you have a dealer's license then why on earth would you be buying from another dealer at retail? I could buy that same truck you bought for 6-10k. No one sold you a used truck with a "guarantee" that it was operable. Anyone writing a guarantee would not guarantee a truck was "operable." If you have a warranty it is from a warranty company and not the dealership. Your story has more holes in it than a sieve.

You don't want advice you want us to tell you what you want to hear.

 

[mightymoose]

It seems the OP was looking for a cash payout for the difference on the trade-in?
The difference was applied to the outstanding balance on the new vehicle.