Auto Loans Dealer hasn’t paid off my trade in

[Ramirez 33]

Jurisdiction

California

So i bought a used car and traded in my other car but i owed $15k and the dealer agreed to pay $12.5k and now the lien holder of the trade in car called me saying that my payment is late and they didn't hear anything from the dealer when i let them know about me trading it so now I don't know what to do

 

[adjusterjack]

You need to make your payments until the trade in pay off is resolved. You'll owe a balance anyway.

 

[army judge]

So i bought a used car and traded in my other car but i owed $15k and the dealer agreed to pay $12.5k and now the lien holder of the trade in car called me saying that my payment is late and they didn't hear anything from the dealer when i let them know about me trading it so now I don't know what to do

Find out how much you still owe.

More than likely the lender is seeking payments until the remaining $2500 has been paid in full.

 

[zddoodah]

I don't know what to do

Well...the rather obvious first thing to do is to call the dealer and inquire why the agreed payment wasn't made.

 

[txls]

Call the dealer. What doesn't make sense to me is who is expected to pay the balance? If you traded the vehicle to a dealer they should be paying off the entire balance or the bank will not release the title to them. You need some clarification from the dealer.