Dealership failed to cash loan check

[2nam12]

Jurisdiction

Nevada

Hello. I purchased a used truck with a loan from my credit union. According to my credit union, the dealership failed to endorse the check properly 3 times and the check is now expired (60 days old). The dealership has not contacted me about the check at all during this time. I only found out because my credit union sent me a letter saying they received the title, but had no loan attached to it.
My credit union says I will need to reapply for the loan to get a new check generated to try again. My bank will have to reverify my credit-worthiness. They said this will ding my credit again, possibly change my initial rates. I don't think I should be potentially penalized because the dealership couldn't endorse a check correctly.

Thank you.

 

[adjusterjack]

I don't think I should be potentially penalized because the dealership couldn't endorse a check correctly.

I don't think so either. But you probably will be.

The deck is stacked against you.

I can't imagine that there is anything you'll be able to do about unless you just want to refuse to reapply and let the dealer take back the truck, which will be a repo and do worse damage to your credit than a single credit report.

 

[txls]

There is nothing you can do about the potential "ding" on your credit rate, which should be minimal. However, if your interest rate goes up the dealership should pay the difference. Go ahead and re-apply and find out. The rates may not go up. Hey you could get lucky and the rates go down. Or you could refuse to reapply and give them the truck back, and they may not report it as a repo. Obviously you can't just keep a vehicle that isn't paid for so you need to get it resolved ASAP.