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Posted: 9/7/2010 1:40:33 PM EDT
So I sold my car. To an out of state buyer. They are doing it threw a Ford dealer. I have a loan on the car threw ford credit. I signed all the paper work for the ford dealer to take over the loan. They got it last week. I got a call from the shipper today asking if they could come and pick up the car tomorrow. I told them no, ford credit said that my loan wasn't paid off.

So then I get a call from the ford dealer, asking why in the hell I said the car couldn't be picked up. I told them the loan in my name hadn't been paid off, and they couldn't pick it up till my loan was paid off. He said that I got the pay off balance check(which I did) so I need to tell the shipper they can come and pick it up. The pay off balance check was the difference between the amount I sold the car for, and the amount I owed on the car.

So am I crazy for telling them I won't let the shipper pick it up till I can tell the loan in my name has been paid off? What am I missing here? Seems pretty easy to me, if I still have a loan in my name for the car, the car still belongs to me. Once my loan is paid off, then it can get picked up by the shipper.
Link Posted: 9/7/2010 1:41:40 PM EDT
You should have paid the car off first,

PERIOD.
Link Posted: 9/7/2010 1:43:38 PM EDT
What happened to the check?
Link Posted: 9/7/2010 1:46:34 PM EDT
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.
Link Posted: 9/7/2010 1:47:18 PM EDT
Link Posted: 9/7/2010 1:48:35 PM EDT
[Last Edit: 9/7/2010 1:49:08 PM EDT by SaintMichaelArms]
It would have been easier to just take all the payment yourself and then put it towards the loan, but you are still in the right.

Don't ship until you are liability free.

I would suspect this is the dealer's fault, not the buyers, but who knows.
Link Posted: 9/7/2010 1:49:29 PM EDT
Originally Posted By Nerf:
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.

It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.

Tag for details, gotta be either this or the other thing.
Link Posted: 9/7/2010 1:49:51 PM EDT
[Last Edit: 9/7/2010 1:51:03 PM EDT by fiver]
If you received a check to pay off the car, mail it in to the lender and ship the car.

Oh I see now.
Link Posted: 9/7/2010 1:51:55 PM EDT
I had something similar happen
turned in a lease that was over mileage
traded on a new truck rolled the overmileage charge into the loan
month later GMAC sends me a bill

call the dealer and the salesman was rude as fuck ( I was very nice about the whole thing used to be in sales I knew this wasn't his fault)

finally got to finance guy they pulled my contract and yep the check to GMAC was still paper clipped to it or so he claimed

week later i called GMAC to make sure everything was kosher
Link Posted: 9/7/2010 1:54:50 PM EDT
So they'll gladly pay you Thursday for a hamburger today?


No thanks!

What happens if that car falls off the transport or some other damage that causes a dispute?

No thanks!!!

Link Posted: 9/7/2010 1:57:34 PM EDT
Tell them to fax you a pay off sheet from Ford Credit showing zero as the balance owed.
Link Posted: 9/7/2010 2:04:12 PM EDT
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


They are paying the car off. Ford dealer, paying ford credit, to buy car for one of their customers. So why send me a check to then wait for me to send a check to ford credit. Save a step, they just pay ford credit directly.
Link Posted: 9/7/2010 2:04:46 PM EDT
Originally Posted By Him:
What happened to the check?


They only sent me a check for the balance above and beyond what I owed.
Link Posted: 9/7/2010 2:05:50 PM EDT
Originally Posted By Nerf:
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.


Correct. I have the check for the left over amount, the ford dealer hasn't paid off(or at least it hasn't cleared yet) my loan. So I tell them that the car is still in my name, so I won't ship it yet.
Link Posted: 9/7/2010 2:06:15 PM EDT
Link Posted: 9/7/2010 2:08:52 PM EDT
Originally Posted By SaintMichaelArms:
It would have been easier to just take all the payment yourself and then put it towards the loan, but you are still in the right.

Don't ship until you are liability free.

I would suspect this is the dealer's fault, not the buyers, but who knows.


I told them they could just send the payment to me, and I'd take care of it. Their buyer is getting a loan threw ford credit, so they said that them paying off my loan with his new loan would make more sense. Which sounded fine to me. I'm just stuck on the liability of me still having a loan in my name. I don't think I'm in the wrong, but I just wanted to be sure I wasn't out of wack here.
Link Posted: 9/7/2010 2:09:16 PM EDT

Originally Posted By damcv62:
Originally Posted By Nerf:
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.


Correct. I have the check for the left over amount, the ford dealer hasn't paid off(or at least it hasn't cleared yet) my loan. So I tell them that the car is still in my name, so I won't ship it yet.

So you want them to pay off your car loan while it's still in your name and possession? I need to look for the thread the dealer started.

You've got a bit of a Mexican stand-off here. On the upside, it's not a Western Union deal through Craigslist.
Link Posted: 9/7/2010 2:20:16 PM EDT

Originally Posted By damcv62:
Originally Posted By SaintMichaelArms:
It would have been easier to just take all the payment yourself and then put it towards the loan, but you are still in the right.

Don't ship until you are liability free.

I would suspect this is the dealer's fault, not the buyers, but who knows.


I told them they could just send the payment to me, and I'd take care of it. Their buyer is getting a loan threw ford credit, so they said that them paying off my loan with his new loan would make more sense. Which sounded fine to me. I'm just stuck on the liability of me still having a loan in my name. I don't think I'm in the wrong, but I just wanted to be sure I wasn't out of wack here.

There you go again
Link Posted: 9/7/2010 2:32:42 PM EDT
I don't blame you one bit. We had a large dealership playing games with that money.

They were quite slow and often not ever paying off the balance on trade ins per contracts. The poor persons who traded in the car were harassed and sued.
Link Posted: 9/7/2010 2:39:26 PM EDT
Let em have it. They'll clear it up. As long as you have a loan the title is not going to be clear for them to transfer it to the new guy.
Link Posted: 9/7/2010 2:39:58 PM EDT

Originally Posted By NoStockBikes:

Originally Posted By damcv62:
Originally Posted By Nerf:
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.


Correct. I have the check for the left over amount, the ford dealer hasn't paid off(or at least it hasn't cleared yet) my loan. So I tell them that the car is still in my name, so I won't ship it yet.

So you want them to pay off your car loan while it's still in your name and possession? I need to look for the thread the dealer started.

You've got a bit of a Mexican stand-off here. On the upside, it's not a Western Union deal through Craigslist.

The other option is they send him ALL the money and he pays off the loan.

I don't see the problem being him...
Link Posted: 9/7/2010 6:27:49 PM EDT
Originally Posted By NoStockBikes:

Originally Posted By damcv62:
Originally Posted By Nerf:
Originally Posted By GiggleSmith:
You should have paid the car off first,

PERIOD.


It sounds like it was their responsibility to pay it off - the check they sent him was for the amount over the balance due. E.G. he owed 6k, they paid 10k, so they sent him a check for 4k, and it was their responsibility to apply the other 6k to the balance of the loan to pay it off. They have not paid off the loan yet, so as of today he still owes $6k on the vehicle, even though it sold for 10k and they only gave him 4k of that.


Correct. I have the check for the left over amount, the ford dealer hasn't paid off(or at least it hasn't cleared yet) my loan. So I tell them that the car is still in my name, so I won't ship it yet.

So you want them to pay off your car loan while it's still in your name and possession? I need to look for the thread the dealer started.

You've got a bit of a Mexican stand-off here. On the upside, it's not a Western Union deal through Craigslist.


Well, if you went down to a dealer ship and traded in a car, would you not expect them to pay it off before you left the lot? Shouldn't change just because their buyer is on the other side of the country.
Link Posted: 9/7/2010 6:28:16 PM EDT
Originally Posted By fiver:

Originally Posted By damcv62:
Originally Posted By SaintMichaelArms:
It would have been easier to just take all the payment yourself and then put it towards the loan, but you are still in the right.

Don't ship until you are liability free.

I would suspect this is the dealer's fault, not the buyers, but who knows.


I told them they could just send the payment to me, and I'd take care of it. Their buyer is getting a loan threw ford credit, so they said that them paying off my loan with his new loan would make more sense. Which sounded fine to me. I'm just stuck on the liability of me still having a loan in my name. I don't think I'm in the wrong, but I just wanted to be sure I wasn't out of wack here.

There you go again


So sue me.
Link Posted: 9/7/2010 6:32:47 PM EDT
Update

So I talked to the dealer again. He seemed to think I would be ok with them paying it off when the car got to them in Cali. He said he would have it paid off in the morning, and I could call and check on that then. So much for that.
Link Posted: 9/7/2010 6:40:58 PM EDT
That should have been a non issue. They can pay FMCC directly thru the settled contracts accounts for both transactions. Simple computer transaction detail that some sales guy forgot to give to their bookkeepers.
I would wait to get the release from FMCC. Much easier way to be sure since the dealer is so far away. Measure twice, cut once, be done.

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