I traded in my truck for a Ford Explorer. Did this on 12/31/14. I made $8500 on my truck. I put $2000 down and MT. P Chevrolet still owes me $6500 on my old truck. I was told it would take about 10-14 business days for them to cut me a check. I called the owner and spoke with him on the 12th of Jan. He told me I cannot get my check until they receive the title for my truck. I called the bank and they said the title was mailed that morning. I called the owner back and he said I should have the check in 8-9 more days. It is now day #10. They claim they still have not received the title and cannot issue the check to me until title shows up. Title was mailed on January 12th. Anyone know the legal side of this issue? I feel like I am being lied to. They should have had my title 4-5 days after it was mailed on Jan. 12th.
Sorry to hear about this. I bought my truck there and had a wonderful experience. Salesman was great and the manger was pleasant. They didn’t owe me money though. The dealership has to look out for their best interest; it’s not shocking that you are going through this.
I’d be looking at the Bank! Kind of convenient for them to say, Oh, we mailed that out this morning. Call them back in the morning and don’t say you have called about it before. See if they say that it was sent and what date!
Good idea Easy. It was BB&T bank that had my old truck financed. The dealership paid them off on the 12th. I called that afternoon and they told me the received the payoff and mailed it out that day. Maybe the bank is at fault here. The time line is what has me aggrevated. Do not tell me 10-14 days and now its double that. Bad business. I dont understand why I cannot get the money without them receiving the title. They called BB&T, got the payoff info and payed the truck off. BB&T is legit…Why force me to wait for them to get the title?
I have worked at a bank for 20 years.This is on the bank not the dealer.The dealer can’t pay you for a truck they don’t own yet.The contract with you does not complete the transfer of ownership.Legally the bank owns it more than you do.
This title stuff at BB&T is being done by a clerk who may make less than the waitress at Boulevard Diner.The only way to prevent this is to drive a paid for POS,which is smart because the title is at home in YOUR gunsafe.
Dear Cooper…I spent 15 years in the retail automobile business right here in Charleston. I would bet a dollar to a doughnut that the dealership is jacking you around. Dealerships are notorious for robbing Peter to pay Paul. They float money as a common practice. I couldn’t count the times that I had clients screaming at me because they couldn’t get their new license plates because the dealership sold their trade in to some deadbeat wholesaler without paying it off until the deadbeat wholesaler’s worthless check cleared. They will lie in your face and laugh about it. The back office operations are more Ponzi Schemes than legitimate businesses. They hold the cards CRM…get a lawyer and sue their butts off.
Wow, you can’t trust the Banks, and you can’t trust the Auto dealers! What is the world coming to? Next thing you know someone will tell us we can’t trust the Government:smiley:
Day 24.I have not heard anything. I called and emailed the owner. No responses. I am giving them until Monday to contact me. I will call my lawyer that day. Guess I should have never bought a Ford from a Chevy dealership:face_with_head_bandage:. I did go by there on wednesday and spoke with the sales manager. He said they still do not have the title. I asked to speak with the owner and he was not there. I am not sure what a lawyer could do for me. They probably take 2000 to get me my 6500. I have had friends tell me dealerships hold on to the $$$$ because they earn interest on it.
I guarantee that bb&t did not mail out the title on the 12th. They may have received the dealership check on the 12th, but all banks hold dealership checks for 10-15 days before mailing out the title. You need to check with bb&t. Threatening the dealership will get you absolutely no where. I have been in the car business for a long time, and not for the dealership you mentioned… As for bossdog’s comments, do not let that get you riled up. There may be dealerships that still operate that way, but if so, they won’t be around much longer. There are too many dealerships that do things the right that will put them out of business.
Dear Cooper…Think about it…why would the bank hold your title after receiving the payoff? Checks clear in nano seconds today. Why do think the dealership isn’t giving you your money? They’re floating it. Why? Because they can. They are the cheesiest of the cheesy in my opinion. BB&T is a bank and one of the most regulated enterprises in the entire spectrum of businesses. They aren’t going to jack somebody around over a used truck title. Car dealers cheat their own employees, ask any salesman whose worked in the business for 6 mos. Why do you think the turn over of employees is so ridiculously high at 90% of car dealerships? Honest dealerships are as rare as hen’s teeth. Consider this the cost of education. Never trade a car into a dealership…sell it yourself…for cash!
Speaking with personal experiences, but BB&T has dropped more balls than the Dallas Cowboys. They were the first bank I ever banked with, and by far the worst. Also bought a house through them nearly 2 decades later, and while the mortgage seems to be managed fine after closing, the entire mortgage application process was a debacle because they kept losing the information and documents I was sending them.
I would bet that BB&T has dropped the ball (not being sinister, but just being klutzes) on getting the title to the dealer.
You really won’t be able to find out much though, the bank will probably play stupid, and you don’t know either way if the dealership is yanking your crank or not. Talk to the finance manager at the dealership again and let him know firmly that you fully intend on using every avenue of social media to shout, very loudly, exercising your First Amendment right to let everyone under the sun know that you are in the process of being scammed for $6500 by Mt. P Chevrolet. Facebook, Twitter, Google reviews, BBB, Consumer Affairs.
… The Cross of Christ is the anvil upon which the hammer of evil wore itself out.
