Dealer Hasn’t Paid Lien
Hoping for a little help/insight on this. Thank you in advance!
I recently traded in a vehicle with a small amount owing on the loan (less than $6,000). Obviously, the deal required that the dealer pay off the remaining amount. The car was purchased nearly three weeks ago, and the vehicle still has not been paid off. In that time, I have had one payment taken from my account (for the traded in vehicle) and will have a second one taken tomorrow. I will be reimbursed for these payments by the finance company, but it is still frustrating that this is occurring. I’m told by the dealership that a cheque was mailed 13 days ago, but the finance company tells me nothing has been received. What should I do? |
Contact big Ken?
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Lien
I just purchased a new used vehicle to me a few months ago... it took appx 45 days to get the lien taken off the vehicle from CIBC auto finance, I can't believe it took that long
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Cheque is in the mail. Second most common lie ever told
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Make sure your agreement included wording that it comes lien free. Then ask for proof the lien has been removed. May be a timing issue between paying off the lien and the system being updated.
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I’m sure there’s no “cheque in the mail” it’s all bank drafts now and just needs a few key strokes and it’s done.
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Guy I was buying a truck from was late, killing time I figured getting a "Lien check" on a 25k rig might be a good idea and it had a lien on it. He'd paid it, his greedy penny pinching bank had messed it all up.
Long story short it took less than 2hrs on a Friday afternoon to clear it and have it show at motor vehicles registrars. Creeky.... -------------------------------------------------------------------------------------------- |
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k |
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If they aren't AMVIC, call them anyhow and talk to them. No point in pulling out the guns till you at least know the whole story. Even after the lender has been paid, and issued the release, getting the release registered can take time, depending on whether that government department is behind a little, a lot, or WAY behind, like they often are. |
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Thank you, everyone, for the responses.
The lien ended up getting paid off. The dealer sent a cheque (yes, a cheque!) and it was finally received by the financing company. |
Just sold my Cummins Diesel for cash$$ and bought my replacement Ford 250 for cash. Cash is King and deals go through in a matter of minutes.
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Most of them still insist on FAXED in paperwork. I wouldn’t have believed that until I experienced… they are so archaic and behind. |
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