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I had a car and a loan with Honda Finance. I traded in the car for something else and the dealership was sending a check to Honda for the payoff. My statement date was 2 days ago. Am I going to have to wait all the way til my next statement cycle for the payoff to show on my credit? The check should be arriving any day now.
@samy2576 wrote:I had a car and a loan with Honda Finance. I traded in the car for something else and the dealership was sending a check to Honda for the payoff. My statement date was 2 days ago. Am I going to have to wait all the way til my next statement cycle for the payoff to show on my credit? The check should be arriving any day now.
Call customer service.
@samy2576 wrote:I had a car and a loan with Honda Finance. I traded in the car for something else and the dealership was sending a check to Honda for the payoff. My statement date was 2 days ago. Am I going to have to wait all the way til my next statement cycle for the payoff to show on my credit? The check should be arriving any day now.
Even with them paying off the loan, it likely won't be reported as paid off until the next statement cycle.
When I paid my Honda loan off, it took about 45 days for it to report paid and closed.
I decided to call the number on their customer service page. I told them I was trying to buy a house and needed to show my new, lower, DTI ratio.
He said no problem, they would inform the cb's and hopefully they would respond and update within 48 hours. He also offered to send me an official payoff letter to show my lender and that it should be here in 3 days! Very helpful!
@samy2576 wrote:I decided to call the number on their customer service page. I told them I was trying to buy a house and needed to show my new, lower, DTI ratio.
He said no problem, they would inform the cb's and hopefully they would respond and update within 48 hours. He also offered to send me an official payoff letter to show my lender and that it should be here in 3 days! Very helpful!
That's awesome. Great customer service for sure. Congrats and good luck.