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What do I do?

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nycplayboy78
Regular Contributor

Re: What do I do?


@Anonymous wrote:
Well I sent the title off to USAA, but after all this cluster they sent it back to me. So the title is free and clear in my name at the moment. Seeing how long it's taken them this long to call me back I think they realize they are in the wrong. I didn't think they could Repo a car with me having the title. I'm going to see if I can reach out to a lawyer and figure out where do I stand legally at this point. I really like the car so I'd rather keep it but they aren't going to corner me either. if anybody knows a lawyer can they ask them where I stand legally?

YES!!! This is the BEST option for you. Seek legal cousel because you DON'T want any sort of REPO or JUDGEMENT on your credit file due to either a dealer error or bank error or their parts.


EX08 801 EQ08 812 TU08 805 Total Credit Line: $100K+
Message 11 of 14
jim44
Established Contributor

Re: What do I do?


@Anonymous wrote:

If you have the car, the title and I assume all the signed paperwork, then its their burden to carry not yours.  I would let nature take its course and see what happens.  They will have to push the loan through.  The dealer will have to recon the decision.  Again this has NOTHING to do with you.


Yes and no.  There are a few steps that should have taken place in this process.  1st when USAA never received the blank check from the dealer in a 30 day period, USAA should have sent you notice that credit was never extended to you.  USAA as lienholder SHOULD have been printed on your Bill of Sale from the dealer and the amount financed shown on the bill of sale that you stated you signed.

The dealer screwed up by presenting your title work to the local DMV without listing USAA as  lienholder, however they should have had you sign a "SPOT DELIVERY' notice stating that the dealership doesn't extend credit nor do they lend money and if your contract with USAA for any reason is rejected, you must return the car.

What is not understandable is how a dealership can deliver a car and not press USAA for immediate payment when the 30 days elapsed. NO contract is valid after 30 days if its not executed and the dealership knows this.  I mean the dealership should have been saying" OK, it's  been 30 days where is the funding from USAA for this car.

 In the end the dealership messed up but your intent was to enter into a contract to buy the car with funding from USAA. You must have "signed" a retail installment contract with USAA even if it wasn't executed by the dealer.  You should have known the loan failed if after 30 or 45 days you weren't contacted by USAA about setting up monthly payments. The dealer should be able to show that you never actually paid for the car.  Like other posters have stated, IMO I wouldn't wait for the dealer or the dealer's lawyer to come knocking at your door.  I would contact the dealer, USAA or another lender and work something out.  JMO.

Message 12 of 14
Anonymous
Not applicable

Re: What do I do?

Everything through USAA was electronic. I already use them for everything else as well as another car I own so they were supposed to just start charging me after everything processed. The same way it did with the other vehicle. I did not sign any kind of spot delivery notice nor did they put down USAA as the lien holder on the title. I will be reaching out to get some legal advice to see what am I legally obligated to do. I have already gotten an approval through capital one and the dealership is patterned with capital one.
Do you think I should try to go off the existing contract or start a new contract? The only issue im looking at now is the vehicle will be valued less than the initial purchase price due to the mileage I've accumulated plus the vehicle being slightly older.
Message 13 of 14
jkjklkjkl
Contributor

Re: What do I do?

I wouldn't press looking for a new car, I would sit back and wait for the dealership and USAA to figure it out. I would get a consultation with a lawyer, just to be in the know, but today may be your lucky day that ineptitude works in your favor. If you've done your part to facilitate both companies, then you've done your due diligence. I would continue to provide any information requested, though.
Message 14 of 14
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