Auto Refinance with a Frame Damage Announcement

[jamiii]

OK, so I bought a 2007 Dodge Ram about 3 years ago with a very high interest rate due to my credit.  I have since done a lot of work repairing my credit and was given the opportunity to refinance for half the interest rate without extending the lease with Wells Fargo.

But as I was on my way over to sign the paperwork, I got a call from WF telling me that due to a "Frame Damage Announcement" on the AutoCheck report they cannot refinance.  The announcement was listed by the auction house that sold the truck to the dealer that I ended up buying the truck from.  Dealer never told me about any frame damage.

So I have a couple of questions:

1. I do not believe this announcement is correct as I have had 2 other shops inspect the vehicle and can't find any damage so is there anyway to dispute/remove this entry?

2. Was the dealer obligated to disclose this information?  (I am in Texas)

3. If I am stuck with the entry, are there any banks that would work with this issue?  I am surprised CapOne financed the car to begin with.

Thanks,

(And yes, I realize I was stupid for not double checking ahead of time but the CarFax report was clean now and at the time of purchase.  Wasn't aware of AutoCheck back then.)

[Paperboy999]

Are you sure they ran the vin correctly? Maybe they messed up a letter or number.

[jamiii]

Yeah, they have the VIN correct.

[Robertwd82]

Was the truck lifted?  Sometimes even if there is no frame damage the auction house will list it on lifted trucks to cover theirselves in case it comes back.  

I think a credit union would be your best bet.  

[jamiii]

Couldn't get the AutoCheck file updated but I did get the dealership to agree to cut me a check for 10k, the remaining balance of the loan.

[sccredit]

Good resolution. 

[Anonymous]

I have the exact same problem. How did you get the dealership to pay?

[Anonymous]

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@jamiii wrote:

Couldn't get the AutoCheck file updated but I did get the dealership to agree to cut me a check for 10k, the remaining balance of the loan.

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Unless my math is really bad, that is the BEST refinancing plan I have ever heard of!

I realize the resale value of the truck has been reduced quite a bit, but it sounds like you were compensated for it.

It must be driving Ok since you have been doing Ok with it since you bought it so you can drive the wheels off of it.

Hope it works out Ok for you.

GL