@Charmante wrote:
@HeavenOhio So what do I do? And curiously, what are the options other than letting them pay it off? I didn't realize you could do it any other way?
So sorry to hear of this messy situation for you @Charmante. Ugghhh!!! 
I've traded in a lot of cars over the years and I would say that normally, with major dealerships that sell both new and used cars (like the one you are dealing with), you won't have a problem getting them to properly pay off your loan. I'd be more skeptical with a small used car-only dealership. Since you mentioned the name of the dealership, I looked them up. They have a horrible reputation online, so I guess the moral of the story is to try to check out a dealership you aren't familiar with.
I checked the Better Business Bureau for the greater Oklahoma City area, including the Midwest City location. Unfortunately, they are NOT BBB certified (go figure!!) They have a grade of "F" with a score of 1.24 stars out of 5 on 33 reviews. They've had 63 complaints in the last three years and 28 complaints in the past 12 months. Absolutely awful!!! See the reviews here.
Also see these links ... consumeraffairs.com YELP reviews Ripoff Report
That said, this could get even messier if they have a pattern of this sort of behavior. I would start with a face-to-face meeting with the Finance Manager and the dealership General Manager. Make them explain the numbers. If you can, bring a family member or knowledgeable friend who can help you to evaluate their explanations. You might consider recording the conversation also.
If you don't get a resolution, you may need to retain an attorney. You could also contact the Oklahoma Attorney General's office for a fraud report. (https://www.oag.ok.gov/.) If you've been defrauded, a police report is needed and could help with legal action.
I would also contact Chase about the payoff situation. No guarantees, but it's worth a conversation about the issues you're having.
To get more attention, you could also file a report on that BBB link, although it apparently hasn't made them change their practices yet. However, documentation for others could be helpful. Also, blowing up the business with social media might gain some attention. Local television stations sometimes love to highlight these kinds of stories with investigative reporting. They might get you resolution but also put pressure on the business to shape up.
As for what other options you had other than allowing them to take the car as a trade, the choices would have been to keep your old car until it is paid off or take money out of savings to pay off the loan and get a clear title before trading it. You could also sell the car outright to a third party. If you still have a lienholder, I would suggest you sell to a business who can cut you an immediate counter check. Selling a car with a lien to a private invididual would be more risky and complicated. Major national used car dealerships including CarMax and Carvana will buy a car without you buying theirs. Also, I've taken cars into multiple new car dealerships to get offers before I sold so that I could shop for the best trade-in offer. Many new car dealerships will also make an offer if they need used cars. The downside of selling a car separate from the new purchase is that you lose the sales tax (if any) savings you get from deducting the value of the trade-in from the purchase price.
Good luck with this dilemma and keep us informed about how it goes!
@Aim_High wrote:@Charmante wrote:
@HeavenOhio So what do I do? And curiously, what are the options other than letting them pay it off? I didn't realize you could do it any other way?
So sorry to hear of this messy situation for you @Charmante. Ugghhh!!!
I've traded in a lot of cars over the years and I would say that normally, with major dealerships that sell both new and used cars (like the one you are dealing with), you won't have a problem getting them to properly pay off your loan. I'd be more skeptical with a small used car-only dealership. Since you mentioned the name of the dealership, I looked them up. They have a horrible reputation online, so I guess the moral of the story is to try to check out a dealership you aren't familiar with .
I checked the Better Business Bureau for the greater Oklahoma City area, including the Midwest City location. Unfortunately, they are NOT BBB certified (go figure!!) They have a grade of "F" with a score of 1.24 stars out of 5 on 33 reviews. They've had 63 complaints in the last three years and 28 complaints in the past 12 months. Absolutely awful!!! See the reviews here.
Also see these links ... consumeraffairs.com YELP reviews Ripoff Report
That said, this could get even messier if they have a pattern of this sort of behavior. I would start with a face-to-face meeting with the Finance Manager and the dealership General Manager. Make them explain the numbers. If you can, bring a family member or knowledgeable friend who can help you to evaluate their explanations. You might consider recording the conversation also.
If you don't get a resolution, you may need to retain an attorney. You could also contact the Oklahoma Attorney General's office for a fraud report. (https://www.oag.ok.gov/.) If you've been defrauded, a police report is needed and could help with legal action.
I would also contact Chase about the payoff situation. No guarantees, but it's worth a conversation about the issues you're having.
To get more attention, you could also file a report on that BBB link, although it apparently hasn't made them change their practices yet. However, documentation for others could be helpful. Also, blowing up the business with social media might gain some attention. Local television stations sometimes love to highlight these kinds of stories with investigative reporting. They might get you resolution but also put pressure on the business to shape up.
As for what other options you had other than allowing them to take the car as a trade, the choices would have been to keep your old car until it is paid off or take money out of savings to pay off the loan and get a clear title before trading it. You could also sell the car outright to a third party. If you still have a lienholder, I would suggest you sell to a business who can cut you an immediate counter check. Selling a car with a lien to a private invididual would be more risky and complicated. Major national used car dealerships including CarMax and Carvana will buy a car without you buying theirs. Also, I've taken cars into multiple new car dealerships to get offers before I sold so that I could shop for the best trade-in offer. Many new car dealerships will also make an offer if they need used cars. The downside of selling a car separate from the new purchase is that you lose the sales tax (if any) savings you get from deducting the value of the trade-in from the purchase price.
Good luck with this dilemma and keep us informed about how it goes!
I followed some of the links you provided. This really confused me. Back during the Chrysler bankruptcy they got rid of all dealers who did not have a nearly perfect customer rating. This dealer no matter where you look has a rating so low that I did not even think was possible.
How on earth did this happen? Really good dealerships where closed down and this one survived? I am totally confused over this one
Thanks
Mark
By the way, @Charmante ... document, document, document. I hope you've saved all the auto contracts and anything in writing (or email) from the dealership. Record-keeping and getting things in writing that they promise will be very helpful. I would also keep any text messages and voice mails if there are any.
I agree that I wouldn't file a police report yet until you clarify that you were indeed defrauded. But taking your trade-in with an agreement to pay it off, and then not doing so promptly becomes fraud and theft. That's on top of whether they had any right to renegotiate the contract with you after the sale to raise your fees. Be careful of what you sign!
First step would be to try to meet with them and get some resolution before you get an attorney or the police involved. BBB and social media reviews can wait until you see how they respond to your initial conversations.
