How Long Does a Dealer Have to Pay Off a Trade-in in the State of Texas

[hosiewhite]

My question involves a consumer law issue in the State of: Texas

I traded in my vehicle to the dealership about two weeks ago. My payment for my trade in vehicle is coming up in about a week, and I don’t want to have to pay for a vehicle I no longer own. I was wondering by law, in the State of Texas how long does a dealership have to pay my trade in off. Thank you for your help.

[Mr. Knowitall]

Per Sec. 4 of the Motor Vehicle Dealer Manual,

If the lienholder has failed to issue a release of the lien to the dealer after payoff, the dealer should notify the enforcement division of the TxDMV of such non-compliance so the dealer will not be held responsible. Dealers now have 15 days to pay off a lien on a trade-in once they have the vehicle and proper paperwork to pay the lien.

[Ashley817]

Hi

Im really needing some help here. Me and my husband purchased a vehicle from a Acura dealorship, we had traded in my old car for the new car. Signed contract with new car loan and the payoff amount along with our new interest rate with new bank. We were suppose to get a call the next day to pick up copies of paper work, but never got a call. So the next Monday we called dealorship, they said we needed to come resign contract because bank didn't except (me) on loan as co signer. For no reason other than one score was not above 700 all others were. Problem being I was upset, it was my car and I was not gonna buy a new car without my name on contract too. I wanted to just go pick up my car and take my business else where. So we went in that day nearly a week later from sign date. I told them if my name can't be on it then I want my car back I'm happy to take my business else where. They then told me they had sold my vehicle that sat. Well then I was really upset because I felt stuck with any choices at this point. I told them I'm not signing new paper work we had signed a contract. They had never called me to let me know of any issues, then they sold my car! so now I can't just walk away! Im thinking need to fix this. Now it's been almost a month wellsfargo is calling me for a payment on my car I traded in which they sold 3 days after our deal. I pulled car fax and have proof. I don't want to ruin my credit. But why would I make a payment for a car in which I traded in and they sold right away? Also we called bank which is on the contract we signed and they have neither one of mine or my husbands information in their system . The dealorship called me 2 weeks ago and said they were able to add to the loan and no need to sign new paper work everything stayed the same. Now my issue is what are my rights? This has been really stressful, I really would just like my old car back and take my business else where. It's looking like now they haven't paid loan off and the new bank where our loan should be has no idea who we are in their system. Does this happen often? What should I do at this point to show I have done my part to not be at fault for anything?