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Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan

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  • 09-22-2014, 03:16 PM
    InJ3cted
    Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    My question involves a consumer law issue in the State of: Nevada

    Looking for some consultation regarding a CPO Vehicle. We traded in our original vehicle (which the dealer has since sold) for a CPO vehicle. We are in possession of this new vehicle as of the sales date of 8/1.

    I’ve called in repeatedly over the last 1.5 months about new car payments/expiring temp tags and noticed our other vehicle loan was not paid off yet. The dealer gave me the run around saying the bank is dragging their feet and to go ahead and register the car and dealer would reimburse late fees (still haven’t)

    dealer reported that the paperwork was “lost in transit” which seems a little suspicious to me, especially in the digital age (9/17) request that we sign new paperwork.

    We have all copies of the original sales contract . The “new” vehicle has been registered with clark county and we have insured it. The old vehicle has been sold by the dealership but we remain the owners with lien holders. We have taken off comprehensive insurance off the old vehicle and are now getting letters from the CU that we must put full coverage on or else they will tack on forced CPI

    The dealer wants us to resign paperwork on 9/24 and offered to remove the first months car payment off the sales price. I don’t believe that is good enough and/or they are trying to scam


    Options I see:

    1) Renegotiate the sale price reflecting private party values and private party trade in value
    a. Plus remove originally purchased the service plan warranty and additional warranty for tires, windshield etc (which Ive tried to use the tire warranty last month was a nightmare and they kept the car for 2 weeks, but eventually replaced the tires on their dime)

    b. Pay any and all fees associated with this lost contract (CU fees, registration fees, late fees etc)


    2) Return the car and demand return of our original vehicle (since we are the lien holders, but since they’ve already sold it not sure how that works)
    c. Its been near 2 months and they have not satisfied the loan and claim they still have the power of attorney (is this true or can I revoke?) if I want my car back
    d. they mentioned that they would only give us the agreed upon value ( i dont think thats fair, since we get screwed on the value of the car)
    e. they failed at this http://www.dmvnv.com/regdealer.htm and I can file a complaint
  • 09-22-2014, 03:28 PM
    Disagreeable
    Re: Dealer Lost Top Copy of Paperwork , Sold Trade-in Without Paying Off Loan
    ROFLMAO. So you plan on filing a complaint that an accident happened and paperwork was lost but you refuse to assist in solving the problem unless you obtain unjust enrichment? Seriously dude, take your copy of the contract in and let them fix the issue. If they need to obtain a new contract, obtain a notarized statement that this is replacing the original contract number XXXX dated EE/EE/EEEE as it was lost in transit. Make sure the loan company is in the loop and agrees. The dealer should pay the extra loan payoff fee. Have them adjust the new written contract to reflect the new payoff amount with the same deal.
  • 09-22-2014, 03:49 PM
    InJ3cted
    Re: Dealer Lost Top Copy of Paperwork , Sold Trade-in Without Paying Off Loan
    I dont think its unjust to request near private party values for the vehicle since its been a near 2 month ordeal with this dealer. If I wanted to deal with all this hassle I would have gone private party. Im not asking for a brand new car or some ridiculous "enrichment" They didnt even report the paper work "lost" until nearly 50 days after purchase and this was AFTER several reported concerns and physical visits for other service related issues that I had to do myself.

    Thanks for your suggestions on the notary statement, i'll remember to do that. Im letting them remedy the situation but if they dont pay any fees associated with their mishap I will file a complaint with the DMV, which i think is fair given the duration of this incident.
  • 09-22-2014, 03:51 PM
    Mr. Knowitall
    Re: Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    Quote:

    Quoting InJ3cted
    View Post
    dealer reported that the paperwork was “lost in transit”....

    What paperwork?
    Quote:

    Quoting InJ3cted
    The dealer wants us to resign paperwork on 9/24....

    Again, what paperwork?

    If they are asking you to sign a contract for sale that is exactly the same as the one you previously signed, as confirmed by the copy in your hands, because they lost a copy with the original signature, and are offering you a free car payment and to cover any late fees on your trade-in in exchange, that seems like a pretty good deal.

    If you choose to sit on your hands or make absurd demands, the net result will be that this will not be cleared up and your problems with the lender on your trade-in will compound, severely affecting your credit.
    Quote:

    Quoting InJ3cted
    [They] claim they still have the power of attorney (is this true or can I revoke?) if I want my car back

    Is that statement meant to indicate they are willing to rescind the entire transaction and get the trade-in for you if you choose not to sign whatever paperwork they are asking you to sign? If you don't like the deal they are offering that allows you to keep the car, it would make sense for you to consider the deal they are offering that would allow them to return it.
    Quote:

    Quoting InJ3cted
    they mentioned that they would only give us the agreed upon value ( i dont think thats fair, since we get screwed on the value of the car)

    You negotiated and agreed to the price. They don't have to budge, merely because you have decided that you could have done better.
    Quote:

    Quoting InJ3cted
    View Post
    Thanks for your suggestions on the notary statement, i'll remember to do that.

    All a notary does is confirm that the people signing the contract are in fact who they represent themselves to be. If the intent is to void the original paperwork and replace it with new paperwork, that should be obvious from the document you sign. If for some reason you believe you need an additional document stating that the new contract replaces the old, there would be no need for it to be notarized, nor would it somehow become more legally significant if notarized.
  • 09-22-2014, 04:11 PM
    InJ3cted
    Re: Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    They lost the Top copy of the entire sales agreement and financial loan application. So they also lost all my personal information including SSN.

    Yes they did offer to cut me a check for the trade in value of the car. Obviously I want the car but told them I wanted near private party value to make up for the this hassle. Its up to them to either decline or work with me. I understand that they can choose to do whatever they want. I just want to know where I stand with regards to my trade-in, since according the DMV they cannot sell my car until they have satisfied my lien on the old one.
  • 09-22-2014, 04:16 PM
    Mr. Knowitall
    Re: Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    The hold-up here appears to be that without the signed originals the bank isn't going to pay them the money you borrowed to finance your car, and until that happens they're not going to pay off the trade-in.

    If the dealership is giving you the opportunity to rescind, you can take advantage of that opportunity, return the vehicle you purchased and get your trade-in back.

    The dealership has attempted to sweeten the deal, by offering you a free car payment and covering any late fees if you sign the replacement contract and loan application. If you choose instead to sit on your hands, or continue to make demands that they will not find acceptable, you may find that they lose their interest in giving you even that much.
  • 09-22-2014, 04:27 PM
    InJ3cted
    Re: Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    Thank you for response Mr. Knowitall. I wont get my trade in back but just agreed upon value. Which maybe I am thinking about this incorrectly, but if they were supposed to wait until the current transaction is finalized and the lien holder paid off before selling my trade-in, I could have had an opportunity to get my trade-in back in its entirety and choose to sell it for private party or trade it in at another dealership.

    However due to non compliance I have lost that opportunity in this particular situation because they have already sold the vehicle.

    http://www.dmvnv.com/regdealer.htm

    If you are trading in a vehicle or selling one to a Nevada dealer, the dealer is required to satisfy any loan or lien within 30 days. Other states have similar laws but be sure to ask an out-of-state dealer when the lien will be satisfied. The dealer may have you sign a Power of Attorney or similar document if you do not have the title.

    Nevada dealers are required to keep your trade-in until the financing on your new vehicle is finalized (up to 15 days). They must return your trade-in if they offer you different financing terms and you decline to accept the new contract.
  • 09-22-2014, 04:34 PM
    Mr. Knowitall
    Re: Dealer Lost Top Copy of Paperwork, Sold Trade-in Without Paying Off Loan
    If they can't convey title, eventually the "buyer" of the car is going to come back to them for recourse.
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