I'm actually surprised the dealership took in an underwater trade-in on a cash deal. That makes absolutely zero sense for a dealer to do anything like that. Only time they'd do that is to roll that money on a new loan to make more money.
I'm actually surprised the dealership took in an underwater trade-in on a cash deal. That makes absolutely zero sense for a dealer to do anything like that. Only time they'd do that is to roll that money on a new loan to make more money.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
This quote is hidden because you are ignoring this member. Show QuoteBut to me it makes sense to still subtract that as the trade in? i wouldn't know any better that it was a fuck up. the bill of sale makes complete sense when i look at it.This quote is hidden because you are ignoring this member. Show Quote
It does make sense to subtract it BUT the full value of the lien should've been inputted into the bill of sale too. Totally bad math and someone probably should've caught it.This quote is hidden because you are ignoring this member. Show Quote
$15,500 should have been subtracted as trade-in value but an equal amount should have been added to the lien payout cost, assuming the dealer paid the outstanding value of the loan ($17,682) as part of the trade-in deal.This quote is hidden because you are ignoring this member. Show Quote
This quote is hidden because you are ignoring this member. Show Quotei guess that is so, but having it as the $2,182.69, still looks right because that is the "Lien Payout on Trade in" being paid by him at the time of sale. I legitimately wouldn't have even thought twice about that if you guys didn't bring it to my attention. That's me having a truly objective view on this, friendship aside lol.This quote is hidden because you are ignoring this member. Show Quote
No kidding! How does someone working at a dealer figure that someone who comes in with a trade-in that they don't own any part of (and owe more than the trade-in value), should walk out with a $15,500 trade-in discount?This quote is hidden because you are ignoring this member. Show Quote
Nothing like making an easy 15k off a dealership because they fucked up the math. Should be pretty straight forward to win, but your buddy will need to lawyer up.
I can see where you're coming from. But the purchase price is approximately $35k for the X5 and the car is under water. So how does it make sense to only pay $22k to the dealership? Considering the trade in goes towards the lien/lender and buddy is supposed to pay the $2182.69 himself.This quote is hidden because you are ignoring this member. Show Quote
I agree the dealership totally screwed up and would be interested in hearing what the outcome is from AMVIC.
Last edited by s2k_boi; 06-27-2018 at 01:59 PM.
Looking back at the last car I traded in with a financed lien, I had to sign a document stating that I'm responsible for whatever the actual lien is, regardless on what's on the sales contract. Guessing this is to cover out of date information as lien information typically gets changed daily depending on how they accrue interest?This quote is hidden because you are ignoring this member. Show Quote
There's also a clause in my conditions of sale contract on my recent purchase last month that outlines errors. "If there has been an error by the Dealer in any calculation of any other matter on the front side hereof or in connection with the sale of the motor vehicle described herein, the Purchaser agrees to allow the Dealer to correct the error forthwith and the correction requires any amount to be paid by one party to the other, such amount shall be paid immediately". The Marth clause.
Question is what the contract states with your buddy, if these clauses are in place. It seems like pretty standard clauses here that every dealership would have to cover their asses.
Originally posted by SEANBANERJEE
I have gone above and beyond what I should rightfully have to do to protect my good name
Only if they put this type of math problems in exams.
Dishonest.
It's like when a cashier gives you more change then you're entitled to.
Okay, sure, lots of people would do that, but they wouldn't act so confused when some repercussion occurred.This quote is hidden because you are ignoring this member. Show Quote
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Just being a newb, but if this gets dragged out, is OP's friend going to have his credit affected as well?
What's on the back of the sales contract? There is a line on the front stating the contract also includes terms and conditions on the back of the form as well. It may say something about math errors there.
'08.5 Mazda 3
'90 Laser RS-T
'07 Yamaha R6
This was some solid Marth by the dealer and individual. Obviously not an illegal lien though.
Last edited by schocker; 06-27-2018 at 02:56 PM.
marth should be covered in the terms on the back of the contract. But considering buddy should have read them, maybe he knew they didn't.
It'll be interesting to see what happens since it looks like the buyer messed up and not the dealer.. Looks like dealers google page is taking heat over this.
100% . I can't believe OP and others are also acting as if they didn't know anything about this.This quote is hidden because you are ignoring this member. Show Quote
I'd try to screw the dealership too. I'd take the deal. I'd pray that they never figured out the mistake, and hope I'd get away with it.
But I'd expect the deal to get reversed somehow. People rarely get away with 15k mistakes in thier favour no matter who is at fault.
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Seeing as how most dealers are out to fuck people all day everyday I would too.