Trappe, Maryland; Town: Motto(s): 19th Century Charm - 21st Century Progress Location of Trappe, Maryland: Coordinates: Coordinates: Country United States: State Maryland: County: Talbot
When buying new cars, if you ignore our advice and you trade in a used car which you still owe money on, insist that the dealer put in writing that they will pay off your car loan in 10 days or no deal. Then the dealer is liable because you took steps to protect your rights up front.
Before sealing the deal on your new car purchase, make sure that the written contract includes a promise to pay off the lien on your trade-in. Follow-up with your lien holder within 30 days to confirm that the dealership has, in fact, paid off the note. But remember that these measures still do not guarantee that the dealer will pay off your loan.