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.
But dealerships donât just have a moral obligation to pay off trade-ins; they have a legal obligation to do so. The laws on such matters vary from state to state, but most states have a specified time period â frequently 15 to 30 days â in which to pay off a trade in.