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.
Notify your old bank that you have traded in the vehicle and they will be getting full pay-off any day now, and they should be able to make a note on the account so you don't get any annoying phone calls about it. Quote: Originally Posted by marsolais View Post. Ok so this is what I am wondering. How long should it take for a dealership to pay a trade in off. I traded my 2009 Ram in on the 31st of Dec and was told that they would pay it off right away. Well it is the 10th of Jan and the bank is telling me that the loan is still active and a payment is going to be due on the 14th.