Auto Loan Error - What do I do?

Answers:1   |   LastUpdateAt:2012-09-23 08:10:02  

Question
Prudence
Asked at 2012-09-05 08:56:05
Buy a car exactly 31 days. The dealer called us yesterday and they said they filled the loan paperwork incorrectly - that put the wrong amount on the check and send mail to fill back to the bank. There was an error in our favor - a few thousand below what the original amount of documents we signed MedlinePlus. MedlinePlus We called the bank to see how to fix it and unfortunately, is not as simple as sending a fax to the dealer to have the original documents signed. We have 3 options 1) Pay cash 2) refinance the car to the current loan amount or 3) the dealer to pay the amount that has already accepted from the bank, and go through the loan process again to get a loan from correct amount. MedlinePlus MedlinePlus The first option will wipe out our savings and we can not do that. The other two choices negatively affect our credit. MedlinePlus MedlinePlus The dealership has already cashed the check sent bank, and the bank has already put a lien on our car. Does this mean that the licensee has complied and the title to the bank? If that's the case, you still technically owe the dealer? When you turn the title to the bank, they are implying that we are good at everything, right? MedlinePlus MedlinePlus Right now, I'm just frustrated with our options. We should not have to suffer because of the mistakes of representation. The general manager is supposed to call us today and I want all my facts straight before making the call. MedlinePlus MedlinePlus What would you do? What are our options? I'm not trying to get out of paying the difference, we agreed to that amount for 31 days. I feel frustrated because it seems that we will have either to end our savings or take a small hit to our credit score beacuse of his error. And our credit score is excellent. MedlinePlus MedlinePlus HELP!
Answer1unsure!Answered at 2012-09-23 08:10:02
What about option 4 - sell the car to the dealer at the original price , since it was their mistake ?
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