Legal Question in Credit and Debt Law in California

Pink Slip, Contract, congradulations letter

I made a auto payment on-line for 333.14--I did not put in the decimal so payment was submitted for 33,314.00--our bank of course bounced this amount and the auto loan company rejected this amount--a few days later I received the pink slip signed off and stamped paid in full, a few days later I received the note and a letter of congradulations--I would just like to know if I have some bargaining power to refinance this loan at a lower rate as I'm sure they would like the pink slip back. They not only showed the vehicle paid in full, when we contacted them--some yo-yo at the finance center in tin buck 2--they said they had put 19,000.00 in an account for us--what account we asked--we don't even bank with you--he said to mail pink back--where(to him)& he would take care of everything, and that was the end of that--we just wanted to talk to a real person--but wanted to know a little more before we did--want to pay what we owe, would just like a little negotiating power on the interest rate--can you help with any adivice


Asked on 2/12/07, 1:02 pm

1 Answer from Attorneys
Jonathan Stein Law Offices of Jonathan G. Stein

Re: Pink Slip, Contract, congradulations letter

No, you cannot use this to negotiate a lower interest rate. You entered into a contract. If you do not send back the pink slip, they can have a new one issued by DMV. Just send it back and do the right thing.

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Answered on 2/14/07, 6:28 pm


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