Legal Question in Consumer Law in Florida

Payoff on traded car

About 3 Months ago I traded in my truck for a new car. During the sales process the salesman asked who the trade was financed by and the payoff amount. I told him who had the note and said I wasn't sure of the payoff exactly because I had been making extra payments becuase I knew I was Upside-down on the car, but the gas on the truck was too high and I needed to get out of it. I told him based on what I thought it was around $31000+. We found a new car for me sat down and made the deal with the Finance person he used the $31000 as the payoff amount and worked all the numbers from that. I signed the paperwork and was on my way with my new car. About a week ago the Sales person and the finance manager came by my office and said I told them the wrong buyout amount and I owe the dealership another $4200.00. At this point they are treating to tow my car away if I don�t pay them the additional money. Can they do that? Is it my responsibility to make sure the dealer verifies the payoff amount or is it theirs?


Asked on 5/30/08, 10:35 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Payoff on traded car

It is your responsibility to pay off your loan. Look at the peperwork that you signed. I suspect that among the paperwork that you signed there are clauses that would require you to pay the extra funds to pay off the car loan.

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Answered on 5/30/08, 11:49 am


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