Legal Question in Business Law in Georgia
Auto Trade-In
When we traded in our old car to a dealership, the new bank (for the new car) paid for the traded in car, but the dealership kept the money and did not pay it to the lienholder. Are we still responsible for the balance left on the trade-in or is the dealership to be held responsible?
2 Answers from Attorneys
Re: Auto Trade-In
You are responsible for your debts. You do not provide any facts showing your lender let you off the hook, or why they would otherwise be responsible for what the dealer did or did not do.
Re: Auto Trade-In
In order to protect your credit, you should keep the loan payments current until the dispute with the dealer can be resolved. Depending on the amount involved, you may be able to resolve that in small claims court. Consult with a local attorney.
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