Legal Question in Business Law in Texas

auto payoff balance

On Feb. 6, 2007 I called the dealership that holds the note on my vehicle. I asked for a payoff balance. They told me. I thought I had 10 days to payoff my vehicle. I took the check over today, Feb 12, 2007. They told me I owed more. I also found out that they were charging me interest everyday that went by plus interest on the loan. How can I get my payoff on my vehicle back to the amount that they stated on Feb. 6, 2007?


Asked on 2/12/07, 12:24 pm

2 Answers from Attorneys
James Grissom Law Office of James P. Grissom

Re: auto payoff balance

Probably can't. You can find the payoff for 02/22/2007 and pay that amount. If you overpay by some amount, that should be refunded to you.

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Answered on 2/12/07, 1:29 pm
Peter Bradie Bradie, Bradie & Bradie

Re: auto payoff balance

You need the payoff for a date certain, and make sure that the check covers that amount. Your car loan accumulates interest on the unpaid balance every day, so ask what it would be in a week (if you have the money). Then make sure the money is in their hands that day; not mailed that day!

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Answered on 2/12/07, 1:53 pm


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