Randomly checked my credit score profile today and found out there was a 38k auto loan open to my name… apparently they never closed my Wrangler “lemon” car out from 2 years ago.
Who should I be contacting about this? The credit union I leased the car thru or the dealership?
Also is there any negative impact with this being open so long? Doesn’t have any late payments or anything like that. Just seems frozen and showing as an auto Loan on my report
I don’t think dealership has anything to do with it.
If you leased thru your Credit Union and then when you lemoned it out, the vehicle manufacturer should have paid off the Credit Union on the outstanding balance.
Credit Union then should have reported the payoff to the credit reporting agencies so check with your Credit Union and ask them to mark this as being paid off.
Alright, will give them a call today! Thanks!
Happened with a Lexus lease I returned 2 years ago which was still showing on my credit this Feb. Called Lexus Financial and they reached out to the big 3 Credit Bureaus and sent out a letter to me in a week or so that the loan account has been closed. They had no idea how they missed it
Credit union told me to get ahold of the servicing group. Called them and lady was very helpful. Apologized and said they would get their credit reporting lady to fix it right away.
Thanks for the advice and comments!
That’s crazy it would slip thru a company like Lexus. I would expect it via a smaller credit union but with a large company like that, that’s crazy!
yeah and i found out after like 20 months lol
Hopefully in the long run it helped your credit ultimately for having that loan for so long with no negative marks or payments on it.
This one has been a about a year, so I’m glad I checked randomly