Yup! I think this happened to someone on here and their credit got destroyed because the dealer didn’t pay it off.
If this does happen, the bank will not reverse the late payments on the credit report. You could just tell dealer to refund you on back end or get a check for overpayment from previous loan
As has been mentioned earlier in thread, NC charges a 3% highway use tax on vehicles. This is 3% on the purchase price (net any trade value) and for leases is only 3% of the monthly (making NC a very lease friendly state). Sometimes out of state dealers are confused on how this works. Also, you are assessed personal property tax from your local county on the value of the vehicle each year (typically a separate transaction from anything having to do with the dealer - and usually in the ~1% range depending on your local tax rates).
So, their missing 3% is like $300-500 only.
Yes exactly. I don’t think dealers should make complaints about it. Just eat the loss and keep OP happy.
How do you think I can lease all these EQS in NC and NJ? Imagine if I had to pay NY/CA/Chicago fees up front! lol
So for me, (When I worked at Mercedes) I told my General Manager about the tax issue in NC (Because he didn’t collect tax for some reason) and he told the finance manager to eat the mistake and it was done within an hour.
OP said the dealer stated they would eat the 3% fee. However, the dealer has not yet paid off the loan on the trade, which is what OP is worried about.
Thank you everyone for the replies. This has been a very helpful thread. Luckily I have a good relationship with the lender on the previous vehicle, and they alerted me before I got close to being reported. I will make those payments and hope the new dealer pays the correct amount, if the deal goes through, which would give me a credit. My real concern at this point is the silence. I have left messages with the salesmen, the finance manager,had the accounting department tell finance to call me, and it’s just crickets. I called Chase which will be servicing the lease, and they told me they have not been sent a contract. I am at a loss here as to why they won’t even tell me what is going on. The lack of communication has me worried, so that’s why I was asking about the option to unwind. At this point I am ready to drive to the dealer (300 miles), and walk in and demand my keys for my previous vehicle. I have a document with my paperwork stating if the deal isn’t placed in 10 days the contract is null and void.
They were probably swamped at the end of the year.
I don’t need to imagine in VA LOL
The reason I said to check the contract is because he may be paying GA tax, in which case he is eating it and not the dealer. Also, the correct state will need to get paid eventually and that could be the hold up. As for the delay in response, keep taking it up the chain until someone gets back to you. GSM, GM, etc. Find their names on the dealer website.
Don’t drive there. The people you need will magically all be out that day and you will have to turn right around and head home.
I know they did NC because they had to look up how much to charge.
Okay, good luck.
They will give him no info - they do not have an account with him until it is funded
What kind of car did you purchase? And do you know if the dealer is part of a large network ie. autonation, Penske, Lithia, etc.? If so, drafting a few e-mails to corporate might help facilitate a response from the dealer.
Email the GM
CC the GSM and corporate
you’ll get a quicker response
Give the GM a chance to resolve it before corporate/higher up, but definitely stop screwing around with sales person, finance, GSM, etc.
So even if the dealer eats the loss, he still has to rework the signed contract to reflect the proper taxes being collected by the bank and sent to NC. Won’t the Op be asked to sign a new contract at the same payment with different dollar amounts?
Probably. Dealer will probably have to cut a check
It’s a mystery car, you have to guess! 
