no, but if ram did that and called it the redeye everyone would lose their minds
also granger dont lease, plus you have to pick it up in person
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Trx market still good
Just because your car is underwater doesnât mean these are
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Base went up like 5k, you still making money even at msrp if you ordered back in august
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I could use some expert advice here -
I sold the truck to local cjdr dealership on 10/21. Had next payment due at 10/29 but went ahead and paid it assuming Iâd get all of it credited back from ccap.
It turns out the dealership sent the check to the wrong address (they claim ccap gave them the wrong address) and ultimately had to issue a stop payment on the first check. They sent out another check but got a new payoff this time from ccap, which was obviously lower because of the extra payment I made.
Now theyâre willing to refund the principal portion of the extra payment I made ($700ish out of the $1507 payment) and are basically telling to me to pound sand for the remaining interest plus taxes I paid.
The whole thing sounds ridiculous to me but the finance guy kept repeating that itâs on the documents I signed that I owe any outstanding amounts until the loan is closed.
Am I in the wrong here to expect all of my $1507 payment back? Iâm reasonably good at math and finance and from what I understand, I should be getting all of it back.
I had something similar happened. Made a payment while payoff was pending or nothing received. I ended up getting the payment (full) returned to me by CCAP.
And I was expecting the same but since there was a stop payment on first check, they pulled a new payoff before sending the second check.
Now theyâre saying theyâre not responsible for the interest plus taxes that were part of the $1507 payment I made. Which makes no sense because as the seller, I sold the truck on 10/21, 8 days before the next payment was due.
they didnt need to pull a new payoff, your sales contract with them should show the payment they were going to make to CCAP. that is they payment they shouldâve sent since that is what was agreed upon at sale
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Yeah thats how I understand it as well. Theyâre putting the blame on me essentially for paying the extra payment and are saying the interest and taxes portion of the payment is not their responsibility to pay back.
Does ccap get to know with the payoff check as to when the vehicle was sold?
your payoff was pulled 8 days before next payment due so the old payoff shouldâve already included the next months rent charge. You were going to pay the next month rent charge regardless of your situation.
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Unfortunately they arenât going to refund you the tax and rent and honestly itâs not their responsibility to do so.
Theyâre doing the right thing by refunding the principle difference as thatâs the amount they were bound to by your sales contract.
A mistake was made, but that doesnât excuse you from your signed lease agreement. You were obligated to pay the payment, if they had of processed the payment in a timely manner you would have gotten it all back.
Such is life, you still drove a nice truck and Iâm sure cashed out equity.
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Iâm trying to understand this - The mistake was made by the dealership/ccap. But because they couldnât send/process the payoff in time, I have to take an $800 hit? My paperwork shows the truck was sold 8 days before the payment was due, so why would there be interest/taxes due on it?
Youâre correct. It seems like the payoff was done after your payment which would only decrease the payoff by the principal amount. The taxes and rent charge wonât be refunded.
Any money recuperated would have to be between you and the dealer.
CCAP is weird, it runs its interest due timeline on a 14 day schedule. No per diems AFAIK. Since your payoff was pulled 8 days before due date, the payoff factored in the next months interest. Plus doesnât seem that CCAP wouldâve processed the payoff that fast to make sure you donât owe interest. Nonetheless CCAP accounting is weird and this is just a consequence of the game.
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If it was already factored wouldnât my extra payment make it double interest given to them? Between the payoff the dealer sent and my extra payment?
If this is part of the game thatâs fine with me, the engineer in me just wants to understand and make sense of this whole thing. Paying interest plus taxes on a truck I donât own just baffles me.
Edit - looks like itâs better to not make the extra payment at all to avoid all this fiasco.
But selling a truck, which you donât own, for money in your pocket doesnât baffle you.
I see. 
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I can always count on you to add meaningfully to the conversation. That doesnât baffle me either.
Your dealer has 10 days to make payment. You sold 8 days before your due date. The situation sucks but would have been similar if they decided to pay on the last possible day.
Sensitive and easily offended when challenged, but not easily baffled.
I see.
Did you TRX flex last night for Thanksgiving dinner?
- Yes
- No
0 voters