I recently sold my leased Infiniti Q50 back to the dealer. The dealership said they will pay me the amount (above the payoff) only ‘after 2-3 weeks’ once they receive the title from Infiniti Financial. Is this standard practice?
Anyway I accepted it, signed the paperwork. Now 12 days have passed and Infiniti Financial says they have not received any payoff. The sales rep (who bought the car from me) stopped responding on text messaging.
I then called the dealership to ask what’s going on - why the delay? The sales-rep was acting indifferent: ‘They may have sent a check. The check came back. now they are doing it electronically…’ Sounded like B/S to me. I told him - this is just delaying tactics - and we got into a heated argument.
Anyway he’s still saying he’ll get me my payoff $ in 3 weeks from the date of sale. But my question to you all is, Is this normal? Or am I being taken by the dealership for a (3-week) ride?
If the roles were reversed and you were buying the car from them, would they let you take the car without payment till you got the title? I think not. I’d skip contact with the salesperson and head to the business office and tell them you are there to get your check.
When I sold my Camaro to the local GM dealership they took the car and told me the same thing, no check until title is received. Well they paid off the car the week after (I gave it on a friday) and I got the check in just under 2 weeks. Not bad at all.
Thanks for that data point. My heartburn is because the dealership has no intention of paying me quickly. How long does or should electronic payoff take? And to top it the sales guy is now being an a$$h….
It doesn’t appear as though they have no intention of paying you quickly, it appears as though they are following internal company rules for buyouts…in that they will most likely have a check ready for you once they receive the title. If it takes a couple of weeks, that’s life.
Why not? Its super slimy to wait on the title to be received. It’s not even like they’re a third party. They’re a dealership for the captive bank. As soon as the bank provided the payoff amount, there is no reason why they can’t cut a check. All the third party companies do it, and it’s standard practice for a dealer to take a financed car in on trade and apply the trade in allowance toward the new vehicle immediately.
I’m concerned because Infiniti financial said their side of the process is pretty quick. Electronic payoffs are applied overnight and title is released.
Also note - I only accepted 2-3 weeks coz I didn’t know any better. Doesn’t make the business practice alright…
I feel the dealers are exploiting customers - coz most like me are unaware of these nuances. They could wrap up the process very quickly.
This isn’t ‘slimy’ by any means, it’s standard practice. Vroom took my car, then cut the check and sent it to Ally as well as myself. No different here.
If you get $5k off for your trade in and they can’t get title and you won’t pay? Oh yes, they will repo. What else are they going to do, just ‘forgive’? haha
But if you get ‘cash’ they can’t repo ‘cash’. They would have to sue.
Well they could sue for the 1st case, but saying that a Trade in is the same as a Sell Your car, that’s not right, many factors change.
VROOM is the only one that does that, abs it’s why a lot of people don’t like them. ALgo, Carvana, GMTV, CarMax and all the local dealers that advertise buying cars locally all pay you when they take the car.
Dude - you are missing the point. Read my original post. The question I asked is whether 3 weeks is a standard process? Infiniti Financial says it should be much quicker. Also, California has electronic car lien and title programs. Why is it still 3 weeks?
The dealership has not done anything in the last 12 days- which to me means there’s every intention to stretch out the process (hence I’m curious - if this is what others see, in the industry too!).
Anyway - I don’t want to repeat myself; So you and I can agree to disagree on this.
