Waiting for dealer to cut me a check

Ask the Hackrs
,
1

Hi! New member here! Today my husband leased a Chevy. We traded my car in and the amount the sales person told us was an awesome price. Signed everything over and she said since it’s my name they have to cut me a check but it won’t be ready for few days. I’m nervous they will change the amount. Is it common to have to wait a few days for the check? Also, the amount is not on any of the lease receipts. He did sign where the amount was we just didn’t get that copy so naturally I’m nervous because it was a great trade in value.

Can anyone confirm if this is the normal process?
Thank you!!

2

That does not sound normal at all. There is usually a “We Owe” form that lists what they owe you.

3

What does this mean?

Waiting a couple days to cut a check makes sense I guess, but it doesn’t make any sense to me that you’d have no paper trail and apparently no documentation. From my experience with GM dealers you get either a We Owe form, or a trade-in form from the dealer.

edit: Also what are the details of your lease? What is shown in the lease contract for amount due at signing?

4

Congrats. Accounts Payable in a dealership doesn’t always cut checks every single day. Personally I would have waited to take delivery until the check was ready. The amount should be listed as “due to” customer on contract. If it’s not there you should get something in writing.

5

Why would silly details like that be important…:roll_eyes:

6

At many dealerships the owner has to sign that check and they are not in on a daily basis. Just call them asking about it.

7

Why would you possibly do that when you can ask strangers on the internet with no documentation?

8

When we did the wife’s car last year we sold the dealer the car and had about $1,500 in equity. There was a form included in the paperwork showing the amount owed to us and they sent us a check. Most dealers are not set up to cut a check on the spot. They can’t change the amount owed if documentation is all signed.

9

They likely only cut checks once or twice a month.

Check the contract for trade allowance and how it was applied.

10

They may be just waiting for your lease to get funded. If it’s rejected for some reason, then they will just return your old car. Happened to me, I waited for about 2 weeks. They cut me a check the same day the contract was finally funded

11

Thanks! It’s not due to the customer because my husband financed and it was my trade in.

12

My husband owed a thousand due at signing. He didn’t actually give any money. She explained that she deducted it from the trade in value and will get the rest in a check cut to me since the trade in was in my name not husband. There was a signed document separate from the contract breaking down all the numbers. We also had to do plate transfer since it was in my name. I just didn’t get that piece of paper.

13

It was signed by my husband, the document just was t include in the papers we received.

14

Because the lease contract was for one person and the check from the trade in was owed to different person :grin:

15

I actually was more interested in getting an answer to how long it takes to cut the check. To be clearer… Is it a possibility that it would take more then a day to cut the check? :wink:

16

The lease contract was for my husband.

17

Yea I don’t know :roll_eyes:

18

You would have to ask that dealer. I’ve worked at companies where check runs only happen once a week.

19

Absolutely may take more then a day. If it’s not on the due bill/contract, you may be waiting a lifetime for the check.

20

1-2 weeks is normal. Typically a check has to be signed by two people in upper management (think GM and the owner), so it can be wait between getting the check cut from the office and having two people sign off on it.