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      10-18-2012, 08:14 PM   #1
fl335i
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Used Car Dealer not paying off Trade (Exotic motor cars)

Guys, I'm loving my E39, but the sale experience is not over. I bought my 530 on Sat Sept 15. Traded in my Lincoln. I paid them CASH (which cleared 3 days later!) for the difference of the vchicles. They were supposed to pay my trade off. So the quick math is price of the 530 + my upside amount we agreed to on the lincoln. It's a work car, so I knew I was upside down. 40k/yr will do that. But anyway... we came to a deal, bill of sale is accurate, I even have a pay-off agreement page saying they are buying my car for the pay off amount and even gave them my most current statement.

It's now Oct 18, 2012. 33 days later. I've been given the run around for the past three weeks. I was specifically lied to three times about payment going out. 1- went to the wrong address. 2- went out, don't worry this time it'll get there by end of week. It didn't, even 10 days later. Today I was told it went out this morning overnight UPS or FedEx. I asked for a tracking #, they could not produce one, never would call me back or take my calls. Even spoke to the owner of this medium size independent dealer. I actually had to make a emergency payment over the phone today, with late fees so my credit would not get damaged. What Mother F'kers. I could F'n beat their arse. Has anyone been in this situation? Pointers? I'm in the Clearwater, FL area. What may plan is and it's already underway as of today.


1- I filed a written formal complaint with the FL DMV dealer license division.
2- I obtained their bond agent and bond company and bond #.
3- I sent the complaint that I sent over to the DMV to their bond agent.
4- Agent and DMV both confirmed they have active $25,000 bond.
5- Filed a complaint with the local BBB.
6- Contacted a few local news channels as part of their "action for you" leads.
7- I have called an attorney on deck, and the next step is make the appointment he will see me and thinks I'm in the right (of course). I'm sure the course would be a law suite.


This just amazes me how they can do this. I think this is a felony in FL. The chevrolet dealer was doing a lot of this couple years ago when the economy bottomed and they threw him in jail for 2yrs over not paying trades off. Made huge waves in the Tampa/Clearwater area.


Throwing this out there for fellow members. F**K THESE PEOPLE. Do not do Business with them.

Exotic Motor Cars
41041 Us Highway 19 North
Tarpon Springs, FL 34689
(727) 938-5000
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      10-19-2012, 09:33 PM   #2
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Update. News reporter was all over them today. She actually could get answers and tracking #'s out of them. Apparently a UPS package was delivered today, Via overnight. So they plan for my pay-off to get there the day before my 30 day late date. BUT, tomorrow is Saturday. So it may not post until Monday the 22nd. So I'm screwed and get reported. UNLESS my emergency payment from last night posts today.
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      10-19-2012, 10:12 PM   #3
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call the old loan company and let them know the situation, they will make sure it doesnt get reported. especially if you never had a late payment before.
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      10-19-2012, 10:30 PM   #4
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Welcome to FL...Always sunny cuz of the shady ppl
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      10-20-2012, 07:52 PM   #5
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^ I called and they don't care. They will report according to them. They were pretty much F'n useless during this whole ordeal. Never will use Ford/Lincoln Credit again. I've always been AHEAD on payments. I pay them that weekend of the week they came in the mail. I asked them, well what is the law in FL for dealers to pay off trades? They didn't know... some idiot CS rep. They basically told me it's up to me to make it paid. They should at least know, state by state approx what the legal law states for pay off. What a rib on their part. They could of at least said, here's your law in your state, I can pull it up and email it to you or tell you what it is, and give you a 10 day grace on reporting due to the situation. They didn't even ask for a bill of sale. So yes, it's on me, but I get them paid within 5 days of receicing the statement and then they can't even give me one F'n day or even give me a tip of how this works in FL. Even after the CS rep said this is very common. So if it's common, why don't you know what the law is in all the states you do business? Or say, well if you fax/email a bill of sale we can offer a 7 day grace period for credit reporting or something... NADA. Thanks Lincoln. I should of paid them the F'n day before the due date. When shizi hits the fan you really see how people operate. I made a payment on a car I don't even have. My dealer supposedly sends in payment that arrived Oct 19th in the morning and it's du the 20th, which is a Saturday. And my lender (lincoln) doesn't know anything about FL law on payoffs and wont' give me one day. F**K both. Cash is king. Titles in the gun safe = better than this BS.
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Last edited by fl335i; 10-20-2012 at 08:02 PM.
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      10-27-2012, 12:37 AM   #6
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It got paid off. At the last stiken minute. So they lied to me the whole month. Never doing business with these guys again. Sticking to the bema dealer
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      10-27-2012, 01:14 AM   #7
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Quote:
Originally Posted by fl335i View Post
It got paid off. At the last stiken minute. So they lied to me the whole month. Never doing business with these guys again. Sticking to the bema dealer
Generally payments made within a 60 day window should not be reported as late. You also should have had a grace period on your loan.
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      11-15-2012, 12:46 AM   #8
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Glad you got everything worked out.
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