What should I do about my car loan? The loan doesn't exist, what are my rights?

Question

I purchased a new Chevy, traded in my van. The loan for my van was payed in full. The loan for the car doesn't exist. I have tried to make a payment for the last 4 months. The VIN # doesn't exist either. Now the dealership has been calling and he is saying we have to resign loan papers. We already been thru this and don't want are credit beat to c**p. And what about interest rates etc. What rights do I have? Should I obtain a lawyer? I am also wondering who would have payed off the loan for the van? The dealership or the loan company? I have not recieved a title yet but, I am recieved my stickers which were issued to the car. Our car insurance company said the VIN doesn't exist. He still insured me, said that wasnt a problem. My husband got pulled over and the Sheriff said the VIN # doesnt exist. He didn't even give him a ticket. What are my rights?

Answer 1

get a lawyer because i have never heard of such a rediculos situation, Your dealer is responcible for this whole mess.

Good luck

Answer 2

Want to purchase a new car but don’t have the enough money to buy it, don’t worry there are certain things you can do to buy that car and adjust to pay for it on monthly basis. This is what we call Auto Loan Financing. You can apply for the same at any bank. However, banks will not approve your loan at a time, there are the things that they have to look into before they approve you in favor of online auto loan financing. http://www.autofinance-ez.com/

Answer 3

The dealership paid off your loan.

The VIN is the problem and that started at the dealership level. Take a minute and go out to your car, find the VIN on the dash and compare it with the VIN on your contract. Watch for missing number/letter or S/5. With a bad VIN, the bank will not proceed with a loan. The dealership wants you to sigh a new contract with the corrected VIN. The new contract should not change in any way from your old one.

What the cop meant is that the VIN did not exist in the DMV system and its true. The dealership has not been able to process the transfer yet.

Answer 4

When you traded in the van, you signed a power of attorney form that gave the dealer the rights to your title. So, you won't receive the title from the loan company.

Since a bank has not signed onto the new loan, the car still legally belongs to the dealer. If I were you, I'd be right down there working something out with them. Sounds like the bank didn't approve the new loan (odd that it took 4 months).