I just recently bought a new car from a dealer about an hour and 30 mins from were I live, I took out a loan from navy fed and bought the check and trade in to the dealer, filled out the paper work and bought my new car. The dealer calls me today (a week after purchasing my car) to tell me that his bank rejected the check because he forgot to print the name of his dealership above his signature. So the bank called him and told him it would be 10 business days before the check was returned to him. He angerly requested that I bring the car back( an hour and a half away)and take the car that I traded in back until he revived the new check in the mall. The car I traded in is currently uninsured and out of my name and the new car is in my name and insured through me so can he legally make me go back and get the car I traded in and drive it for the 10 days the bank takes to give him a new check?
Anonymous2016-09-23T23:05:54Z
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Have navy fed WIRE the money and keep the car.
You will need his bank information. This is HIS fault.
The CU will charge you $14 for a wire transfer. Id send the full amount less $14 because the mistake is HIS. More if you have to stop payment on the check. He is 90 minutes away. He isn't going to come repo it or sue you for $14 or $34 or whatever.
Be POLITE but firm. This is HIS mistake and you will help him solve it but not if it costs you money. If you are in the Navy, have your boss call him if he tries to play hardball with you.
Talk to the general manager or owner if you aren't already.
PS, it doesn't take 10 business days for a check to be returned. Maybe 2-3.
In fact, the easiest solution may be for him to wait 3 days, correct his error on the old check and there are no fees.
If you post the name of the dealership or email me, I will call & deal with it for you. I was a dealer for a dozen years. (Small time but still)
They are being totally unreasonable. And you must mean used car because no new car dealer would ever make such an amateur mistake.
How long has that dealer been in business that they do not know how to endorse a check? It is their mistake, they just need to wait to get the legal (scanned) copy of the check back from their bank, properly endorse that and redeposit it.
I ran into a similar issue when I lost my job last Nov. which officially ended at the end of the month. But the last day we where to work was the 25th (before Thanksgiving) when they gave us checks for vacation balance and projected bonus. I deposited the checks that day not realizing that they were postdated Nov 30. My bank later rejected the deposit and I had to wait for legal copies of the checks to redeposit them.
The car you bought is yours; guess what he will say if you respond you don't want the car anyway and are returning it to him and wishing him good luck in his future dealings. The contract is signed, you paid him with a valid check and took possession of the car. Help him straighten it out because it is the right thing to do, but he doesn't get the car back.