QUESTION
used car dealer took 30+ days to pay off two trade ins causing slow pay to appear on my credit report.any legal recourse?
Asked on Sep 19th, 2014 on Consumer Law - Ohio
More details to this question:
Traded in two cars and financed one. The dealer agreed to hold my down payment check for a few weeks.I took delivery, the dealer received payment from the finance company but did not pay off my trade inns until my down payment check cleared.I was not made aware of the dealers intention.my credit is damaged.is there any liability on the dealers part?
1 ANSWER
It doesn't sound like the dealer did anything wrong but even if they did, what are your damages? How were you injured? The law requires not only that they do something wrong to you but also that it financially hurt you somehow. You would need an expert who could say what the damage to your credit reputation is worth in money and that kind of expert is very expensive to get, to prove your case. I suggest you argue with the dealer and try to get whatever you can out of them if you aren't willing to spend what is probably at least $5,000 to hire a credit rights damage expert, because that is very likely what it will cost (I've seen some of their billings in cases like your's).
Answered on Oct 15th, 2014 at 6:29 AM
Answering questions on a forum like this is not legal advice and does not create an attorney-client relationship.