When I wrote about replacing two vehicles with one a few weeks ago, it was a burden lifted. As much as I miss the cars I traded, I don't miss the payments -- not one bit. Besides, that three-year-old mid-size SUV I acquired is working out well for my family and me.Anyone who's traded a vehicle that still carries a loan balance knows how this sort of thing works. Soon after I hand over the car, the dealer sends a check for balance to the finance company, and the finance company signs the title over to the dealer to transfer ownership. For my transaction, the routine had to be executed twice.
It happens all the time, and it's simple -- when everyone holds up their end of the bargain, that is.
I did my part, and my dealer had the proper payoff figures. Problem is, nearly three weeks later the dealer still hadn't sent the checks -- and the finance companies' quotes were valid for only ten days.
I caught a gust of ill wind last weekend when one of the finance companies called me, demanding that I pay up immediately (like I was going to do that at 11 o'clock on a Sunday morning). See, it didn't faze the lien holder that I'd traded the car and no longer had it in my possession. I'm still on the hook 'til the terms of the finance contract are satisfied.
First thing Monday morning, I phoned the salesman at my dealer and let him have it -- calmly, but with both barrels.
Over the next three days, I got 15 more calls from that finance company, most of which, thanks to the miracle of caller ID, I was able to ignore. Now, despite the fact that my dealer paid its tab yesterday (finally), my phone keeps ringing, each call more insistent and more threatening than the last.
The harassment isn't getting me down, really, because I know it'll end eventually. It's likely that my credit score will get dinged, though -- certainly not my fault, definitely my problem.
None of this had to happen, of course, but I suppose it's a reflection of the times in which we live. Generally speaking, customer service and professional competence seem to be on permanent vacation. The whole transaction wouldn't have been necessary had I not been caught in a personal financial squeeze, and the dealer no doubt is dealing with its own squeeze. Maybe the finance company has escalated its collection tactics because money's a lot harder to collect these days.
(The dealer, by the way, sells GM products and the finance company is owned by Chrysler. Both automakers are pleading for government bailouts -- go figure, eh?)
I'm not going to fret about matters beyond my control. Other than a solemn vow to never again do business with Chrysler Financial, I'm moving on with my life, my finances and my new (to me) truck -- which, like I said, is looking more and more like a great choice. It’s been a long time since I’ve run 4WD in the winter, and I can't wait for the first snowfall.
