Sure, you're making your payments. But is your car dealer?


There's a little known problem that anyone buying a car should be aware of. That is, anyone buying a car who trades in their old model as part of the transaction.

These days, car dealerships, as we all know, are as cash-strapped as anyone else, and so sometimes, people will trade in their autos, which aren't yet paid off, with the idea that the dealership with pay off the balance on their loans.

Chances are, if you've done this or are doing it, everything will be fine; but you should be aware that in some instances, especially in the last several months, dealerships have declined to pay off that loan.