The dealership was trying to scam me, they're such scumbags.

"Sure we'll take your cobalt lease as a trade in...we know guys in GMAC don't worry."

I didn't trust them so I told them to put it on paper with my VIN number on the letter saying the car will be out of my name within 10 days...they did that, signed it..everything looked good..but I still felt iffy. I looked closely at everything...and they changed ONE number in my vin so I wouldn't notice. So I phoned them back and got pissed...they sent me a new one after wards. I still don't know if I trust these guys, I guess I'll have to see within 10 days...

 

1) Your Cobalt does not get paid till the new lender gets you approved.

2) Your new lender is who pays off your old car. They will send the check to GMAC. So without getting that proof, your Cobalt will still be yours until the bank processes the new loan.

3) Yes you are lying and commiting fraud for not telling the bank the truth, and now they want verification.

So in the end, provide the proof, or turn the car in before your credit becomes hit badly, or you go to jail.

 

The bank already has the proof, the approval has been done a couple of days ago..I just made my first payment yesterday. That's not the problem.

The problem is the dealership promising to take the cobalt off my hands even though it's a GMAC lease where GMAC said they don't sell the dealerships but the dealership told me they have people they know at GMAC who will let them buy out the car. Now I'm starting to think the dealership was just trying to give me the Z and I'll be stuck with two cars.

 

Like I said, the dealership will not pay the car off. It's the new Lender who is suppose to send the check to GMAC to pay the car off.

For example. I just traded my TL in for a Z. Nissan sent a check to Capital One which had my TL and paid it off 2 weeks later. The Z is now being paid on with Nissan.

Dealership gets a check from the bank itself of the difference.

 

Your new lender may or may not have anything to do with paying off your old car - they are almost certainly to separate transactions.

 

sounds like the dealer is royally screwing you over..... get out of it fast.

 

actually nissan has one of the most lenient finance companies when it comes to credit. gmac is very strict, but pipe in with you uneducated drivel as needed for comedy

 

You have been driving the 350Z for 17 days. Do you still have it?
What happened with the Cobalt?