A CAR buyer watched in horror as her credit card sank due to a crucial mistake made by her dealership.
Nancy Manning made all the right decisions when she purchased her Subaru, but it took the dealership nearly two years to correct its devastating mistakes.
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Manning, a resident of Ipswich, Massachusetts, traded in her old Kia Soul for a new Crosstrek two years ago. Will Subaru of Danvers.
As part of the trade-in, the dealership paid off the remainder of the Kia’s loan – a total of $6,700.
A month after driving her new car, she got a call from Key Bank, the company that gave her the Kia loan, telling her she owed $6,700 in loan payments.
She told the bank that the dealership had agreed to pay the remainder of the loan and that it was not her responsibility.
Read more about buying a car
The representative said the letter and check from the dealership never arrived and that her account was sent to collections after being deemed delinquent.
“This is affecting my life and has been very stressful for two years,” Manning said. CBS Boston.
“I just feel like I’m banging my head against the wall trying to get some satisfaction from someone. It’s a problem.”
As a result, her credit score dropped drastically and she became short of breath.
“I tried to get Ira and Key to talk and try to figure out what happened because I have no idea,” she said.
“I bought a car. They were going to do a reward. I drove off the lot with my new car. Then somewhere, someone dropped the ball.”
Alone, Manning hit a wall — so she reached out to the CBS Boston investigative team, who made some calls on her behalf.
“You were like, my last hope,” she told the reporter Cheryl Fiandaca.
First, investigators contacted Key Bank with a message that Manning’s case had been brought to the attention of the Executive Customer Relations Department.
The team then contacted the dealership, where a statement was emailed within a few days.
“Our team worked closely with Ms. Manning to facilitate the resolution of an administrative error between two banks related to her 2022 transaction,” the dealership wrote.
Tips for dealerships
Here are some expert tips when buying a car from a dealership:
- 1. Set your price: Make sure you have calculated your monthly budget before going to the lot. You must include your car loan payment, insurance costs, fuel and regular maintenance.
- 2. Research: Make sure you know which cars you’re interested in testing before you get to the dealership.
- 3. Pre-approval: Secure financing before going to the dealership. Dealerships may offer a better interest rate if they are competing with an outside bank.
- 4. Test: Drive before making any payments. Buying a car will be worth thousands of dollars – drivers should ensure they like the car’s drivetrain, steering and comfort before driving it off the lot
- 5. Haggle: Drivers should always try to negotiate the price. There are so many good cars on the American market – buyers have a strong hand in negotiating prices.
Source: Kelley Blue Book
In good faith, the dealership offered Manning some reconciliation for what happened in his name.
“We also contact Equifax on your behalf to correct your credit report, offer two years of free maintenance, and cover certain fees related to the administrative issue. quickly.”
Manning was very happy to have his life back on track.
“Thank God you came to help me with this,” she said.
“Because nobody paid attention to me, and you know, when they found out who you were and where you work, they started talking and calling and saying, ‘Oh, my God, I heard there was an accident at Key Bank. What can we do? ” do to help him?'”
This story originally appeared on The-sun.com read the full story
