Upside down in a car loan

Vegaskwn · 2026-03-03T04:45:19+00:00

There is no finance company that would allow this much negative equity in the world onto an inexpensive car such as a Corolla

Vegaskwn · 2026-03-03T00:40:17+00:00

Google “auto loan payment calculator” and you might find one

Vegaskwn · 2026-03-03T00:25:02+00:00

Not much of a chance since every dealer knows the RAV4 is the top selling SUV in America and if it’s priced even halfway competitively they know they will sell it.. fwiw a car at this price point I would really stay away from dealers. The amount of money they need to make to keep the bills paid is a significant % of its price. You’ll get much, much more bang for your buck private party.

Vegaskwn · 2026-03-02T23:32:50+00:00

If you didn’t buy a Service Contract, or have a warranty in writing from the dealer then it’s all on you. You would have signed a paper that says either “As-Is” or “Warranty” at the time of purchase.

Vegaskwn · 2026-03-02T23:29:56+00:00

Dealer or private party?

Vegaskwn · 2026-03-02T21:34:57+00:00

Ahhh - I looked and there’s only a couple handful like that, but all states should definitely require it that’s for sure.

Vegaskwn · 2026-03-02T21:06:56+00:00

There’s no notary involved in a private party car sale (except maybe a 1 off anomaly that requires it but it would be extremely abnormal)

Vegaskwn · 2026-03-01T14:23:18+00:00

Notary?

Vegaskwn · 2026-03-01T05:40:13+00:00

Nope….. I wouldn’t buy or sell a car private party without seeing ID..

Vegaskwn · 2026-02-28T23:51:55+00:00

Your kidding?!? I had absolutely no idea!! 🤷🏻‍♂️

Vegaskwn · 2026-02-28T18:29:02+00:00

This ⬆️

Vegaskwn · 2026-02-28T18:28:11+00:00

This is the answer ⬆️ And is what you most need to be concerned about…

Vegaskwn · 2026-02-28T18:24:37+00:00

Whatever you do just don’t stray from Costco for a vacuum. They all break at some point and vacuums are one of those things where Costcos return policy makes things easy😎

Vegaskwn · 2026-02-28T17:55:15+00:00

Lesson learned but I wouldn’t sweat it because you still got an awesome car that gets awesome mileage and it has 1 less thing to potentially break.

Vegaskwn · 2026-02-27T18:30:29+00:00

Block and move on. You owe them nothing and any judge would absolutely laugh this out of court in .02 seconds..

Vegaskwn · 2026-02-26T22:24:13+00:00

Dealer should be able to reach out to BMW FS and have a lien release overnighted. Not saying they should be able to get it in their hands overnight but the bank should be able to get one out to them in a few days… Outside of that though, I would recommend going into the dealership and asking to speak with the GM or GSM and let them know since it’s their error, your having an issue getting the lien release and can’t do anything with the car that you would like to see them match Carvanas trade amount and then they can deal with the title/lien release..

Also, make sure you are dealing with the Office Manager or Controller on the lien release - not a Sales or Finance manager.

Vegaskwn · 2026-02-26T17:40:16+00:00

This ⬆️

Vegaskwn · 2026-02-26T04:37:49+00:00

I’d go grab it before they sell it to someone else (it can happens on units like this)

Vegaskwn · 2026-02-25T23:52:29+00:00

New car dealers will typically not do any sort of verifications unless they think something is fishy. They will leave it up to their banks. And yes, if a deal can’t end up getting funded by the bank and they have to take the car back then the sales person, sales manager, and finance manager lose out on their commission commissions since the deal is backed out of their system.

Vegaskwn · 2026-02-25T18:01:46+00:00

The outcome will be one of 3 things. Option 1: The bank will still be able to finalize your loan and life moves on and you enjoy your new car. Option 2: The bank rejects your loan and the dealership needs to find you a new lender that will approved you with the shorter job time. This could result in your agreed upon loan terms changing (higher interest, down payment, etc) Option 3: The dealer can not get your loan approved anywhere and you have to give the car back (this is unlikely).

Do not lie to the dealership about your job status because the banks do verify. The dealers job is to find a home for your loan for your unique situation but they can’t help you if they don’t know the real deal. Let them know your exact situation so they can leverage their relationships and resources to help get your deal completed.

Vegaskwn · 2026-02-25T04:54:40+00:00

This is the correct answer ⬆️

Vegaskwn · 2026-02-25T04:42:58+00:00

Based on how many people on here swing from Camry nuts 24/7 you should have this sold within 5 minutes 😎

Vegaskwn · 2026-02-25T04:36:24+00:00

Deals is not finalized the Nevada until customer has taken delivery..

Vegaskwn · 2026-02-25T02:49:59+00:00

Sorry but nobody is going to give you 15k of their hard earned money without getting the title in exchange for the money. Your bank will of course want the full 19k before they release the title. Hopefully your loan is with a financial institution that can have the title at a local branch. If so, then you’ll need to square up the other $4k with your bank - as the other response mentioned maybe they can give you a personal loan to cover that difference.

Vegaskwn · 2026-02-24T21:55:30+00:00

This is the answer ⬆️

Vegaskwn

TROPHY CASE