Closing auto dealerships are sticking customers with liens
February 4, 2009
by Ruth Manuel-Logan, Auto Examiner
I've written about the wave of closing dealerships before and now it seems that the situation has gotten even worse. Customers are getting stuck with used car loans that unscrupulous auto dealers were supposed to have absolved. What in the world is going on???
When you trade in a car and still owe money on it, the dealer typically agrees to pay off the loan before reselling the vehicle.