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mangochick
My DH and I purchased an 06 trailblazer early April. We signed the contract, paid the downpayment and drove off the lot. Early May, the dealership FI guy calls us to say that the bank will not accept the paystub that we both gave in april because it wasn't within 60 days. I tod them that we gave the most recent paystub back in april. The fi guy said we gave him a paystub dated Jan. We didn't agrue and gave him the most recent paystub we had. A week later, I get a harrassing call from our former lienholder because they haven't received the payoff check yet and the car payment is creeping on 60 days past due. I told them that we have had our new truck for a month and we don't know what to tell them. They call the dealership and they said that they are having problems financing our loan. So I call the FI guy again to find out what's going on. the fi guy says that the first loan expired because we didn't provide the most current paystub, so they had to reapply at another lender, so we had to come in and sign another contract for a different lender. We can in and resign all the paperwork again. I asked the fi guy if he could show us the copy of the paystub that he claims we gave to him and april and he said that he cannot find it? Now it's going on the end of May and we are still getting harrassing calls from our old lender. They said that they will have to pick up the truck from the dealership for non-payment. At this point, what should we do? I don't want them to pick up the truck and then find out that we are not approved and have to take back the trailblazer, then we will end of with no truck at all.

Help!!
MarvBear
I do not pay off customer trade vehicles prior to being funded on the new loan.

If requested as a condition of approval, POI needs to be less than 30 days old. If not provided within a timely manner the approval will expire.
mangochick
Thanks marv for responding. Should I still be paying my car loan on the old car until the new card is funded?
MarvBear
I personally would not, but you do run the risk of a 30 day late being reported. It would behove you to respond to the F&I requests in as timely manner as possible in order to get your new loan funded.
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