March 21, 2007

Hello Tony

What are the car dealers rights if they realize they accepted a bad trade-in after the sale is done and finalized?

Thanks,

Eric F.

Answer:

Hi Eric,

I don't know what you mean by a "bad" trade-in. In any event legal rights are different for each state. You may want to check your local laws regarding your situation.

All my very best...

Tony Iorio

Additional Comments From Eric:

Thanks for the reply,

In the word "bad" I mean a car with an engine on the fritz but still driveable, and everything else about the car is perfect and in excellent shape. The engine is just 50,000 miles and bearings are bad.

Thanks.

Hi Eric,

Well, the car dealer used car appraiser is trained to spot problem areas in a trade and then they adjust the trade-in allowance accordingly.

I would assume they knew what they were getting, and if I were you I wouldn't worry about it. Unless of course, you lied to them about the trade-in, and they took it in based on your description. In any event I wouldn't worry too much about it. It's not like this kind of thing doesn't happen to car dealers all the time, because it does!

Tony Iorio

Thanks again Tony,

We had to go through a checklist with them the night before. They never asked about the engine only the transmission. The car is perfect except the bearings are going bad - still drives though. Then the next day during financing they took the keys and drove it and did an inspection while we waited in an office. I guess I feel bad for not indulging the info.

Thanks again!

Eric