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When trading / selling a vehicle to a dealership is it normal for there to be a lag in payment ? Drop off car , I’ll cut you a cheque next week ?
Part of transaction is taking delivery of one of their new vehicles prior to receiving payment for trade-in (next week) .
Not sure if I’m making sense thinking out loud...basically if I’m expected to deliver my vehicle I would expect to be paid at that time .
Are you trading it in or selling to a dealer?
If trading in, normally dropped off when picking up new ride. No payment made to you (unless your not putting full equity of trade vehicle towards new one).
If selling to a dealer, yes I'd expect a check when I drop it off.
Yes not putting equity of vehicle into new one .
I would expect a check to be waiting when I dropped it off unless it's someone I have an established working relationship with.
Thanks I feel same way , not sure what common practice is .Quote:
Originally Posted by ZR
I'd treat it the same as when you've done a job for someone, expect to be paid. I'm sure whatever you owe when the new one is picked up will be due before you take possession of it.
Paid on delivery is the norm, if trading in, the value of the trade is taken off the cost of the new vehicle, in which case you also save a lot of taxes since you pay tax on what you pay for the car (after trade)
More importantly, what's the new vehicle? :)
Nothing on my endQuote:
Originally Posted by True Blue