A MAN was left stunned after a local dealership caused major issues to his credit score after he traded in a vehicle with them months prior.
David Wright, from Bonneau, South Carolina, traded in a vehicle to Winding Chevrolet GMC, Kingstree, but later discovered the car wasn’t paid off and that he was suddenly responsible for two sizable payments.
A man was left stunned after a dealership caused major issues to his credit score after he traded in a truck[/caption]
He received an almighty shock when his bank got him contact with him demanding a payment[/caption]
In a report by Count on News 2, Wright purchased a 2024 Chevy Silverado from the GMC dealer back in June, and traded in his 2017 Silverado at the same time – which had a balance of around $35,000 on it.
Wright then opted to roll that balance into the amount he financed with GM Financial for the new truck, making the dealership responsible for paying off the trade-in vehicle.
But in August, Wright revealed he received the first of many concerning letters from the bank that his former truck was financed through.
Wright said: “I got a letter from TD Bank wanting money.
“So I called them and she said ‘late on the payment,’ I said ‘ma’am I traded this truck in June.’”
Wright then spoke to Winding Chevrolet to ask why they had not paid, and he was told that their bank account had been hacked.
Wright added: “They were trying to get everything straight so they could take care of it
“As soon as they got it where they could get the money back in the bank they would pay it off.”
While the dealership made one payment of $812 on August 20, Wright continued to get calls from the bank about missed payments.
He said: “Now my credit is going down because of them being late, late, late, really late.”
Wright later received a letter stating that TD Bank could end up repossessing the truck if the payments were not made.
Furious at the car dealership, Wright added: “They have made no attempts to change nothing.
“I got a letter, right to cure, where they are fixing to start repossessing the truck, and once they repossess it then that’s really messing my credit up.”
Later in the report, News 2 revealed how they went to the dealership to investigate and discovered the lot was empty, with all of the new cars gone.
While the business owner Michael Winding said that the cars had been moved because they are in the process of changing out GM Financial as their floor plan loan company, David was later invited back to discuss the situation.
The trade-in contract with him was eventually cancelled, with Wright given his old truck back.
Wright added: “Channel 2 news came up here with me and now low and behold I got my truck back and they got theirs.”
Winding confirmed that a request to cancel the new car deal with Wright had been submitted and that he would be compensated for what was already paid under the contract.
Wright is still waiting on final confirmation of this from GM Financial but is hopeful the situation is resolved.
“Now I got to get my credit straightened back out,” he said.
The issue was later resolved and the man received his old truck back – but his credit score still needs straightening out[/caption]
