*Sigh*
Back in the fall, I was thinking to myself, “Hey, the van should be paid off in the spring or so — we can start looking for a replacement for the Saturn.” And then, to my surprise, we got the title for the Sienna in September. Huzzah!
So I’ve been going along, making those New Car Plans since then.
We continued to have the money pulled from Margie’s paycheck direct to the account that the old loan had been pulling from, basically so that we could save for the down payment. Last night I saw a statement from the credit union, and decided to read it for the first time in a while (since that was the only activity there), to see how much we’d saved.
Uh … what’s this? Money’s still getting pulled into the new loan account. And … money is still being paid from that account, and there’s a balance still showing.
Hmmm.
So I call the credit union, explaining I have a nice, signed title cert to the van, and WTF.
Hmmmm.
Their records show it was a five year loan, which doesn’t sound right (I thought we went for a shorter loan, 3 or 4 years — I figured it was a 3 year when we got it “paid off” at the end of 2002).
They have no idea why they sent us a signed title cert, and would like it back very much, thank you. (They mentioned this, very politely, serval times.)
What they can’t explain is why their records show that auto loan is actually for a 1997 Accura, which, needless to say, we’ve never had.
Hmmmmmm.
They’re going to call us back. And, maybe, I won’t send back that title cert quite yet.
Well on the plus side, someone out there owns a ’97 Accord was sent a notice that they had payed off their car early, but they do not have a title.
P.S.
It is better to owed money by the bank then owe money to the bank.
The bank will of course want immediate payment from the owners of the Accord, with you…they will streatch out the repayment till sometime in April.
Do not relinquish the title.
Idiots.
Which do you think…
employee with ‘who gives a damn’ syndrome?
or
newbie with nobody checking their work?
Either one is not your fault, and the bank needs to get their fact-checking in a nice, neat pile for you to review.
That said, any reason why you aren’t in a credit union?
They tend to run a much tighter shop, and are friendly to boot…!
Actually it is a credit union.
Yes, the Bellco Credit Union, affiliated with Margie’s employer, which is why we have the loan through them.
Got a call back from Cindy. In pulling the original paperwork, it appears than when they did a system conversion of some sort back in July ’01, the wrong property (a ’97 Acura) was put in. The other information on the loan — the amount due, and that it was a five year loan (which still sounds wrong to me, but not to a moral certainty) is supposedly accurate.
And, um, could we please send that signed title back to them?
Margie and I will chat, and figure out the next step. But it sounds like the new car purchase may be put off for a while.
The beginning of the story reminded me of when we thought we’d have the van paid off this October, so were going to double-up-plus payments to get it paid off earlier. Only to find out the loan was longer than I remembered as well.
I do hope yours gets straightened out soon!
Gah. A credit union.
I’m shattered.
These things aren’t supposed to happen.
Hope you find a resolution soon.
(not to put an edge on it, but you do know where your copy of the purchase agreement is, yes?)
Margie believes we actually did it as a 5 year loan, with the intent to pay it off sooner.