Payoff troubles with a Florida dealership
Have you recently traded a vehicle in to a car dealership in Florida? Has your loan fallen past due because the dealer hasn’t made the pay-off? Wondering how much time they have to make the pay-off on the loan?
Pursuant to Fla. Stat. § 319.24(5),
“[a] motor vehicle dealer acquiring ownership of a motor vehicle with an outstanding purchase money lien, shall pay and satisfy the outstanding lien within 10 working days of acquiring ownership.”
Accordingly, a dealership must fully pay off a lien on a financed trade in vehicle within 10 business days. In the event they fail to do so, you may be entitled to actual damages, statutory damages, injunctive relief and your attorney’s fees.
Before retaining an attorney though, consumers should be aware they can file a complaint with the Florida Department of Highway Safety and Motor Vehicles who may be able to resolve the matter faster than a lawsuit. To download and access the FL DMV’s complaint form, CLICK HERE.
If you’ve been taken for a ride, contact an experienced auto fraud attorney to determine your options.
