Audi Finance Volkswagen Finance VW Finance VW credit leasing Put a 90 day late on my credit Hillsboro Oregon

 I traded in an Audi A4 lease for a 2016 Chevrolet Colorado at the end of December 2016. You have to return the lease back to the Audi dealer you purchased it from. They paid off the lease, not the payoff of the car. There was only 6 months left on the lease, it was less expensive to the dealer to pay off the lease and return the car than to pay off the whole car and be responsible to sell it.

When you return the lease, the registered owner has to turn it in to sign off on any damage to the vehicle. The Chevrolet dealer sent the final amount to Audi financial when they got that amount from them in January. It took a while to get that amount, so in the mean time I paid the December and January payment of the Audi lease. When the final check got mailed to Audi Finance from Chevrolet dealer there was an over payment on the Audi account, being that we financed the amount already into my Chevrolet Colorado. Do you understand now? I’ve bought and traded in cars with balances for over 15 years of my life.

Any time you trade in a car you still have to make the payment up front so it doesn’t effect your credit because the new dealer doesn’t have to send out the check till the last day of the Payoff Amount. When you ask for a payoff amount it’s only available for 2 weeks. So the new dealer will wait the whole entire two weeks to send that payoff amount to the previous finance company. In the mean time a payment can become due so it’s your responsibility to pay it so it doesn’t effect your credit.

If you turned in the car in January of 2017, the dealer paid it off (presumably in Janary as well), and you received a refund check in Janary as well. Why would you continue to make payments on the lease until is closed on your credit which in your words is August?

This reimbursement check is also very odd, these checks can take several weeks and usually 30 days at a minimum.  It would also generally include an indication that your account is closed and paid in full.  So if you got the check the same month  you turned the car in that is extreamly fast and I would wonder exactly what that check was for.  

The dealer payoff is interesting.  Generally dealers will pay off a loan in order for them to resell the car. Yet you turned the lease into a different dealer.  So this dealer just gave away money to get the deal?  Unless this was just a couple hundred dollars, it is not likely, so was this payment added to your loan, or how exactly did they make up for it?  Are you sure they dealer paid off the full amount due?