| edit scores were good when you purchased the | | | | supposed to and will are two separate things. |
| car, and your payments are no higher than they | | | | Without those records, your warranty will |
| were on your old car, so how could a new car | | | | become invalid, so check now. If the dealership |
| purchase hurt you? | | | | hasn't yet closed, go get print-outs of their |
| Assuming that you continue making all your | | | | records before it's too late. Then keep your own |
| payments on time, they shouldn't. But if you've | | | | records of any future maintenance work. |
| gotten involved with the wrong car dealership, | | | | But these things are only dangerous to your bank |
| your credit scores could be taking a beating. | | | | account. Something even worse is happening, and |
| The car buying game has taken on new risks | | | | it can affect your good credit. |
| simply because so many Chrysler and General | | | | Trading in a car that isn't fully paid for has been |
| Motors Corporation dealerships are closing. | | | | routine. The dealership factors in the amount you |
| First, caring for that car may cost you more - in | | | | owe in order to compute your equity in your old |
| terms of both time and money for travel. As | | | | car. Then they pay off the old debt and re-sell |
| more and more dealerships close, you may be | | | | your old car. |
| required to travel long distances to find authorized | | | | That's how it's always been done, but in the wake |
| repair centers for routine maintenance and | | | | of poor sales and financial troubles for the |
| warranty work. But that's just the beginning. | | | | dealerships, some of them simply didn't do it. And |
| If part of your purchase negotiation included | | | | until that old loan is paid off, you are still the one |
| things like oil changes or weekly car washes, | | | | responsible for the monthly payments. |
| those extras will simply disappear. Those were | | | | Your credit report could right now be showing |
| agreements with the dealership, not with G.M. or | | | | month after month of unpaid debt on your old |
| Chrysler. | | | | loan. |
| If you purchased the car several months ago and | | | | If you've purchased a new car recently and |
| have been having the dealership do your routine | | | | traded in a vehicle that wasn't paid for in full, |
| maintenance, check to see if you have complete | | | | check your credit report today. If your old loan |
| records - because the records they kept may be | | | | has not been paid off, you need to contact your |
| lost. They're supposed to be transferred, but | | | | creditor and the credit bureaus immediately. |