Question regarding Dealership refund

[Justin.b]

Originally Posted by FBaxteR-S

And many stores have a policy that if payment was via a credit card they will only issue refunds to that credit card. How is this situation any different?

Because the TFS loan has been paid off and that account is no longer open. There is nothing there to credit. I'm assuming that any payment made against that account would have TFS cutting a check to the OP or would just bounce back to the dealer.

-Justin

[|-Goku-|]

Originally Posted by FBaxteR-S

My understanding of your situation is: you didn't actually pay the $899, therefore why would you be able to receive a cheque (I'm Canadian) for $899? You're essentially attempting a sort of cash-back technique where they add additional capital to your loan and front you the cash, this doesn't make sense to me.

They can reduce the principal of your loan by $899, and this will not reduce your payments, but it will mean your loan is paid off sooner.

It sounds to me like you're trying to get cash when no cash ever left your pocket? Don't think that the loan credit will go nowhere, it will result in you paying less interest and having the loan be done sooner.

Am I missing something?

I'm not attempting to screw them if that is what your implying. I am going to have them try and send a check to the credit union that I am using now. But I think it's bullshit that they say that I can only purchase stuff through them until the end of the year or the money is gone.

[FBaxteR-S]

Originally Posted by |-Goku-|

I'm not attempting to screw them if that is what your implying. I am going to have them try and send a check to the credit union that I am using now. But I think it's bullshit that they say that I can only purchase stuff through them until the end of the year or the money is gone.

No, sorry Goku, that's not what I was tying to imply. I was just wondering if perhaps you hadn't viewed your argument from that point of view, the point of view that I was presenting. Did not mean to cast you as the villain here at all. :happy0180:

I would say sending that principal back to your credit union to reduce your loan would be the most prudent, as you had originally included it in your loan so money not spent is money saved.

As per their argument that your "credit" expires at the end of the year, you probably agreed to that in some way, shape, or form through your contracts with them during the process.