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I did an auto loan for a customer where she was buying from another state but titling it in the state where we were.
We are only a local institution, so it can be a bit difficult going back and forth with the dealership (we don't want to send the check until the dealer applies to get the title in the customers name, and the dealer--not knowing us--is uncertain about starting the titlework until they see the check). In this case, the dealer was cool--accepted our dealer commitment letter as the promise it was.
The problem: dealer didn't charge sales taxes.
NOT the dealer's fault. In their state, no sales tax. In my state, there most definitely IS sales tax. So, dealer titles in their state, sends it to us, and we switch the title over. Which means I should have calculated and collected the sales taxes myself.
Understand, this is not a little thing. I mean, it's a CAR. She was in a 6.5% sales tax county. The car was only a bit over $6500, but that's still over $400 that I failed to collect.
And we cannot complete the title work without paying the sales tax. That's not our fee. It's not something I can waive.
I was SO dreading calling up this member to let her know that I needed an extra $400+. I expected her to raise a huge fuss, demand that we pay it, etc.
And the dear woman just asked if we needed to take it out of her account, or would it be possible to add it to the loan.
You wonderful dear! I will handle it however you like me to! You want it on the loan? Sure thing! And you aren't even going to complain that that means I have to have you come in to resign some of the loan documents?
I swear, if this woman ever needs ANYTHING, I will bend over backwards to try to make it happen for her.
We are only a local institution, so it can be a bit difficult going back and forth with the dealership (we don't want to send the check until the dealer applies to get the title in the customers name, and the dealer--not knowing us--is uncertain about starting the titlework until they see the check). In this case, the dealer was cool--accepted our dealer commitment letter as the promise it was.
The problem: dealer didn't charge sales taxes.
NOT the dealer's fault. In their state, no sales tax. In my state, there most definitely IS sales tax. So, dealer titles in their state, sends it to us, and we switch the title over. Which means I should have calculated and collected the sales taxes myself.
Understand, this is not a little thing. I mean, it's a CAR. She was in a 6.5% sales tax county. The car was only a bit over $6500, but that's still over $400 that I failed to collect.
And we cannot complete the title work without paying the sales tax. That's not our fee. It's not something I can waive.
I was SO dreading calling up this member to let her know that I needed an extra $400+. I expected her to raise a huge fuss, demand that we pay it, etc.
And the dear woman just asked if we needed to take it out of her account, or would it be possible to add it to the loan.
You wonderful dear! I will handle it however you like me to! You want it on the loan? Sure thing! And you aren't even going to complain that that means I have to have you come in to resign some of the loan documents? I swear, if this woman ever needs ANYTHING, I will bend over backwards to try to make it happen for her.
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