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I have been trying to pay off a car loan and while BOA received a certified money order from the dealer who bought my vehicle a week ago, they are stalling in posting it to my account so they can continue to collect daily interest. When I call them, they just play dumb and say they cannot identify who actually received the money, and I will just have to wait until they get around to posting it to my account.
I have a payment due in a couple days, so I KNOW they are waiting to get that payment, which will mean they received an additional payment which is over the payoff amount they quoted me.
That would likely take months to get back.
New car buyers beware: if the dealer arranges financing of your vehicle, before you sign, ask them who the lien holder is.
If it's BOA, run for the door. They are crooks, and Customer Service does not exist.
Preferred solution: final car loan payoff confirmation by 4/21/2021.
Location: Blue Ridge, Georgia