Question for my peers......mileage limitation on balloon loan - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Question for my peers......mileage limitation on balloon loan
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Posted by Duhey2 [Email] (#151) [Profile/Gallery] (more from Duhey2) on Thu, 12 Apr 2001 12:11:26 Share Post by Email
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My girlfriend has a to-remain-unnamed car that she is turning in due to her balloon note reaching maturity (i.e. balloon payment is due). When looking through her "retail installment agreement" (RIA), the line denoting the maximum amount of miles before the excess mileage charge of $.15 was left blank.

The reps at the manufacturer's credit corporation has stated their system indicates she's allowed 50,000 miles (10,000/year). To me, the RIA is the legally binding agreement between her and the credit corp. Does anyone have any experience with this? Is there anything else she would have signed with a mileage stipulation? The jurisdiction is Texas.

Sorry for this being off-topic but as I stated, y'all are my peers and more than willing to help out a fellow SAAB owner compared with people who drive cars made for the masses.

hasta,
D2
96 900S
63K miles...new belt, idler pulleys, and battery.

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