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redundant
This redundant and honestly not that helpful. While you wait around and get lied to by the dealership, your other loan becomes late and you lose 40 points on your credit score. Delinquent accounts are a huge factor to your fico score.
Wachovia has a laundry list of things the dealership must do before payment is sent. This list includes putting the lender as a lien holder on the vehicle registration. That is a 6 week process if the DMV has nothing else to do.
The dealership must include paystubs submitted by the borrower that the lender must then confirm. The dealership must include all of the options the vehicle has included on it on a specific check list sheet, as well as inform the lender of the true actual mileage.
There are so many things the dealership must submit to DMV and the lender that the borrower never realises. The check from Wachovia could take 2 months to get.
But go ahead and inform Capital One you have traded in the vehicle and balance two car payments for an unspecified amount of time to find out if they just haven't updated their systems yet. I particularly wouldn't suggest that road though...