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Ads proclaiming "Government Vehicle Disposal" and "The Repo Joe Sale" are designed to steer buyers to special used car sales events under the pretense they're getting a special deal.
Your car gets repossessed, which makes it even harder to earn money. The missed payments and repossession sink your credit, which makes it nearly impossible to finance a new car, and the cycle ...
A bank created fake accounts, forced clients into unnecessary car insurance and repossessed vehicles when they didn’t pay. Now it has agreed to $20 million in penalties
Sanchez, 836 S.W.2d 151, where a repossession agent towed away a car even after the loanee locked herself in it, the court decided that this was an unlawful breach of the peace and declared the repossession invalid. The debtor was also awarded $1,200,000 in damages from the bank involved.
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
Greg Ross, a car salesman in San Juan Capistrano, who lost $120,000, testified that he demanded to speak with the manager of the bank servicing the Bowers estate. A few days later, Ross got a call from Bob Burrows, a First Bank and Trust loan officer in Lakewood, California. Burrows disclosed enough details about the account to assuage Ross's ...
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. [1] Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. [ 2 ]
Learn about long-term car loans, their pros and cons, and whether an 84-month car loan is worth it based on your financial situation and car-buying needs.
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