Re: Re: Atty's can collect? Si, hombre. Yo si se. Y es la verdad tambien. LOL That little story came out in Reader's Digest many years ago. In Spanish speaking countries it is called the "Estrella" or "Star" How about the Plymouth Volare. Do you know what that word means? Several cars have been put out over the years with foreign words in their names.
Re: Re: Atty's can collect? Bill, did you know (I am SURE you do) that a consumer can check at a vehicle and find out more than the dealer knows about it. There is Carfax, Autocheck (Exp, yuck, but all Manheim auctions are set up through Exp) anyhow, there are lemon laws. If there is major damage history or salvage history or any defect that the dealer knew or SHOULD have known and did not disclose, the unit can be returned. I am not familiar w/other states lemon laws but considering MS has about the WORST consumer protection laws out there, I would think other states can only be stricter. It is the consumers responsibility to check all of this BEFORE they purchase. Our lot is backed by Carfax, in other words, the customer can recieve a Carfax right here at their choosing and if the vehicle comes back down the road to have any major damages not disclosed by Carfax, they will be reimbursed 5k by Carfax.
Re: Re: Atty's can collect? I'm calling Urban Legend on that one http://spanish.about.com/library/weekly/aa072301a.htm
Re: Re: Atty's can collect? I know of several dealers who do want the repos and deliberately do whatever they can to be sure that they get a sizeable down payment on cars and make the terms as stiff as possible hoping that they will get the chance to repo at the earliest possible moment. They will openly brag about how many times they have repoed and resold a car. One dealer I know of openly admits he averages as much as 5 to 10 repos per car before he finally gets out of it either by junking it, having it wrecked by somebody or somebody finally does pay it off no matter what he does. He says he can tell when to let go of a car because it has finally reached a point where it will be more expensive to keep it than to let it go.
Re: Re: Re: Atty's can collect? I said MOST. Alot of times the vehicle is so destroyed by the time it is repoed that it is not really sellable again. Therefore not worth repoing, thus MOST dealers (here anyway) would rather make their 100% profit and not waste their time or money, yes money, it costs to repo.
Re: Re: Atty's can collect? Yes, I know about that but that isn't a real practical thing for most buyers. They may not know about it, and it isn't free by any means and dealers don't provide that for the cars they sell. It sounds like a good idea but it really isn't in most cases. Good in theory but not in practice.
Re: Re: Re: Atty's can collect? Most of the little lots I know of have their own wreckers and they do their own repos. Yes, it does cost money but for those who are doing it with their own wreckers it usually don't cost much. Maybe $10 or $20 a pop for the gasoline and time to do it.
Re: Re: Re: Atty's can collect? We do, and as I stated before, we are BACKED by Carfax. About 60% of the dealers in my area are backed by Carfax as well. Carfax guarantees the vehicle. Granted that does not cover mechanical issues, but if you want to know the history of the car, there is no better way.
Re: Re: Re: Atty's can collect? Let us hope that more and more dealers will get themselves up to speed as you have done.
Re: Re: Re: Re: Atty's can collect? Well, lets see, my dh's truck is a diesel (has to have diesel to haul the cars) diesel is now at almost 2 dollars a gallon. The time spent SEARCHING for the unit, remember, I am in MS, so more than likely, NOT just around the corner. IF he can find the unit, he risks being shot, again, remember this is MS, evrybody and their DOG carries a gun here, and the laws are amlmost LAX about using them. So, he puts his life in danger over repoing a car that he has already made money. You are correct, they can make up to 200% profit if they repo, if the vehicle is not destroyed, but all the other factors, we would rather get someone that is going to just pay it and be done with it.
Re: REPOS And what's that LB? Elaborate please. =========Tnobles++++++++++++++\ ================ Repos should be illegal, The END ************************* LB 59
