Posted on 02/15/13 by Dana Manner
CAMBRIDGE, Mass., December 12, 2012 – Car shoppers looking to save money by buying a used car instead of a new one will want to take note of findings from a recent study by auto shopping site CarGurus (www.cargurus.com), which indicate that roughly one in six (16%) used cars listed for sale in the U.S. shows [...]
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Posted on 02/07/13 by Dana Manner
February 7, 2013 USA Today “Confident Consumer” reporter Jayne O’Donnell published an article on Yo-Yo car financing entitled “Don’t Take Car Until Loan is Final” (pdf copy of article). The article highlights many of the problems surrounding spot-delivery of cars to consumers (i.e. cars are delivered “on the spot” with a promise from the dealer [...]
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Posted on 09/30/12 by Dana Manner
September 21, 2012 – Thomas Breese Brown Jr. owner of Palmetto Automotive Sales and Service LLC, a used car dealership located at 405 8th Avenue West, Palmetto, FL has been arrested, the Florida Department of Revenue announced. Mr. Brown, 42, who lives in Palmetto, was arrested by the Manatee County Sheriff’s Office on felony and misdemeanor [...]
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Posted on 09/30/12 by Dana Manner
September 24, 2012 - William B. Hatchett owner of B&K Motors, Inc. located at 220 North West 5th Avenue, Hallandale, Florida has been arrested on charges that he stole more than $41,000 in sales tax he collected from customers, the Florida Department of Revenue announced today. Hatchett lives in Pembroke Pines and was arrested by the Broward County [...]
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Posted on 09/15/12 by Dana Manner
Here’s an amusing video published by FADA regarding Florida dealer non-compliance with car financing laws. Fast-forward to 0:56 to see the police detective pointing a finger and interrogating the hapless F&I manager. Detective: “You’re not issuing the appropriate notice of credit denial. Your Buyer’s Order does not comply with Chapter 501.” F&I Manager: “You’ll have [...]
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Posted on 07/04/12 by Dana Manner
A recent research report published by the Center for Responsible Lending entitled “Deal or No Deal: How Yo-Yo Scams Rig the Game against Car Buyers” examines the yo-yo scam used by car dealers. “In the yo-yo scam, the dealer allows the customer to leave the lot on a spot delivery but pulls the consumer [...]
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Posted on 06/30/12 by Dana Manner
The maximum amount of interest, or the highest interest rate (APR) allowed by law in Florida on used car loans is governed by Florida Statutes 520.08 – “Finance charge limitation.” The statute provides for a sliding-scale of increasing interest rates allowed, depending on the age of the car at the time that it is sold or [...]
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Posted on 06/25/12 by Dana Manner
According to a press release of the US Attorney’s Office of the Middle District of Florida in Tampa, Florida US Attorney Robert E. O’Neill announced the unsealing of a thirty two count indictment charging Russell B. Simmons, Jr. (42, Tampa) with tax fraud and aggravated identity theft. Specifically, Simmons is charged with eight counts of [...]
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Posted on 06/24/12 by Dana Manner
June 6, 2012 – George C. Nugent, 35, owner of C And G Auto Sales has been arrested on charges that he stole more than $25,000 in sales tax he collected from customers, but failed to send in to the state, the Florida Department of Revenue announced. Mr. Nugent, who lives in Fort Lauderdale, was [...]
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Posted on 06/24/12 by Dana Manner
May 10, 2012 – Rodney T. Davis, the owner of Victory Motors of Tallahassee, Inc., formerly located in Tallahassee has been arrested on charges that he stole more than $63,000 in sales tax he collected from customers at his dealership, but failed to send in to the state, the Florida Department of Revenue announced. Mr. [...]
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