Category: Car Finance Companies

Ally Financial Car Loans Discriminate Against Minority Buyers – Says Department of Justice and CFPB

Posted on 01/03/14 by Dana Manner
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The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) obtained a consent order against Ally Financial Inc. and Ally Bank to pay $80 million in damages  for car loan discrimination, and $18 million in penalties. This order against Ally represents the federal government’s largest auto loan discrimination settlement in history. When consumers buy a car, the […]

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USA Today Article Quotes Miami Consumer Advocate Attorney Dana Manner

Posted on 02/07/13 by Dana Manner
USA Today

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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Florida Car Dealer’s Motion to Compel Arbitration Denied

Posted on 02/05/13 by Dana Manner
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On February 5, 2013 – County Court Judge Sharon Zeller entered an order denying Wow Auto Deals, LLC Motion to Compel Arbitration in a case where a Pembroke Pines, Florida car buyer complained that Wow Auto Deals fraudulently sold them a car with defective or missing airbags. In response to the complaint filed in Broward County by Dana L. Manner, […]

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Florida Lenders can be Liable for Car Dealer’s Bad Deals

Posted on 12/03/12 by Dana Manner
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Portions of this post were originally published in the Florida Bar Journal November, 2012 Volume 86, No. 9, “Lender Liability for Merchant Misconduct in Consumer Transactions” and are excerpted here with the permission and generosity of the author Ian Forsythe of Hilyard, Bogan & Palmer, P.A. Example: Car buyer purchases a vehicle from a motor vehicle dealer, and finances the […]

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Miami Car Dealers Fall Victim to Their Own Sales Practices

Posted on 10/15/12 by Dana Manner
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After a year-long investigation into auto fraud by the Florida Department of Law Enforcement, 9 suspects (including a Miami Beach police officer) were arrested last month on September 7, 2012   related to a scheme to defraud Miami-area car dealers, for nearly a half-million dollars. George Robert Navarro, 26, a Miami Beach police officer, was charged […]

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Florida Spot Delivery Case Still has Merit

Posted on 09/15/12 by Dana Manner
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Car buyer Garrietta Vereen sued dealer Lou Sobh Automotive of JAX Inc. d/b/a Honda of the Avenues in Jacksonville, alleging that the dealer violated the Truth in Lending and Equal Credit Opportunity acts, Uniform Commercial Code and the state’s retail sales financing law, in a spot delivery case. Buyer also alleged that the dealer violated Florida’s […]

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Car Dealer Yo-Yo Scams Examined by Center for Responsible Lending

Posted on 07/04/12 by Dana Manner
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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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FTC Warns of Car Loan Modification Scams

Posted on 07/01/12 by Dana Manner
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The Federal Trade Commission recently released an FTC Consumer Alert entitled “Ads for Auto Loan Modifications: You May Be Able to Drive a Better Deal with Your Lender“ There have been several companies advertising on TV and the internet promising car loan modifications, like mortgage loan modifications, and the FTC has filed lawsuits against several […]

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Maximum Rate Allowed on Florida Used Car Loans

Posted on 06/30/12 by Dana Manner
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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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Florida Proposed Legislation to Defeat Duval Motors v. Rogers Case Dies in Committee

Posted on 06/13/12 by Dana Manner
Florida Capitol

Florida Senate Bill (SB 1660) entitled “Contracts for the Sale or Lease of a Motor Vehicle” died in the Transportation Committee on March 3, 2012 leaving the Florida Automobile Dealers Association (FADA) who introduced the bill to ask themselves: “Where Do We Go From Here?“ In the 2012 session of the Florida legislature, FADA introduced a […]

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