Posted on 08/31/2024 5:06:19 PM PDT by xxqqzz
The real judgement total was $824,000. The $350K was punitive damages calculated by the jury. The actual damage was a mere $38,00 for the car and related expense.
The largest portion of the judgement went to lawyer’s fees and court costs for a trial in Federal court.
I don’t think this is good enough, there should be Criminal Prosecution for Grand Theft and Extortion for everyone in the chain of command that made these decisions.
That's wise. People often say that you shoud never buy a new car. You lose up to $5,000 or more in value the minute you drive it off the lot and it becomes a used car.
That's nonesense. You only lose that value if you trade it in right away. And who does that? Buying new keeps you in that car a year longer than if you bought a used one year old car.
I bought a brand new Xterra once. Drove it for 12 years. When I bought it, I could have bought a used one at the dealership with only 3,000 miles. Seems a fellow bought a new Xterra and found out right away it was too small for his family, so the dealer said. So they traded in this amost new car for a bigger Pathfinder. Same SUV just with a third row seat.
3,000 miles? That's nothing. But the dealer was only willing to come down just 300 dollars off the price of an identical brand new one. So of course I bought the brand new one. The point is - yes you can save money up front by buying used, but you also get the baggage of miles, wear and tear and a shorter life cycle. And then most new cars come with better financing and warranties over used.
Most people also don't know that new car dealerships make more money selling used cars over their brand new ones.
We had the same thing happen years ago at a Jeep dealership. Signed all docs, took the Jeep and went home. They came back the next day and wanted an extremely high interest rate even though we were approved and had signed the loan docs. That dealership no longer exists.
I also pay cash or I put good money down if I buy a nice car.
One time I was at a used car lot and saw a car I liked. I asked the dealer “How much?”
He gave me an amount of so many dollars down and just $xxx per week. I said no, I have cash. How much cash to buy in full today.
He wouldn’t sell it that way. BHPH. Buy here. Pay here.
Now I get that. These types of dealers sell to people with bad credit who otherwise can’t get regular financing or pay cash. And if they miss just two weekly payments, the dealer takes it back and it’s sold again. Same arrangement.
The dealer makes his money back with just the down payment and 3 months of regular payments. So the other 33 payments he gets is pure profit.
“They refer to her as being given the title. “
Page 13, Item 60
Thanks.
Illuminating.
Other details aside, I find it interesting she received the title. I wonder in how many states that is the procedure. I have only financed cars in FL and KY. In 7 or 8 new car purchases I have never received the title from the lender until the loan was satisfied.
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