Comment

Comment by Thomas LaBate on January 27, 2010 at 6:11am

Tina thank you again and I agree with you on this deal.

Comment by Tina Faucette on January 25, 2010 at 9:27am

Thomas. I can only comment on Florida Laws and Florida deals, but in NO circumstances would I ever let this woman get her car back and I would be under no legal obilgation to do so. The only requirement is that the customer has 10 days to pay their car off completely. NOT just catch up. That is the full balance plus repo fee and any other fees which would include the tax I would pay to the state if I so desired. I thought you wanted to let her redeem until I heard some of the other circumstances. The acceleration clause allows you to accelerate the loan if repoed, but you should read carefully, it should give you grounds to repo even if the payments are not late. Say for example her payments were on time, but you knew the car could get impounded due to the tax issue, that to me would be clear cut collateral in jeapordy. Say her insurance cancels (you may not require full coverage but I do), again you should be able to repo the car even if she is current. I try to wait for more than one issue so there is no confusion, but seems like you have a slam dunk and frankly this women fraudulently obtained the vehicle if paying the tax is part of the sale. You would not have sold her the car if you knew she was going to bounce the check for tax and tag. Writing bad checks is illegal and can be prosecuted. Tampering with the tracker shows you #1 she can't be trusted, #2 she intentionally tried to beat you and you have to assume that everything esle she told you was a lie. I tell people about the trackers in the paper work, but they don't read everything. I don't have the buzzers so if someone removes them, I know they went into the deal looking for it and knowingly trying to defraud and specifically went looking for it. Feel free to call me. if you have any questions. 321-279-1212. I can't comment on PA law, but I have been doing this for a long time and I do everything first hand in my business from approvals to collections to dealing with the headaches so I think I have a good sense of things. I can see you are going to have nothing but problems with this account and should count yourself lucky that you got the car back. If nothing else, why take a chance? You do have to be careful though if you are not familiar with the laws, regulations, you contract, etc. These are the types of things that can get you in trouble and these people are the types of people who can get you in trouble. That is partly why I say just be done with them. I worry about those buzzers. I know for example in Florida, and you should check into this, you have to be careful about bankruptcies. If someone goes into bankruptcy we can not try to call or collect or anything. That buzzer would be considered a collection so check into it. That is something that can get you into legal trouble. You have to be careful about certain types of advertising. You can get fined (and we did when we first started for not having a disclosure) for certain things. I see a lot of dealers doing the same thing. Just cause everyone else is doing it doesn't mean its okay. We also had a DMV guy come in one time when we first moved into our new location thinking we were new and didn't know what we were doing trying to force us to give someone a repo back. Telling us a bunch of BS thinking we didn't know better cause we were new. Anyway feel free to keep asking questions. There are a lot of people on here who are happy to help out.

Comment by Thomas LaBate on January 24, 2010 at 12:32pm

Tina I really don't want to put her back in the vehicle. I thought that if she pays her balance and gives me the cash to fund the state Iwould give her the vehicle back. Tina I think what you told me about the installment loan contract, the acceleration clause, I could keep the vehicle. If you agree let me know,I actually asked her why she cannot pay,she told me other bills, but before I give here the vehicle back I want to see those bills and new paystubs to see whats going on. They own there home and its up the street from the dealership. the cid in the vehicle is about $1400, but I understand that this customer is much more of a risk than previously thought. What I do from the begining as I am sure you to, is put these customers in what we call a pink deal. (a cheap car) If they can show the ability to pay we will put them into a nicer vehicle later on, but not this customer. I think your right we should keep the car. In our repo letter we give the customer 15 days to claim the vehicle. I dont think she will have the money. One other thing that bugs me is how they knew how to tamper with the system, more so in a professional matter, to cross the wires not just disconnect the unit. I believe this one will always be a problem. I have been in this business since 1980, but was all cash and finance later sub prime and now bhph for 13 months I dont know all the laws yet pertaining to bhph,how does that work in Fl.

Comment by Tina Faucette on January 24, 2010 at 9:12am

I guess the point is they should just pay on time and they would never have to hear to annoying buzz. I have heard a lot of people really like it. We don't have many accounts so I haven't considered using a buzzer. Its just not that hard for me to do the collections and I would rather they not be reminded that the device is there. For one I don't want them to tamper with it, but also like you said you are going to get the winers and complainers and people who are going to say its making the car break, etc. Its just me and my husband so we have to deal with it all. Thomas, I am curious is it the law in PA that you have to let the customers redeem the vehicles cause that lady you talked about with the bounced check and the late paymens and tampering of the device you mentioned letting her redeem????

Comment by Thomas LaBate on January 24, 2010 at 6:37am

Once the customer is educated on how the system works its not a problem they like it because they believe that it is a good theft device.I like that feature also it really helps with the collections and shuts them off automatically. most of them come in to pay when they are shut down. I have had one problem with the tampering of the system and it happens to be the women we were talking about earlier, thats what made me repo her. First she was late, then she did not tell us the truth. When she tampered with the system. We were still able to locate and then repo the vehicle. Tina as far as payment reminders, if you explain that to your customer the right way they laugh most of them think its a good way to remind them. The ones that complain are the problem child, late all the time and dont want the system on the vehicle. I had one instance where the customer kept telling us that the system was causing problems with the vehicle. After so many complaints about it we removed it he was repoed 2 weeks later. As you know some people just dont want to pay.

Comment by Tina Faucette on January 23, 2010 at 11:54am

Thomas, how do you like that one? Do you find that the payment reminder reminds them they have the tracker and invites more tampering? Have you had any problems with it? We don't use the shut offs on ours and I am wondering if you have ever run into any issues with that? What about with the payment reminders? Do you get any complaints from the customers?

Comment by Thomas LaBate on January 22, 2010 at 5:26pm

Tina pass time is the GPS we use the one that shuts the vehicle down and has gps

Comment by Tina Faucette on January 22, 2010 at 12:56pm

George, thanks. Just too much of a change after doing the same thing for 20 years. We have thought about it. But its learning a whole new business.

Comment by George T. Klinke on January 22, 2010 at 12:51pm

Tina, in FL if you did leasing you could get around the huge amount of taxes going to the state up front. Just a thought.

Comment by Tina Faucette on January 22, 2010 at 9:14am

Thomas, that is the worst thing I have every heard. How can the city do that? I don't know which GPS you use but most will email or text you. If you know the yard that the city uses you may be able to set up a geofence going into that yard and if it goes into it get an email alert, or set one up for a couple yards. I think I would always collect tax and tag and submit it to the state if that is an option. I can say we have been burned a couple times in different situations, but you get burned once and you learn never to let it happen again.

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