[richard sargent]

So you have my million dollar diamond ring, I owe you 20k, you sell the ring 650k and keep that the 630k that does not belong to you.

What would you call this????????????

Bank repo cars all the time and you get your car repoed for all little as missing one payment.

So lets say you have the new 638 Hp vette you put down 100k have a balance owed of 30k. You have a emergency in the hospital miss your first payment. Vette gets repoed bank sells this vette wholesale for 100k.

They keep every dime, is that not stealing?

This was never Greg's problem, just like guy who would buy a new ZRI for 35k below book that was repoed.

He was right time right place with dough and bought the car you say with a title, he was willing to take a chance that was his business.

Maybe you should get you facts straight, how can you be so sure this guy who owned the IV was a dead beat?

I know he is a member why don't you ask him about his Deadbeat Status? Here's the responce I got.

Hello,
Thank you for your offer to assist and well wishes.
I and several lawyers have been working this from several angles. Unfortunately I must wait for an active criminal investigation to conclude, before I know which direction(s) to pursue. I have been most impressed with the calls, emails, etc. offering all types of assistance. Always said I liked Pontiac people... : )
Thanks again


This is what I know, a IV vert was sold way way below market value to settle a debt of 8k, the owner was deliquent, the shop owner kept all the proceeds, not just what the bill was.

Please explain was this is legal, moral and is for betterment of our hobby?

I own a car lot, I sell 1200 cars a year, I know the law, I deal with it everyday, I have inhouse customers who's credit is so bad even mouse houses won't take them, but they still need a car to get to work, these people owe me north of 100k.

Call them what you like, they miss payments quite regularly, I am not entitled to STEAL and keep the full value of the car if it exceeds what they owe, nor is it legal.

Get your facts straight, original owner did not pay his bills, yes, but he was never informed or warned about the title being taken out of his name. The police simply came and inspected a mechanic's lien not knowing the full facts. The original owner had no knowlege of what was going down, why don't you ask this so call DEADBEAT?

When I repo a car by law, I have to send them a registered letter with balance owed, repo fees, with a time limit of 21 days to pay.

After that I will sell car, if the car brings more than the balance the money is refunded period.

If you want to sell their car to wife's cousin for 50.00 or charge 100 bucks a day for storage or any other fly by night BS it is wrong and yes illegal

You own quote "The great obstacle to discovery is not ignorance...but the illusion of knowledge." Daniel J. Boorstein