Dealer Repossesses Car, Customer Responds by Legally Taking Its Name
www.thedrive.com
A customer was able to legally claim a dealer’s name after it went back on financing and repoed her car.
  • PancakesCantKillMe@lemmy.world
    26·
    8 days ago

    Interesting story. I believe that Kia dealer in “Lie-ma” is going to offer her a free car.

    If they decide to go to court over the dealer name, which she now owns, the legal process may turn over stones and shine too much light on them. Dealerships don’t like to do that. Even this “repo” or recovery could be a variation of a “yo-yo” scam, but they’d have to be working with the finance company for that to work in this case, I think. Still a maybe. For now, she’s out a car and if she had a trade-in that’s likely gone too. But I think that will change soon enough. Good on her!

    • darkmarx@lemmy.worldEnglish
      8·
      8 days ago

      Hey, you said it right. So many people pronounce it Lee-ma, like Lima, Puru. But it’s really pronounced Lie-ma.

      I get you probably meant it as a joke, but still… And of course, a joke someone might learn something from, well, that joke just became 10% better. Or was ruined completely. It can go either way… But it is Lima (Lie-ma), Ohio.

    • The_v@lemmy.world
      23·
      8 days ago

      That is one hell of a bargaining chip on the dealer.

      The dealer now has an expensive dilemma: rebrand, offer to purchase the name, or lease the name back. Any choice they make will cost them.

      If I was her I would get an estimate on how much rebranding would cost them and offer them a yearly lease at 1:20th of the cost. Sign a 5 year lease then up it by 50% every 5 years until they have to rebrand.

      Say it would cost them 1 million to rebrand. First five years 50K/year next 5 years $75K etc. the object is to string them along while extracting a steady cash flow that initially seems easy to reach. She could probably get 30 years of payments out of them netting over 5 million and still fuck them over in the end forcing them to rebrand.

      But I am vengeful that way.