There’s likely a portion in a finance contract, and probably in the retail installment sales contract, even for Buy Here / Pay Here dealers, that says that any particular remedy is not the exclusive remedy. Watch this video to learn what that means and why it is important. Below is a transcript of […]
The Holder rule says that anyone that holds a financial contract is liable for all of the actions that happened below them in the chain of the contract. This means that if a dealer commits fraud and sells the agreement to a finance company, the consumer can actually sue the finance company for the dealer’s […]
An indemnification provision in a dealer finance agreement is where the finance company is entitled to payment from the dealer in relation to any claims not related to the finance company’s activities. Watch this video to learn more and for some tricks when considering a contract containing an indemnification provision. Below is a […]
When a dealer sells off their paper to a finance company, most dealer finance agreements have a recourse provision that allows the finance company to demand that the dealer repurchase the deal if certain events occur. However, we often have defenses to repurchase demands and you may not have to give in to them! Watch […]
There are two different perspectives when it comes to car financing. One is the Buy Here, Pay Here, self-financing dealer that takes payments and runs the financing in-house, and the other perspective is the dealer that sells off their accounts to finance companies. Watch this video to learn how the quasi agreement plays an important […]
