The Milwaukee Journal Sentinel recently reported that the Wisconsin Division of Motor Vehicles received about 450 complaints in 2008 of used vehicle dealers failing to turn over titles to buyers after a car is purchased. That number is nearly double those reported in 2007.
Another major complaint is from car buyers who unknowingly get stuck with debt. Dealers are failing to pay off loans on trade-ins and selling vehicles with existing liens.
Experts attribute the increase in complaints to vehicle dealers strapped for cash because of the economy.
Check out the full story here.
The Internet has certainly made some things easier.
But it has also presented many new challenges.
Chad Brown sold his vehicle to Car Cannibal in Oklahoma City in October. He found the business on-line after searching for options to sell his vehicle. Going in to March, he has yet to receive payment for it.
I understand Brown’s plight, and so does the owner of Car Cannibal, according to his remarks below.
It took several phone calls and emails to finally get comments from the business owner, but when he finally contacted me through email, he told a side of the story we wouldn’t have otherwise known.
There have been many problems over the last two to three years with my business and I take full responsibility for those issues. I am committed to completing this and have put everything I have into it. I am unsure how a story will us affect us now …a more appealing story could read how a struggling small Oklahoma business pulled itself out of turmoil despite economic uncertainties.
But anyone can learn from Chad’s story. Do your homework, especially if you are doing business with a company that isn’t nearby. Also, check the Better Business Bureau and see if there are local agencies that regulate the business.