If you do buy a new car make sure the dealer pays off your trade-in or you are fecked

[NNN0LHI]

I have seen a few articles about this scam lately and didn't realize how prevalent it was. Your credit can be destroyed by one of these crooks.

Don

http://www.theledger.com/article/20081218/NEWS/812180279/1410?Title=Auto_Dealer_Holley_Arrested_Charged_With_Fraud__Theft

Auto Dealer Holley Arrested Charged With Fraud, Theft

By John Chambliss

THE LEDGER

Published: Thursday, December 18, 2008 at 9:58 a.m.

Last Modified: Thursday, December 18, 2008 at 3:55 p.m.

LAKELAND | Michael Randall Holley, one of the most prominent car dealers in Lakeland, was arrested when he arrived at work on Thursday and charged with bilking $440,000 from customers by not paying off their trade-in vehicles.

Holley, 47, of Collins Lane, was charged with 26 counts of grand theft, 10 counts of unlawful subleasing of a motor vehicle and scheming to defraud, according to a State Attorney’s Office affidavit. He was being held in the Polk County Jail on $487,500 bail.

According to a 13-page complaint affidavit, from July to September Holley also took $555,000 from business accounts and deposited it into his personal account.

The investigation also revealed that in September he transferred $156,449 to various real estate holding companies, the affidavit said. Investigators are unsure where that money is now.

Holley operates a Chevrolet and Kia dealership on Bartow Road just south of Lakeland High School.

Holley has built his image over the years as an extravagant businessman who runs with prominent people. A big supporter of the Republican party, he has thrown fundraisers for U.S. Rep. Adam Putnam and for former Senator Fred Thompson during his presidential campaign.

[sellitman]

1. Another Republican criminal.

Color me shocked.

[Nickster]

2. Sounds like Fargo, they better check his wood chipper.

[Mugweed]

3. Ah, those Florida Republican criminals.

Par for the course down here. I'm still having trouble understanding why someone would purchase a new car when they still owe money on the car they presently own. Doesn't anyone understand that "we'll pay off your old car" means "we'll add what you owe on your old car, plus an extra percentage for our troubles, to the cost of your new car"? As much as I hate a dishonest businessman, stupid people don't help the situation at all.

[supernova]

4. My uncle was the type

who would buy a new car every 2-3 years. And I mean Caddies, Lincoln Town Cars.

I never quite understood how he afforded it on his Boiler room salary.

[lpbk2713]

5. I never get tired of seeing RWers dressed in orange.

... and the bracelets accent the ensemble very nicely.



:rofl: :rofl: