Automotive Finance Corporation

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New Jersey car owners titles are remade in Arkansas
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CARMEL, INDIANA -- Automotive Finance Corporation obtained Arkansas vehicle titles by claiming to have repossessed as many as 50 cars. However, the cars were located in New Jersey and driven by the owners.

The New Jersey Union County Prosecutor’s Office opened a criminal investigation while an Arkansas motor vehicle official says he assumed AFC had possession of the cars when it filed for title there.

The action in Arkansas, based on AFC’s claims of possession of the vehicles, has frozen state buyers out of holding title, even though the cars were never in Arkansas and were fully paid for by New Jersey residents. AFC obtained title after the cars were sold and after Galaxy Motors closed.

The New Jersey Motor Vehicle Commission has agreed to issue temporary plates to owners of cars purchased from Galaxy Motors. As many as 50 of the dealer’s customers may have been entangled in an automotive title disputes that left them unable to operate bring their cars out on New Jersey’s streets and highways.
     
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AustininDiego on 09/22/2009:
Automotive Finance Corporation repossesses man's paid-off trailer

MARYSVILLE, Wash. – One empty lot in Marysville doesn't look like much now, but until recently, it was Midtown Motors where Richard Vendl worked with the owner, which is why he left his trailer on the property.

Then about two weeks ago, it vanished. "I felt someone had stolen it," he said.
It wasn't really stolen.


Turns out Midtown Motors was going under and their bank, Automotive Finance Corporation, had a repossession company take everything.

Well, here's the problem: Richard Vendl owned his trailer outright and it was placed right there in the lot.

He has a clear title and so when he called the bank and said, "Can I have my trailer back?" the bank of course said, "no."

"I have documentation right here that shows that I'm the owner," said Vendl.

But despite having proof that the trailer is his, Vendl says Automotive Finance Corporation wouldn't turn it over.

This doesn't make any sense, so we contacted Automotive Finance Corporation.

They agreed the trailer really belonged to Richard and a few days later, it was delivered back to his home. He was surprised how quickly it happened after we started making phone calls.

By Jesse Jones KING 5 News March 18, 2009
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