About The Consumer Law Office of Steve Hofer

Steve Hofer has been practicing consumer law in Indiana for more than 20 years. He is a former Indiana State Chairperson of the National Association of Consumer Advocates, a national organization of attorneys striving for fairness in the consumer marketplace. Contact me by phone at 317-662-4529 or via email at hoferlawindyATgmail.com. You can also leave a message through my website at www.hoferlawindy.com.

Thursday, November 15, 2018

Total Resource Auctions and Nextgear Repos

I talk to a lot of dealers who are shocked to find out how little Nextgear sells their cars for after the cars are repossessed by Nextgear.  I have had dealers tell me that Nextgear waits until the end of the auction to sell the Nextgear repos - after the majority of the bidders have gone home.  Then there is another possibility.  Mannheim Auctions has a separate division, "Total Resource Auctions"  that according to its website specializes in nondrivable and salvage vehicles.  If drivable repossessed vehicles are sold there, it seems a good case could be made that the sale is not commerically reasonable under the Uniform Commercial Code.  https://publish.manheim.com/en/services/unique-vehicles/salvage.html

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