A blog covering legal topics and whatever I feel like posting. Some posts on this page could be considered to be attorney advertisements.
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.
Showing posts with label total resource auctions. Show all posts
Showing posts with label total resource auctions. Show all posts
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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