Hudson is a partner in the firm of Hudson Cook LLP, publisher of Spot Delivery, and the author of several widely read compliance manuals. To illustrate classes we will develop a class that encapsulates information about vehicles, such as cars, vans, and trucks. So repeat after me: A loan is a loan, and an installment sale is an installment sale. Newsletter Automotive News Top News Most Recent. The court found that the waiver was valid and enforceable because it did not violate public policy. Now, Toyota is looking at potentially applying this technology to its vehicles, but challenges remain on that front. Visit, features the Detroit Auto Show, New York Auto Show, SEMA Auto Show and Spy Shots from today's hottest cars. In any event, Ambrose waived any right to notice under the terms of the personal guarantee. Because Advantage Funding was not a sales finance company, it was not subject to the notice requirements under the MVSFA. The court wasn’t buying what Ambrose’s lawyer was selling, finding that Advantage Funding was not a sales finance company under the MVSFA because it did not purchase a retail installment sale contract from a seller and was not engaged in the business of buying retail installment sale contracts.Īdvantage Funding’s security interest in the truck arose under the terms of a note. Bankruptcy Court for the Northern District of Georgia ruled for Advantage Funding. Advantage Funding filed a claim as part of Ambrose’s bankruptcy case, and Ambrose objected.Īmbrose alleged that Advantage Funding was a sales finance company and had violated the Georgia Motor Vehicle Sales Finance Act when it failed to give notice after repossessing the truck. A motor vehicle from outside of Alberta must pass an Alberta Out of Province Vehicle Inspection before license plates can be issued. Advantage Funding repossessed the truck after the bankruptcy court granted it relief from the automatic stay. Jennifer Ambrose, AISA’s owner, personally guaranteed the loan.ĪISC eventually defaulted on the loan, and AISA and Ambrose filed for bankruptcy. obtained a loan from Advantage Funding Commercial Capital Corporation that was secured by a truck. Here’s how that went.Īmbrose Industrial Services Corp. Based on their recent press releases regarding enforcement actions, we can add to the list of offenders the attorneys general of Delaware and Massachusetts.īut we aren’t done! Along comes a lawyer who was either blissfully ignorant of the distinction we keep harping on, or who knew the difference between the two terms but decided he might be able to put one over on an inattentive judge. These mods limit the usability of the vehicle while compromising ride and handling, but some people like the looks of it so much that they don’t really care about the drawbacks.We’ve criticized the Consumer Financial Protection Bureau on a number of occasions for the same mistake. Stanced cars may not be everyone’s cup of tea but they have a large following in Japan. The new set of aftermarket alloy wheels are shod in stretched tires with a hugely negative camber on both axles, especially in the white-colored Prius that is highlighted in the tuner’s gallery. While the tuner doesn’t mention any performance upgrades, the stronger brakes will definitely help the Prius stop a lot sooner.Īnd now let’s talk about the elephant in the room. T-Demand also upgraded the braking system with larger discs measuring either 355 mm (14 inches) or 380 mm (15 inches) and six-pot calipers. While the stock model’s higher ground clearance is more practical for daily driving situations, the car’s sleek aerodynamic silhouette and sharp LED lights make it an ideal candidate for this type of modification. A new air suspension module enables the Prius to lower itself remarkably close to the ground, creating a dramatic visual effect, especially when the vehicle is not in motion.
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