ADA County, ID – 17 October 2018 – Title Loan company, Ideal Lending, LLC has filed a lawsuit in the Idaho Fourth Judicial District Court against an Idaho dealership named “Under the Influence, LLC” dba; “Stolen Auto Sales” for failing to pay the lender for the post repossession sale of a 2010 GMC Yukon Denali, which they also had repossessed for the lender. Yes, those are their names. I couldn’t make this up.
In the complaint, Ideal Lending alleges that shortly after the repossession of the GMC Yukon, Chris Teague, Sales Manager of Stolen Auto Sales, had agreed to liquidate the Yukon for $18,000 and that Stolen Auto Sales would be paid a $1,000 commission.
According to the complaint, “instead of paying Ideal the sales proceeds, the defendants kept the money and concealed the details of the sale and the whereabouts of the sale proceeds. When asked, Teague alleged that the reason Ideal did not have the money right away was because the individual purchaser’s bank was having difficulty wiring the funds to Ideal Lending.”
“In fact, the defendants had sold the Yukon at Crosspoint Auto Auction, an auction house that sells to dealerships, on May 15, 2018 for $15,000.00 minus a seller’s fee of $465.00. 18. Upon information and belief, Instant Equity Auto was the purchaser and ended up selling the Yukon for over $18,000.00.”
The complaint states that “Crosspoint Auto Auction immediately issued a check to Stolen Auto for $14,535.00, and Stolen Auto cashed the check two days later. When asked whether the vehicle had been sold at auction versus to an individual, Teague denied that the Yukon had been sold at Auction; Lynn Calvin, the managing member and registered agent of “Under the Influence, LLC” dba; “Stolen Auto Sales” however, admitted it had been sold but that Stolen Auto did not have funds enough in its account to pay Ideal.”
Ideal Lending, LLC’s attorney alleges in the complaint that as of the date of filing, Stolen Auto Sales had not paid Ideal the sales price of $14,500.00 minus the $1,000.00 commission and thus, the plaintiff has been damaged on account of the breach in the amount of $13,500.00 plus interest as well as $4,000 in reasonable attorneys fees.
Source: Courthousenews.com
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