Home » Articles » Uncategorized » Alert: American Car Center Titles Being Claimed By Consumers
One of the largest financial publications, Fortune Magazine, recently highlighted a major issue in the automotive industry: a subprime auto lender going out of business. This scenario often leaves buyers stranded without their vehicle titles, even after making all payments.
The Implications for the American Car CenterThe lender in question, American Car Center, had a $222 million bond sale that fell through. With 40 dealerships across 10 states and 288 employees at their headquarters, the scale of this closure is significant.
The Volume of Unissued TitlesConsidering each dealership potentially sells hundreds of cars monthly, the number of vehicles without titles could be staggering. With an estimated 20,000 to 100,000 cars affected, the title problem is widespread.
Navigating the Title CrisisFor customers affected by dealership closures, obtaining legal advice is crucial. Filing for a court order title or civil lien title is often necessary, especially considering the potential depletion of victim restitution funds.
Urgency in ActionPrompt action is essential to securing your vehicle’s title amidst dealership closures. With employees laid off and operations halted abruptly, waiting is not an option. Starting the process early ensures you’re at the forefront of resolving the title issue.
Addressing a Looming CrisisThe sudden closure of the American Car Center underscores the urgency of addressing title issues in the automotive industry. As customers face the risk of losing their vehicles due to unissued titles, proactive measures are necessary to safeguard their investments.
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