Sunday, July 11, 2010

Red, White, and Scammed

Parade magazine: The used BMW was pretty, its silver paint gleaming, and the $17,000 price was reasonable. So, in March 2007, U.S. Army Spc. Diann Traina signed a contract, took out a loan, and traded in her pickup to buy the sedan at a dealership in Fayetteville, N.C., right outside the gates of Fort Bragg.

What she didn’t know was that the dealer had taken out a loan against his inventory and didn’t actually own the vehicle he sold her. Spc. Traina was never able to get the title to the BMW, so when the dealership shut down soon afterward, she was stuck—without a car and with an $11,000 debt. In the meantime, she had been deployed to Iraq, leaving her helpless to do much about it.

http://www.parade.com/news/2010/07/11-red-white-and-scammed.html

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