Good stuff. 9-320 allows the buyer to take free of the security interest where it would not have been able to do so if it were just a one-off deal. You probably know that, but this reinforces it.

9-320, 9-321 whatever it takes.

Yeah, I remember the whole BIOCOB thing, even though I can only remember half the elements. I just find it amazing that the secured creditor didn't have a better handle on what was going on. We've dealt with a couple of securitized mortgages (paying off the last one this year thank God!) and that lender was checking on us every single month.

You should live here in Lubbock. We had to endure his commercials nearly every other one. Arms flailing and yelling �Give us a shot!� I remember him when he was Gene Messer�s Toyota floor manager. Made me cringe whenever I even thought of buying a Toyota. The local news networks didn�t even carry the story during the 6pm news because a ton of their advertising $$ came from them and they wanted to substantiate the claims before they released it. It was listed on the news website but not televised until later on. I bet he won�t see a day in jail.

I represented a bank several years ago where the dealer had several floorplan lender and was giving them just enough original certificates of title to make them happy, and certified copies and copies the rest of the time, borrowing money from all 3 on the same vehicles, then leasing the vehicles and selling the vehicles. You just never know. Jail time on that one.

talk about a nightmare,I know of an instance where a guy bought a boat,paid about 1/3 down down in cash and financed the remainder...he moved out of town to a different state but kept making his payments to the bank...about a year later sheriffs deputy and repo man showed up and repossessed his boat....
turns out the dealer had never paid the bank the 1/3 down payment the guy had made...
guy actually ended up losing the boat because it wasn't worth paying the down payment money plus remainder of the balance due on the note...

No more commercials on The Ticket. This will make listeners happy.

If you've ever seen Bart Reagor in a commercial you would not be surprised that this has taken place. The guy just oozes with slimy body language in the way he acts in the commercials.
He always asks the viewers if the want to know a "secret." When this was reported on the news last night out of Amarillo my wife and I both died laughing. Everyone now knows the "secret!"

I have heard people say he's a nice guy, but I've always felt the more profound and obnoxious a car dealer's / manufacturer's commercial is the rougher the screwing is going to be on the buyer!

Try living in Lubbock..Ads are non stop..

Somebody gonna end up in a wood chipper.

Anyone remember Billy Sol Estes and his fertilizer storage scam? Same principal and the dude did big prison time. My first job in finance was with a large national company that loaned him a bucket load of money. Not long after being hired I was given the job of cleaning up the files as they were dated, old, and no longer needed. I kid you not there were two 4 drawer file cabinets full of nothing but his dealings with the company.

thats a great story
did Mike Cochran from The AP interview you?

Yep and I remember Robert Johnson Land and Cattle Company. One summer when I was in highschool I drove one of the 12 bulldozers he had leased to clear thousands of acres of mesquite pasture land he wanted to put into wheat production... quick.

https://www.timesrecordnews.com/story/mo...ndles/93154910/