By: Robert J. Nahoum The Federal Truth in Lending Act (TILA) is a federal law that was enacted in 1968 to protect consumers from unfair and deceptive lending practices. TILA applies to a wide range of consumer credit transactions, including car loans. One of the key provisions of TILA is the requirement that lenders disclose certain information to borrowers before […]
How the Federal Truth in Lending Act Protects Car Buyers
How Signing An Auto Sales Contract May Allow an Auto Dealer to Get Away with Fraud
By: Robert J. Nahoum THE PROBLEM You’ve decided to take buy a new car. Like most people, you don’t have enough cash on hand to buy the car outright so you are planning to finance the purchase of your new car. You get to the dealership, find the car you want and negotiate a price. You step into the finance […]
Are Rideshare Cars Like Uber and Lyft Protected by the Truth in Lending Act?
By: Robert J. Nahoum THE PROBLEM You’ve decided to take the plunge and buy a new car to be used as a Rideshare like Uber and Lyft. Like most people, you don’t have enough cash on hand to buy the car outright so you are planning to finance the purchase of your new car. You get to the car dealership, […]
Must an Auto Dealer Disclose a Vehicle’s History?
By: Robert J. Nahoum If you’re shopping for a used car, you may be wondering whether a dealership is required to disclose if the car has been in an accident. The answer is, as with most things, it depends on the circumstances. Under New York law, dealerships may be required to disclose information about a car’s history if that information […]
What Is the Truth in Lending Act in Auto Sales
By: Robert J. Nahoum THE PROBLEM You’ve decided to take the plunge and buy a new car. Like most people, you don’t have enough cash on hand to buy the car outright so you are planning to finance the purchase of your new car. You get to the car dealership, find the car you want and negotiate a price.  Now, […]
Sued By Clover Commercial Corp In New York or New Jersey?
By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint. Clover Commercial Corp is suing you for an old debt. WHO IS CLOVER COMMERCIAL CORP?: Clover Commercial Corp is an infamous “sub-prime†auto lender in the New York metropolitan area. Clover Commercial Corp makes loans to consumers for the purchase of automobiles. As a […]
Sued By East Coast Funding Group, Inc. In New York?
By: Robert J. Nahoum THE PROBLEM: You have just been served was a summons and complaint. East Coast Funding Group, Inc is suing you for an old debt. WHO IS CYPRESS FINANCIAL RECOVERIES, LLC?: East Coast Funding Group is a sub-prime auto lender financing the purchaser of new and used vehicles by consumer with bad credit. When the consumer default […]
What Are Private Attorneys General?
By: Robert J. Nahoum THE PROBLEM: In each state, the protection of consumers from unscrupulous businesses is left in the hands of the Attorney General. However, because they have limited budgets and are elected officials subject to the political whims of the day, Attorneys General are not capable of addressing each instance of commercial wrong doing. THE RULE: To ease the […]
Brand New Cars Can Be Lemons Too
By: Robert J. Nahoum Is there any consumer purchase more intimidating then buying a new car? You enter the show room and read those signs in the windows of the cars about fuel mileage, the number of cylinders, the suggested retail price and of course the warranty.  But how could you ever know if that warranty is sufficient to protect you. […]
Buy a Used Lemon?
By:Â Robert J. Nahoum In these days of belt tightening and budget cutting more and more people are foregoing bright shiny new cars for ones perhaps a little less new and with a bit less luster. Â Here in New York, I am seeing measurably more older cars on the road then I have before. Â But delving into the used car market […]