Public Roundtables: Protecting Consumers in the Sale and Leasing of Motor Vehicles, Project No. P104811 #00011 

Submission Number:
Raymond Ingalsbe
Raymond G. Ingalsbe, P.A.
Initiative Name:
Public Roundtables: Protecting Consumers in the Sale and Leasing of Motor Vehicles, Project No. P104811
Virtually my entire practice consists of automobile financing fraud, particularly "yo-yo" ("spot delivery" say the dealers). It is endemic in Florida and most other states (I have had cases in Ohio, Kentucky, and Indiana). In my estimation it is the most profitable dealership practice despite its illegality, resulting literally in billions of dollars to these predatory dealers at the consumers' expense. Money isn't the only damage sustained by consumers. Their credit is damaged and they often lose their only means of transportation, andd then cannot purchase another vehicle from a decent dealer because of the previous yo-yo. I am told that the FTC is not placed on notice of yo-yos when they occur, but that is because consumers and consumer lawyers are (or weren't) advised that this could or should be done. There is a collective ignorance about such things. Henceforth I will report each case that comes to me, and I will encourage other lawyers to do the same. If the FTC would like my list of cases and a brief summary of each set of facts, please advise. I will try to attach a legal memorandum that I prepared a few months ago. Everything in it is true and accurate, as I have been arguing against yo-yos for the past ten years and my research and argument have greatly evolved. They're even better as of today. Suffice it to say that yo-yos amd "spot deliveries" are grossly illegal as violations of the TILA, FCRA, ECOA, and state UDAP statutes. Please understand that such yo-yos occur a million times each year across the country, and the poorest, least sophisticated consumers are the victims. Target demographics include minorities, women in general but the elderly especially, young buyers, and other people who are obvious unsophisticates. It never happens to white males between the ages of 35 - 65, because they are more likely to consult with an attorney. I request that the FTC list yo-yos among the primary abuses by motor vehicle dealers in the states that have not specifically declared them illegal. TILA already makes them illegal, but even consumer lawyers do not understand that. Those lawyers do not employ the most basic rules of contract and statutory construction, i.e., if the language is clear and unambiguous then the plain meaning of the words trump any alternate construction.