Indeed, both testified that the “sale” agreement would be voided if Tyler repaid the loan

Indeed, both testified that the “sale” agreement would be voided if Tyler repaid the loan

Tyler testified that when he went into Rapid Cash on March 6, he payday loans Zanesville Ohio did not intend to sell his car, and in particular, he did not intend to sell his car for so little money. He explained that the car was in good working order. Tyler did not testify about the time agreed upon for repayment of the loan, nor did he testify that the loan was to be repaid with interest. Tyler testified that when Hampton came to pick up the car from his residence, Hampton assured him that if he repaid the money, he would get his car back. Again, Tyler did not relate a time period agreed upon for repayment.

Tyler stated that he understood that he was putting his car up for collateral for a loan, and that he would lose his car if the loan were not repaid

Tyler stated that on an unspecified date in late pton’s secretary at Rapid Cash called to ask him to come in and repay the loan. Tyler stated that when he went to Rapid Cash with the money, likely early in pton told him that the car had already been sold. Tyler testified that in addition to losing the car, he had several hundred dollars’ worth of tools in the trunk of his car that he did not recover.

Hampton testified that the term of the loan was two weeks from its inception

Orland Lloyd, used car sales manager at a local Toyota dealership, testified that a car like Tyler’s Camry would have been worth roughly $2,, the National Automobile Dealers Association (“NADA”) book retail valuation. The notary who notarized the sale agreement, sey, is in the used car business as well, and he testified at trial but did not see the car and did not offer a value for the car.

When Tyler was unable to retrieve his car, he filed suit against Rapid Cash, seeking the value of the car as well as damages under the Louisiana Unfair Trade Practices and Consumer Protection Law (UTPCPL). Continue reading “Indeed, both testified that the “sale” agreement would be voided if Tyler repaid the loan”