Next Gear Capital are crooks
Complaint
Robert Di Giorgio
Country: United States
I need to hear from as many dealers affected by Next Gear Capital's illegal practices. WE are trying to convince a lawyer to sue Next Gear for fraud and dishonest dealing. Several of us have had a business ruined by the crooks and now its time they pay up.
Please contact Robert, my email is 2radsr@gmail.com
Please contact Robert, my email is 2radsr@gmail.com
Comments
408-417-6090 help!!!
I'm not sure what US insurance laws ie Collateral Protection are in the US but they are not licensed to sell insurance in Canada
There are a lot of unconscionable terms in the contract as well.
If you read through paragraph by paragraph ...
This is not to constitute as legal advice simply something to look into further with your lawyer. Just things I found.
Resume:
15 Year of Executive Level Banking in the Auto Finance Sector
2 Years as a licensed car dealer mainly focused on learning the opposite side of this industry for future personal career growth
Extremely current on compliance and collection laws
Learning regulations against collusion and price fixing
Beginning to reach out to politicians and Government Agencies
Im not sure I feel like going through the years of fighting in court, In this case, Id rather just be a rat and turn them over to the government and media outside of Cox Media. Some rookie could make a name for himself with these guys.
DON'T FOCUS ON NEXT GEAR - FOCUS ON COX ENTERPRISES, ANTI TRUST LAWS, RED FLAGS OF COLLUSION WITHIN OTHER AREAS OF COX,
If you want them the sting, buy a repossession from a large fleet seller that has customer information inside the car still. Turn the personal information over to the customer who had the car repossessed and watch them hug you when an attorney catches wind of that. The ones with banking and medical information will really bite them in the ass.
They have made it difficult to sue and have suckered every customer into signing a contract that waives your rights to sue, but OMG, if you want to bring them to there knees like they do to others, look for the signs. Meridian, KBB, Manheim, DealShield, Next Gear, Dealer Track, Dealer Track Title Solutions, OVE....... Watch it all and youll find whatever you need.
If there is typo's, sorry, I hate typing but its worth it when it comes to this organization.
Hudsonvalleyimportsllc@gmail.com
Just in case you don't have your contract handy. I've listed 2 of the major terms I read and realized this was NOT for me.
2A and 2B
GRANT OF SECURITY INTEREST. In order to secure full and prompt payment of all Liabilities and performance of all obligations of Borrower
to Lender, its Affiliates, and/or their respective successors or assigns:
(a)
Borrower grants to Lender a continuing security interest in all of Borrower’s assets and properties, wherever located, including, without limitation, all equipment of any kind or nature; all vehicles and vehicle parts; all Inventory now owned or hereafter acquired, including, without limitation, all Lender Financed Inventory now owned or hereafter acquired; all amounts in Borrower’s Reserve held by or on behalf of Lender, if any; all documents, documents of title, deposit accounts, accounts receivable, manufacturer rebates and incentive payments,
chattel paper, including, without limitation, all Receivables and general intangibles now owned or hereafter acquired by Borrower; all cash reserves; all of Borrower’s books and records (including any books and records contained on computer hardware or software or otherwise stored by or on behalf of Borrower in electronic or digital form); and all additions, accessions, accessories, replacements, substitutions, and proceeds of any of the foregoing (collectively, the “Collateral”).
(b) The security interest given to Lender in Section 2(a) is given to Lender to secure payment of all Liabilities and the performance of all obligations of Borrower to Lender, and its Affiliates, including all obligations of Borrower under this Note, under any other Loan Document, or otherwise, all without relief from valuation or appraisement Laws.
22A - CLASS ARBITRATIONS
AND CLASS ACTIONS OF ANY KIND (WHETHER PURSUED THROUGH ARBITRATION OR THROUGH THE COURTS) ARE NOT PERMITTED. BORROWER AGREES THAT IT MAY BRING CLAIMS AGAINST LENDER ONLY IN ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. BORROWER AGREES THAT, BY ENTERING INTO THIS NOTE, BORROWER IS WAIVING ITS RIGHT TO PARTICIPATE IN ANY CLASS ACTION OR OTHER SIMILAR REPRESENTATIVE PROCEEDING. UNLESS CONSENTED TO IN WRITING BY LENDER, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS, AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING. BORROWER ACKNOWLEDGES
AND AGREES THAT THE SIZE OF BORROWER’S CREDIT LINE, THE INTEREST RATE TO WHICH ADVANCES ARE SUBJECT AND CERTAIN FEES CHARGED TO BORROWER, AS WELL AS THE SIZE AND DATES OF SPECIFIC ADVANCES, ARE UNIQUE TO AND NEGOTIATED BY BORROWER, AND THAT SUCH FACTORS WILL AND DO VARY AMONG BORROWERS.