American Credit Acceptance Tony Manwarren, Jeff McSwain, Mark Carswell, Carley Higareda, Karisha Sharp, Manheim Tony Manwarren, Jeff McSwain, Mark Carswell, Carley Higareda, Karisha Sharp Fraudulently clearing engine codes on remarketing cars Spartanburg South Carolina

American Credit Acceptance is clearing engine codes before sending cars to auction. Clearing engine codes before a sale is generally considered to be unethical when it comes to remarketing repossessed cars. By clearing engine codes, the bank would be hiding or covering up issues with the vehicle that the buyer should be aware of. This is not to say that it is illegal, but it is considered to be dishonest and is frowned upon by professional sellers.

When a vehicle is sold, the seller is typically required to disclose any known issues or problems with the vehicle. Clearing engine codes before a sale is a way of hiding such issues, which can lead to the buyer purchasing a vehicle that is in worse condition than they were led to believe. This can lead to problems down the road for the buyer, and can also lead to a loss of trust in the seller.

It's important to note that if a seller is found to have cleared engine codes before a sale, the buyer may have legal recourse to seek damages or compensation. Furthermore, the bank may also be in violation of any industry standards and regulations, which could lead to penalties.

It is advisable for the bank to disclose any known issues with the vehicle to the potential buyers, so that they can make an informed decision about the purchase. Being transparent about the condition of the vehicles being sold is the most ethical way for the bank to conduct their remarketing process.