JD Byrider - CNAC Finally, a Landmark Settlement Against JD Byrider! ripoff Louisville Kentucky

JD Byrider customers are tired of being taken advantage of by the company. The Kentucky Attorney General listened and delivered Major Damages to the Louisville, KY store and the Corporate Franchisor. This can set the trend for lawsuits around the country. This company can be stopped! $7.4 Million will get a lot of attention.

Attorney General Stumbo Announces $7.4 Million Settlement with Louisville J.D. Byrider and Corporate Franchisor

FRANKFORT, KY (January 31, 2006) Attorney General Greg Stumbo today announced a settlement with J.D. Byrider of Louisville and J.D. Byrider Systems Inc. of Carmel, Indiana in a consumer protection case filed in December 2004 in Jefferson Circuit Court.

Under the agreement, which has been tendered to Judge Stephen Mershon for approval, J.D. Byrider will provide restitution to consumers as part of a settlement package totaling more than $7.4 million.

As your Attorney General, I am fighting for all consumers, Stumbo said. This record setting deal shows that no one can take advantage of Kentucky's consumers.

The terms of the agreement require J.D. Byrider of Louisville to make restitution to all consumers who purchased a vehicle from the Louisville franchise during a five year period, from January 1, 2000 through December 31, 2004. It is estimated that more than 14,000 consumers purchased vehicles from the Louisville location during this period. This restitution will be in the form of checks to consumers who have paid off their vehicle loans and in the form of individual account credits for consumers with pending Byrider loans. It is expected that each consumer will receive approximately $500 through a check or an account credit. Both defendants have cooperated with the Office in resolving this lawsuit.

The Complaint filed by the Attorney General alleged numerous violations of the Kentucky Consumer Protection Act, including the use of a sales and financing program in an unconscionable manner to prey on vulnerable consumers; improper disclaimers of implied warranties and the failure to honor such warranties; refusal to allow or recognize consumers' revocation rights under the Uniform Commercial Code; false and misleading statements regarding the condition of vehicles by representing vehicles to be inspected or certified; and violations of the federal Truth in Lending Act.

In addition to consumer restitution, J.D. Byrider must comply with specific provisions regarding all future sales at any Byrider franchise or store in the Commonwealth of Kentucky, including requirements such as:

-maximum retail prices are established in writing for each vehicle and these prices are disclosed upon inquiry by a consumer
-the posting of information and other written authorizations which make it clear that credit life insurance is a voluntary addition to any sales contract and is not required for the extension of credit
service agreements or warranties comply with all applicable state and federal laws
-implied warranties are not improperly disclaimed through an As Is clause
-deductibles are not charged for repairs that would be covered under an implied warranty
-retail sales contracts comply with the Truth In Lending Act
-vehicles may not be advertised or represented as inspected or certified unless steps have been taken to inspect vehicles and a list of inspected components is made available to consumers upon request
Attorneys in my Consumer Protection Division have worked tirelessly in order to obtain relief for Kentucky consumers affected by J.D. Byrider's practices in Louisville, Stumbo said. My Office has also implemented measures designed to protect future consumers.

The Attorney General's Consumer Protection Division will be mailing letters to Louisville Byrider customers with instructions regarding the steps to obtain their restitution. Instructions for consumers are available here, or consumers may call 1-877-919-9923 or email byrider.settlement@ag.ky.gov

Consumers wishing to purchase used vehicles can protect themselves by following these guidelines:

Ask friends, relatives or co-workers to recommend businesses.

Check with your local Better Business Bureau or the Attorney General's Office to find out if there are unresolved complaints about the dealer.

Do your homework before you go regarding the approximate price range for a particular vehicle model and year. Several internet sites offer information on blue book prices.

Once on the lot, be sure you know the exact price you are paying for the vehicle, and the total amount you are financing. Other details to know include the finance charge (the amount the credit will cost you), the APR, and the number and amount of your payments.

You have a right to have the vehicle inspected by an independent mechanic, at your cost, before you buy.
Get any promises in writing, even for minor repairs or adjustments.

Review the Buyers Guide that must be posted on each vehicle for information as to whether the vehicle is sold As Is or with a warranty, and for details regarding any warranty.

Find more tips on the Attorney General's Website by clicking here.

Kevin
Orlando, Florida
U.S.A.

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