Pledgecap/Collateral Partners rep Chris Coghlan PledgeCap Collateral Partners LLC Sold Dump Truck advertised as in great condition and truck was not operational and refused to reimburse wire transfer of money Lynbrook NY

I purchased a dump truck from Chris Coghlan a sales representative with PledgeCap/Collateral Partners LLC on 21 Nov 2018. Chris advertised the 2000 GMC C7500 Dump Truck on Ebay motors under the user name pledgecap. The truck was advertised with a Buy Now price of $8000 or best offer. Chris and I went back and forth on ebay bidding and prior to the auction ending 14 Nov 2018; we were not able to reach an agreement on the price but we were in the $6000-$7000 range. 

As the auction ended 14 Nov 2018 3:49 PM, we came to agreement on $6500. However, it was too late to do a buy now through Ebay and purchase through them. Therefore we did the transaction offline. Originally I was getting finance assistance form a Loan company in order to make the purchase and therefore the process would require more time to complete. Chris Coghlan was not totally agreeable with that process as he implied that I misled him into believing that the purchase would happen immediately.

In acccordance with the advertisement on Ebay I had 7 days to complete the purchase. Chris did provide the finance company with all documents required to do the loan but it was not a speedy process by the loan company. The loan company did not meet the 7 day window for the funds and therefore Chris contacted me inquiring that we needed to make payment arrangements as noted on the Ebay listing. I agreed to pay Chris Coghlan Pledgecap/Collateral Partners LLC $6500 through wire transfer from my Bank of America  account on 21 Nov 2018 and completed the wire at approximately 11;20AM/ET.

Due to Thanksgiving and the truck being located in Doral, Florida and my being in Albany, GA I was not able to get to pickup the truck until 28 Nov 2018. I contacted Chris prior to going down to Doral, FL to pickup the equipment to make sure everything was in order to get the vehicle. When I arrived I made contactwith his POC and was shown the vehicle. The first thing we noticed about the truck while walking up was the battery box was missing the battery. When we opened the hood we saw that the alternator was missing, engine turbo disconnected, engine wiring harness not attached and located on back seat, brake covers and drums rusted completely through and crumbling when touched.

The POC stated that the truck came to his site on a wrecker/flatbed and was never operational. I sent Chris pictures while we were there at the site with all the faults and informed him that the truck was not running. He informed me that he was not aware that the truck was not in great condition but would let me know what he could do after talking with his partners. He also asked me to take a look at some of his other trucks but I needed a dump truck. The following week I asked him to return the money but he has not reponded and I am in need of that cash to purchase an operational dump truck for my business.