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December 13, 2011
11:00AM

The State (& Fate) of Spot Delivery Agreements in Ohio

As dealers know, Ohio law provides dealers the ability to "Spot Deliver" motor vehicles as long as there is a written document outlining the contingency of the sale, also known as the "Spot Delivery Agreement". Unfortunately, the newest trend in legal challenges to this practice is chipping away at your ability to spot deliver vehicles.

We know that many consumer advocates refer to spot delivery transactions as "yo-yo" deals. They believe that the whole premise of the "Spot Delivery" is to lure consumers into signing contracts under false pretenses. These types of "unfair and deceptive" cases have been popular with the trial bar for many years. Historically, dealers with the appropriate paperwork were successful defending these attacks.

However, in the last several years, plaintiffs' attorneys have developed a new line of attack. They are bringing these cases in federal rather than state court. With the re-emergence of Retail Installment Contracts (RISC) for financing, plaintiffs are arguing that a Spot Delivery Agreement violates the Truth in Lending Act (TILA). The argument by the plaintiff's bar is that the RISC and the Spot Delivery Agreement are inconsistent with each other because the RISC states that the dealership is the lender but the Spot Delivery Agreement states that the lending is contingent upon the dealer being able to assign the paper. Therefore the disclosures in the TILA box in the original RISC are not accurate if the cusomer re-signs another RISC containing different terms.

Unfortunately these cases have generally gone against dealers. It is imperative dealers understand how to best protect themselves. This webinar will discuss:
     •  the latest decisions in this area
     •  what types of forms should dealers be using
     •  best practices

Don't miss this important webinar. Spot delivery is evolving, and you need to know how to respond. Registration fee is $30 per connection for members, and $225 for non-member dealers. Register today!

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/464692442

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Add to Calendar aCLuDhaqizCaPxAftmqF167204 12/13/2011 11:00 AM 12/13/2011 11:00 AM true The State (& Fate) of Spot Delivery Agreements in Ohio As dealers know, Ohio law provides dealers the ability to "Spot Deliver" motor vehicles as long as there is a written document outlining the contingency of the sale, also known as the "Spot Delivery Agreement". Unfortunately, the newest trend in legal challenges to this practice is chipping away at your ability to spot deliver vehicles. We know that many consumer advocates refer to spot delivery transactions as "yo-yo" deals. They believe that the whole premise of the "Spot Delivery" is to lure consumers into signing contracts under false pretenses. These types of "unfair and deceptive" cases have been popular with the trial bar for many years. Historically, dealers with the appropriate paperwork were successful defending these attacks. However, in the last several years, plaintiffs' attorneys have developed a new line of attack. They are bringing these cases in federal rather than state court. With the re-emergence of Retail Installment Contracts (RISC) for financing, plaintiffs are arguing that a Spot Delivery Agreement violates the Truth in Lending Act (TILA). The argument by the plaintiff's bar is that the RISC and the Spot Delivery Agreement are inconsistent with each other because the RISC states that the dealership is the lender but the Spot Delivery Agreement states that the lending is contingent upon the dealer being able to assign the paper. Therefore the disclosures in the TILA box in the original RISC are not accurate if the cusomer re-signs another RISC containing different terms. Unfortunately these cases have generally gone against dealers. It is imperative dealers understand how to best protect themselves. This webinar will discuss:      •  the latest decisions in this area      •  what types of forms should dealers be using      •  best practices Don't miss this important webinar. Spot delivery is evolving, and you need to know how to respond. Registration fee is $30 per connection for members, and $225 for non-member dealers. Register today! System RequirementsPC-based attendeesRequired: Windows® 7, Vista, XP or 2003 Server Macintosh®-based attendeesRequired: Mac OS® X 10.5 or newer Reserve your Webinar seat now at:https://www2.gotomeeting.com/register/464692442 ----