Category: Corona Virus
Nextgear and AFC updates in Covid Time
We continue to handle a lot of floorplan defense lawsuits, defending dealers sued by Nextgear and AFC. They are still filing new cases even though the court systems have been slowed by COVID-19. In general, our perception is that Nextgear has been willing to work with us in recognizing the new reality of Covid-affected dealers. […]
Fears of “Death Trains” may support surprisingly robust COVID-19 car sales
There is speculaton that at least in some areas new and used car sales may be surprisingly robust even with business shutdowns and high unemployment due to the corona virus. I totally get why people might get concerned commuting by train or bus before there is a vaccination for COVID-19. https://www.thetruthaboutcars.com/2020/05/death-train-vs-safe-car-sales-hypothesis-gains-new-evidence/
CARES ACT – suspends 10% penalty on retirement account withdrawals up to $100,000
The CARES Act, which was adopted in response to the Corona Virus/Covid-19 crises includes some important provisions regarding your protected retirement accounts. Most people can withdraw up to $100,000 from the accounts without a penalty, and with an extended time to pay taxes that are due on the money. This should come in handy for […]
Nextgear, Automotive Finance Corporation and the Covid-19 Pandemic
Attorney Keith Hagan and I have been defending dealers from suits by Nextgear for over two years. Nextgear has been filing about 1,000 suits per year in Hamilton County, Indiana, and that’s in good economic times. Automotive Finance Corporation (AFC) has been filing quite a few less than Nextgear in Marion County, Indiana. We have […]