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Law Firm Trolling for Vehicle Financing Litigation Business

October 30, 2000

In an ominous sign pointing toward possible extensive future litigation regarding dealership F&I markup practices, the law firm of Wechsler, Harwood, Halebian & Feffer LLP of New York is soliciting vehicle financing litigation on what they term "deceptive vehicle financing practices" in a Business Wire press release dated Oct. 30.

Some industry analysts believe this scenario may be repeated over and over as more law firms see a potentially lucrative area and jump on the vehicle financing litigation bandwagon.

The release, directed at recent vehicle buyers, says "We are working with a group of attorneys across the country regarding improper vehicle financing who have already commenced litigation in certain states and seek persons in the New York-New Jersey-Connecticut area who financed the purchase of a vehicle through Chrysler Credit, Ford Motor Credit, General Motors Acceptance Corporation, or Toyota Credit.

"The potential lawsuits in which you may join are based in part, on the theory that these vehicle finance companies -- in cooperation with the dealership from which you purchased your vehicle -- charged you a higher interest rate than that for which you actually qualified. The lawsuits have alleged that the dealership, in turn, receives a portion of the extra amount that the finance company earns from the higher interest rate charged to you. The result of this alleged conduct is that you, as the consumer, are paying (or paid) a higher monthly payment than that which you deserve.

"If you want to have your interest represented in this suit, or if you have any questions concerning this matter, please contact Samuel Rosen at the law firm of Wechsler Harwood Halebian & Feffer LLP, at srosen@whhf.com or, toll free at (888) 935-7400."

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