Check out this article.. Many people who bought cheap lambos are going to be loosing them very soon with no refund! Also, many dealers who purchased these cars from Lambo OC are trying to off them quick on ebay at below market values... When it seems to good to be true it is!!! The economy is bad and we all know it, but not bad enough for 08 Superleggeras to be going for $155k (retail)... 08 Spyders for $135k (retail) and 08 LP640's for high 200's (retail)..

Dealers all around the country have been sent a list of 46 VIN #'s from VW/Audi that require the dealer to repo the car immediatly if one shows up at a dealer for service or any other reason and the owner is out ALL $$$'s... A huge legal mess it will be trying to get your car back or the $$$ you spent, most likley with no luck on either...

http://ocbiz.freedomblogging.com/200...on-theft/8100/

Be careful guys!

 

Why are the buyers out of their money? I didn't see that part in the article. Seems like the dealer committed the tort, not the buyer, no?

 

The dealer (Lambo OC) is out of business... He closed up shop in the middle of the night and ran off with 12 million.. Do you think you will see that $$$ again? You would have to get in line behind Volkswagon, Floorplan/finance companies, banks, ect... for your money... You will have to hire your own attorney and file your own lawsuit..

The buyers purchasing the cars now from other dealers (who purchased the cars from Lambo OC) for cheap money are not being allowed to register the cars.. The VIN #'s are being flagged... Also, if one were to be registered now, the VIN is flagged at the local lambo dealer to repo it when you bring it in for service.. If you dont loose it now, you will...

 

I guess this is the part I don't understand/agree with. If I, the buyer, paid Lambo OC 110K for a new Gallardo, and they took my money and gave me the car and as far as I knew, it was legit since Im not the one that has the contract with VW, the dealer does. Why would the buyer loose his car/and money when "as far as I can see" he/she didn't do anything wrong. It seems that the liability is with the owners of Lambo OC, I can't fathom why the people who purchased these cars in good faith are getting the short end of the stick when they did everything they're supposed to do. Is it the buyer’s responsibility to call VW and make sure the dealer is selling the car at a price it's supposed to? I agree the owners of Lambo OC are in deep trouble, I just don't see why the innocent buyers have to pay the consequences.

 

Again, the VIN #'s are being flagged in the DMV systems and "stolen" cars.. People arte trying to register the new cars and cant. The floor plan companies/VW still own the cars... They were never paid for them.. They have 1st rights to them regardless if they were sold to an innocent buyer or not... Also, VW is and or will claim that no one was an innocent buyer here when a 250k NEW car with "0" miles is sold for 150k... You are talking about a new car that is selling for 40% less than MSRP at only 1 dealership in the country (Lambo OC) and every other dealership has them marked higher... No legit dealer is going to sell these cars way under invoice or for a huge loss like this unless something fishy is going on..

At the end of the day, you may or may not loose your car. BUT you will loose it for a while and spend lots of $$$ in a legal mess.. EVERY Lambo dealer in the country has been given the list of 46 VIN #'s... They are being REQUIRED by VW (Who owns Lambo) to repo any of the 46 cars immediatly.. So, no matter what - you would be fighting in court to get it back... By the time you come back to pick up your car from the dealer for service, it will already be on a flat bed and repo'd... (This info came from a Audi / Lambo dealer)

 

I do agree with you though, the new owner should not get screwed but it looks like it will happen.. I am NO Lawyer or have any law experience (I pay $500/hr for that ).. I would like to hear from a lawyer on this board and hear what he/she thinks about all of this.. As the details start to come out in the next couple of weeks, it should be interesting!

 

If you paid cash for the car and have title I don't see how you could have it repo'd.

 

what a legal mess. thats horrible.

 

problem is when u buy it with cash & thought u will get the title in mail. then the title never shows up...

u rarely get the title when u take the car home anyway. it comes in mail weeks later.

 

I paid cash for my lamborghini and had the title in hand...i wouldnt have bought it if I hadnt seen the title, furthermore, how did any bank loan money against those cars without title?

 

i thought dealer holds MSO(new cars never get titled). it doesn't get to transfer to title until they send the MSO to DMV. u get the title from DMV. not from dealer. correct me if i'm wrong?

 

title does come from DMV and it does take some weeks but assuming you have it in hand I still dont see how VW can come after the owner, VW's issues are with the dealer. Im no lawyer but having a hard time grasping how your car with title can be repo'd.

 

I agree that in the long run VW will have a hard time repo'ing these cars and keeping them. I run a title business and the MSO is in fact "a title", or is the first ownership document issued by the manufacturer to the selling dealer. It was most probably even imprinted with Lambo OC on the front of the MSO. The MSO is signed over to the customer, who then takes it to his/her state's DMV to transfer to state title and pay taxes, tags, etc. The MSO is a legal ownership document between the seller (Lambo OC) in this case and the buyer. VW has no stake in that transaction. VW will have to sue Lambo OC. If VW was truely worried about their financial interest, they would have themselves branded as lienholder on the MSO, which rarely ever happens because then the customer would be forced to record such lien even if they paid cash for car.

If a Lambo dealership repo'd my car for this, I'd be slapping them with a suit. VW did not adequately ensure their financial interest was secured, and will therefore have to bite the bullit or sue Lambo OC. It would be no different than Lambo OC's landlord trying to stake claim to title of 50 Lambo's because the owner's did not pay them rent. VW has no contract with the buyers and the property was not stolen from them. It was owned by Lambo OC without security. VW's fault.

Of course, it will not stop the **** from flying everywhere until the wonderfully incompetent legal system we live under sorts all out. Id wouldnt take my Lambo for service to a Lambo dealer if it were me and I'd find a way to get title and tags. Hint hint...in a VIN sometimes a B looks like and 8 , a U for a V, maybe a O or and 0. More than one way around it.

 

There is no way that VW/Lambo can take the car IF the buyer has a bill of sale and proof they paid for the car. I almost went through the same thing in FL DMV as the bank pulled the dealers credit line the day after I bought the car. The title never got transferred as the dealer didn't have the title, the bank who pulled the credit line did.

Me as the consumer wasn't aware of this until I found out about the repo men at the dealer the following day. I called and spoke with the DMV and they said it really doesn't matter since I bill of sale signed by the dealer and proof I paid for the car. I would get to keep the car and the bank would have to go after the dealer and there insurance. The DMV would just issue me the title with a little paperwork....Otherwise all dealers have 30 days to transfer the title to you, how do you know that they did transfer the title and didn't skip town with the money and screw the average consumer? It is setup so the state's DMV/Bank giving credit line- would go after the dealer and let the consumer walk with the car or the consumer would have to what 30 days before he drove a car that wasn't really his to make sure the title was transferred to him?

FORTUNATELY, the dealer worked itself through the bank and got it's credit line back a couple days later. I got the registration for my car and all is was good. Same **** though just not a $250k lambo.

 

What a mess...

Maybe they are trying to get cars back as the situation is being treated like stolen property. Let's say you go to "Best Gizmos" and purchase a DVD player that happened to fall off a truck, even though one paid plus received a receipt - the goods are still stolen.