NH Auto Dealer Sentenced Over Extended Warranty Scheme
Concord, NH (AP) — A New Hampshire auto dealership manager has been sentenced to pay at least $50,000 for taking money from consumers for used cars and failing to transfer the funds to a provider offering extended service contracts or warranties, according to The Associated Press.
Edward Walter of NHCars.net in Hooksett pleaded guilty in January to charges of theft by misapplication. He received a suspended sentence of 1 ½ to three years Thursday.
He can keep operating NHCars.net under a revised business plan that requires auditing.
Foster said in addition to taking money meant for the extended service provider, Walter also offered an “in-house” warranty by charging a fee in exchange for his promise to repair the consumer’s vehicle. However, he was not registered with the state Insurance Department and didn’t demonstrate financial responsibility, as required by law.
More Industry
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →