used cars coming back to haunt you

[Alta]

http://www.msnbc.msn.com/id/28965129/?GT1=43001

I had no idea that when you traded in a vehicle, that it was possible for the bank to come back after you if the dealership goes bankrupt or doesn't make good on the loan. I mean it makes sense, but I've never traded a car in. Also apparently, if the dealership then sold you a used car, and went out of business, the original bank/lender may not yet have been paid off meaning they still have a lien against the used car you just bought because of the previous owner/tradein.

I mean couple this dynamic with losing by some estimates 50% of the current # of dealerships and it will be interesting...

[kiryan]

um was using Vena's computer.