Car buyers beware ...if your car banker offers to advertise you auto allowance too!

Car buyers beware ...if your car banker offers to advertise you auto allowance too!

In Michigan dozens of consumers were the victims of phony sales of vehicle insurance policies at a Detroit-area car dealership, according to state regulators.

The Department of Insurance and Financial Services (DIFS) issued a cease-and-desist order last week to Camillo Anthony Monaco and Darrell Lees of Monaco Motors. According to the department, consumers bought cars after being told that the purchase would be “in conjunction with” no-fault insurance for the new vehicle while the dealership, Monaco and Lees were all unlicensed to conduct such business.

According to Charles Nguyen reporting for onlineautoinsurance.com, paperwork dated between Oct. 11, 2012, and Jan. 3, 2013, showed that at least 15 consumers bought cars from the dealership that listed GEICO as the insurer providing their no-fault policies, according to the DIFS. Apparently, they all thought they could get a good insurance deal providing they paid --cash only--- to Tony. (Does this sound like an episode from The Sopranos?)  

As always, the devil is in the details. The paperwork which was submitted to Michigan’s Secretary of State independent several inconsistencies pointing to the dealership as the client of the policies. Thirteen of the 15 behavior for those consumers were bought online from the aforementioned IP address, according to investigators, with 10 of those 13 advertisement the aforementioned email abode and four of those 10 application the aforementioned acclaim card.

Also, 12 of the action applications listed the fax cardinal board accepted to be the fax cardinal at Monaco Motors.

Fifteen added consumers bought cars from Monaco Motors amid Sept. 21, 2012, and Jan. 23, 2013, with those cartage listed with no-fault behavior from Progressive. Nine of those 15 Progressive behavior were bought online with the aforementioned acclaim card, admitting all were annulled after because of acclaim agenda fraud, according to the DIFS.

According to audio from Progressive’s Special Investigations Unit case on Monaco Motors, DIFS said, a customer told an investigator that he paid “Tony” at the dealership $700 in banknote for a car with the swear that “Monaco Motors would get allowance for him.”

According to the DIFS, any being or bureau affairs accurate car advantage is appropriate to affectation their authorization to advertise auto advantage in Michigan, and consumers should ask for it whenever they conduct business. Numbers and names on that authorization can be cross-referenced at the department’s website.

Obviously, it's not aloof a botheration that's different to Michigan. If it's legitimate, cipher is activity to assert on affairs you an allowance action beneath the action of 'cash only'. And best importantly, be abiding you're affairs allowance from addition who is absolutely accountant to advertise it.

DIFS Director Kevin Clinton said in a account that consumers who purchased the adulterated allowance should acquaintance his appointment at (877) 999-6442 if they accept any questions apropos whether their allowance is appropriately licensed.

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