Friday, November 12, 2010

So, if you wash bad car titles is the runoff called Lemonade?

Used car salesmen.

I'm surprised this doesn't happen more often.

Feds indicts 5 in car 'title washing'
By Guillermo Contreras - Express-News

“Wanna buy this beauty? It's got power everything, AC, sunroof — a real head-turner. What's that? Never mind the chipped paint on the bumper. It was just a fender bender.”

That's how federal authorities here characterize a rare case in which five people in three states were indicted on mail fraud charges related to “title washing” — disguising the title history of salvaged vehicles and “parts cars” so they can be sold as regular cars.

Salvage vehicles are rebuilt but the previous damage is equal to or more than their actual value. Parts cars and trucks are those whose cost to repair far exceeds their value.

The rest of the story: