NJ Dealers Say Nissan Saddled Them With Predatory Loans
Nissan North America Inc. and its financing arm forced New Jersey dealers into $20 million in predatory loans that financed an overabundance of inventory the car giant ordered them to carry amid corporate pressure to raise sales, according to a brief filed Tuesday in federal court.
Nissan sued the dealers in December 2018 seeking to recoup the loans, and the dealers have fired back with counterclaims accusing Nissan Motors Acceptance Corp. of breaching a deal that purportedly settled the debt. In a reply to Nissan’s bid to toss the dealers’ fraud counterclaims, America Inc., Infiniti of Englewood LLC, Elite Nissan of Bergenfield LLC, Hawthorne Nissan LLC and others refuted that waiver provisions in connection with their NMAC loans barred their fraud allegations under the New Jersey Franchise Practices Act.
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