I was in Jackson last night attending dinner when great news for our industry came from the capitol building. A bill concerning the sale of liened vehicles to scrap dealers passed both sides of the legislature with overwhelming support. How does this affect our industry? Well, if you have ever had a customer borrow money on a vehicle and then immediately go and sell the vehicle, without title, to a scrap dealer this new law will allow for serious criminal repurcussions.
In the past, many less than legitimate scrap dealers would knowingly purchase vehicles without titles and crush them immediately leaving little paperwork on the transaction. When confronted with what they were doing many of these illegitimate scrap dealers would just smile knowing there were very few legal options for the lienholders to pursue. Again, this new law changes all of that.
The Mississippi Title Pledge Association took a leading role in getting this bill passed but it had support from other industries as well. Most notably, it was supported by the recyclers association which is made up of the legitimate scrap dealers who operate in a professional and honest manner. This law just makes it much more difficult for the “underground” scrap dealers to operate with no fear of the law. — Luke
“If one does not know to which port one is sailing, no wind is favorable.” Louis Seneca
Great news!!!