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Most dealer agreements with indirect lenders such as Nationscredit, prohibit you from financing a unit that is on brokerage contract, consignment or otherwise not part of your inventory. If you offer to finance a brokerage unit you could be in technical violation of your contract with the bank. This could mean that the bank could force you to repurchase the contract from them. On a repossession, this would make the dealer liable for all expenses incurred in addition to the principle amount. |
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