I had a truck financed with GMAC and it was at the dealer for weeks with a bad transmission. GMAC had agreed to a substitution of collateral, but the selling dealer refused. The truck was repossessed while I was making payments.
We went to court and the judge ruled that by repossessing the truck while I was making payments they forfeited there right to any restitution. Almost a year had passed and I had bought another truck. When this one is paid off I have been advised to take them to arbitration.
The arbitrator is going to require GMAC to put me in another vehicle. Has this happened to anyone else?
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