Online, I found a company name Transportation Exchange. This is considered an Auto and Truck Brokerage company. They offered services that if you post your vehicle with them, within a short period of time the vehicle would be placed with a buyer. Of course, there was a contract involved! You actually have 2 contracts. One between you and the buyer and one between you and the broker (Transportation Exchange). The contract between you and the brokerage states that if the buyer doesn't make the monthly payment on time then the brokerage would make the payments until the car payments are made on time by the buyer. This was the reason for such a high Entry Fee of $6000 from the buyer. After two months, if the buyer did not pay, then the brokerage would reposes the vehicle and find another buyer.
For my case, the buyer paid his monthly payments on time for one year. Afterwards, he started to become delinquent with the payments. I followed the directions of my contract and contacted the brokerage numerous of times. The brokerage did not make any payments or made any efforts to repose the vehicle. I still have any outstanding balance on the vehicle and have not heard from Transportation Exchange since! They refuse to honor the contract.
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