In the course of doing some research this week, I discovered that Indiana is one of only three states that does not require automobile dealer’s to post a bond of some kind. See, look for yourself by clicking here.
Being in the minority isn’t always a bad thing; sometimes Indiana is progressive. But I don’t think that’s what is going on here.
A bond, from my perspective, is a guarantee that my client who wins a lawsuit against the dealership will be able to collect at least some, if not all, of the judgment. Indiana consumers, unfortunately, have been left unprotected in this area. Unfortunately, I’m not sure why. Has it simply slipped through the cracks? Has the dealers’ lobby been successful in stopping the legislation? I don’t know.
It’s the corner car lots, the ones that may not be able to pay your judgment, where having a bond could matter.
I think I’m going to try to find out why Indiana auto consumers are less protected than consumers in almost every other state.