Vibbert v. Par

On June 6, 2001, the Vibberts purchased a 1989 Mercedes Benz from G.S. Motor Sports, Inc.(G.S.) for $9,500. They traded Sandras 1998 Nissan Altima and G.S. gave them a trade-in allowance of $10,000. G.S. agreed to pay the loan balance of $9,367.95 owed on the Altima to Wells Fargo Bank (formerly Norwest Bank El Paso N.A.). The balance of the trade-in allowance, $632.05, was applied to the purchase as a down-payment. A few days later, G.S. sold the Altima to Michael and Rhonda Kuwamoto for $10,997.48. The Kuwamotos financed the purchase through Zoom Lot Funding, an entity of Cygnet Dealer Finance.