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    Wrong Answers Only: What To Do if You Traded In Your Car to Fisker but Was Never Collected

    Wrong Answers Only: What To Do if You Traded In Your Car to Fisker but Was Never Collected

    Fisker’s bankruptcy has led to a strange situation for one of the Ocean owners. He traded in his old Volkswagen for the electric SUV, but the ailing startup never came to collect the vehicle. Now he’s wondering what he can do with his old car, and the internet is not short on solutions.

    Fisker filed for Chapter 11 bankruptcy protection in June and is now liquidating its assets to pay the creditors. While Fisker investors might have taken a hit, they are well prepared to sustain a loss, especially as investments are never guaranteed to pay off. However, Fisker Ocean owners are the most affected by the bankruptcy, considering that their vehicles have lost almost all resale value. Moreover, finding parts to repair their cars is impossible, and Fisker can provide no warranty or after-sales support.

    However, somewhere in the US, a Fisker Ocean owner might be in a far better situation than most. He traded in his old vehicle to buy the Ocean, but Fisker never came to collect it. He’s asking for advice on Reddit (poor decision, don’t do that) on what he can do with the old car since it’s taking place in his driveway. The replies he got are interesting, showing that Fisker owners haven’t lost their sense of humor despite the dire situation everyone is in.

    “If Fisker calls you to pick it up, put them on hold for four hours and then hang up” sounds hilarious, but it might not get you very far. Those bankruptcy lawyers have a terrible reputation. Others suggested keeping the car as a pre-provided loaner for when the Ocean would need servicing. Or when it would not be drivable anymore, which is a real possibility now that no one is providing support.

    That’s great until you consider the legal implications. How can you do it without finding yourself neck-deep in trouble? Even if Fisker never recovers from bankruptcy, there’s a good chance that a creditor buys your trade-in at auction or receives it as part of their payout.

    Another user in the Fisker sub-Reddit suggested that the owner drive his old car every day until claimed by Fisker or others. At the same time, he should place the Ocean in storage or even sell it. In this case, the owner said his trade-in had engine problems and couldn’t pass inspection, so it’s not really an option.

    I’m not a lawyer and am in no position to offer advice, but charging Fisker a storage bill for keeping the old car in the driveway seems like a pretty good idea. The storage bill might eventually reach the trade-in value, allowing the former owner to sell the asset to cover the storage bill. But, as I said, I’m not a lawyer, so don’t listen to me. If you ever find yourself in a similar position, just ask for professional help.

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