Legal Opinion
Americredit Financial Services, Inc. v. Penrod
Court of Appeals for the Ninth Circuit
Decided July 16, 2010No. 08-60037PublishedCited by 25 opinions
1Opinion of the Court
OPINION
MILLS, District Judge:
The question presented in this case is whether a creditor has a purchase money security interest in the “negative equity” of a vehicle traded in at the time of a new vehicle purchase. Because we answer this question in the negative, we affirm the decision of the Bankruptcy Appellate Panel (“BAP”).
I. BACKGROUND
In September 2005, Marlene Penrod purchased a 2005 Ford Taurus from a California Ford dealership. According to the figures recited by the BAP,1 the price of the car, including tax and license, was approximately $25,600. Penrod traded in her 1999 Ford Explorer…
2Cases cited11 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Boyajian v. New Falls Corp.Court of Appeals for the Ninth Circuit · 2009
- In Re PriceCourt of Appeals for the Fourth Circuit · 2009
- Ford v. Ford Motor Credit Corp.Court of Appeals for the Tenth Circuit · 2009
- Ford Motor Credit Co. v. Dale (In Re Dale)Court of Appeals for the Fifth Circuit · 2009
6 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Wolfe v. Jacobson (In Re Jacobson)Court of Appeals for the Ninth Circuit · 2012
- Earnest Woods, Ii v. Santos CervantesCourt of Appeals for the Ninth Circuit · 2013
- Noelle Lee v. Robert FisherCourt of Appeals for the Ninth Circuit · 2023
- Marlene Penrod v. Americredit Financial ServicesCourt of Appeals for the Ninth Circuit · 2015
- Augustine Bustos v. Steven MolaskyCourt of Appeals for the Ninth Circuit · 2016
20 more not listed; retrieve them via the Exa API.