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Nissan Settles Suit Over Repossessed Cars

August 25, 2000|John O'Dell

Nissan Motor Co.'s U.S. financial arm agreed to a $68-million out-of-court settlement of a class-action lawsuit by car buyers who complained that the company made them continue paying for vehicles after they had been repossessed. The settlement, approved by a federal judge in San Francisco, will actually cost Nissan about $4 million, a spokesman said. The rest of the settlement represents "uncollectable debts." The settlement covers 16,000 customers whose cars were repossessed by Nissan.

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