A Lamborghini Murcielago, after being towed for unpaid fees, sat unclaimed in a Torrance yard. The towing company sold it for $110,000, leaving $99,668 for the DMV, which can keep unclaimed funds. This situation highlights a broader trend where the DMV has collected over $8 million from sales of nearly 5,300 vehicles, many belonging to low-income individuals caught in a cycle of debt due to towing. The DMV is not legally required to notify owners about these proceeds, leading to potential financial losses for many.
The towing business allows companies to sell vehicles after debts go unpaid, a practice that can disproportionately affect those unable to recover their cars.
The California DMV has collected over $8 million since 2016 from lien sales, indicating a significant trend of unclaimed funds from vehicle sales.
Collection
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