Hicklin v. Onyx Acceptance Corp.
Delaware Supreme Court
970 A.2d 244 (2009)
- Written by Miller Jozwiak, JD
Facts
Shannon Hicklin (defendant) bought a car, financing it with an installment sales contract. The contract was assigned to the Onyx Acceptance Corporation (Onyx) (plaintiff). Hicklin failed to make several payments, and Onyx repossessed the car. At that time, Hicklin owed about $5,741.65 on the installment contract. At the time of repossession, there were several defects that had an estimated $1,365 repair cost, and the car’s estimated wholesale value was $3,700. Onyx has the car sold at auction for $1,500. Taking the sale value and the repair costs, Hicklin then owed $5,018.88 on the contract. Onyx sued Hicklin to collect that amount. The trial court concluded that the car’s estimated value at the time of sale was $2,335. Because the auction sale amount of $1,500 was greater than 50 percent of that value, the trial court concluded that the sale was reasonable; accordingly, Hicklin still owed the remaining amount. Hicklin appealed. The intermediate appellate court concluded that the trial court had applied the correct reasonableness test, and the court therefore affirmed the judgment. Hicklin appealed.
Rule of Law
Issue
Holding and Reasoning (Jacobs, J.)
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