An Arkansas car dealership is facing a class action lawsuit over claims the interest rate it charged violated the state constitution.
Natasha L. Fletcher filed the lawsuit in Arkansas Circuit Court on May 22 against UAG Fayetteville II LLC and Ally Financial Inc., claiming her interest rate was more than 18 percent when the Arkansas Constitution caps the rate at 17 percent. She also named Honda of Fayetteville, which does business as Landers Honda North, as defendants in the lawsuit.
Fletcher purchased her Honda Insight in June 2013, and signed an agreement that would charge her an annual percentage rate of 18.15 percent.
Fletcher is seeking a class status for the suit for those who purchased cars from UAG and were charged an interest rate of more than 17 percent. She is also seeking a judgment to void the car purchase contract, and an unspecified amount in damages plus court costs.
She is represented by Tim Snively of Snively Law Firm in Fayetteville, Ark.; Alex G. Streett, James A. Streett and Robert M. Veach of Streett Law Firm, P.A., in Russellville, Ark.; and Joe P. Leniski Jr. of Bransetter, Stranch & Jennings, PLLC of Nashville.
Circuit Court of Washington County, Arkansas Civil Division case number 5:15-cv-05117.