Tennessee Man Loses Truck and Money After GM Financial Error

A Tennessee truck owner recently fell victim to a scam that resulted in both financial loss and the theft of his truck. Michael Phillips, the owner of a 2025 Chevrolet Silverado, listed his vehicle for sale on Facebook Marketplace, expecting a typical transaction.

Tennessee Man Loses Truck and Money Due to GM Financial Error

The transaction took a turn for the worse when Phillips interacted with a buyer who seemed legitimate. The buyer suggested a three-way call with GM Financial to complete the payoff of the vehicle. Trusting this process, Phillips proceeded with the call, during which he received assurance that his loan balance was zero and that he was released from the contract.

Confirmation Erased and Responsibility Shifted

After concluding the call, Phillips handed over the keys to his truck, believing the deal had been finalized. However, shortly afterward, he discovered that the funds had vanished and the balance had not been settled. GM Financial informed him that he remained financially responsible for the truck since it had not been sold through a dealership.

• Key Events:
• Phillips sold his truck to a buyer after confirming a zero loan balance.
• GM Financial later reversed its confirmation and held Phillips liable.

Police Encounter and Investigation Attempts

Phillips attempted to report the truck as stolen, only to be told by the Knox County Sheriff’s Office that he voluntarily released the vehicle. This legal distinction complicated his situation. Frustrated, he decided to engage in his own investigation.

Using the truck’s transponder data, he tracked it to Georgia. However, when he arrived at the Atlanta Police Department, the truck was no longer there. Investigators revealed that the buyer, Robert James Durden, had provided a false identity and was a convicted felon.

A Pattern of Fraudulent Activity

This alarming incident highlights a growing pattern of scams targeting sellers with vehicles financed through GM Financial. Another victim, Sean Berger, reported a nearly identical experience, indicating that this could be part of a larger scheme.

• Common Scenarios in the Scam:
• Buyers initiate contact and suggest phone confirmations of loan payoffs.
• The balance appears cleared, leading sellers to release their vehicles.
• Subsequently, the funds disappear, and sellers are left with no recourse.

Phillips is sharing his ordeal to warn other private sellers about potential risks in such transactions. He believed he had taken all necessary precautions, only to find himself in a nightmare scenario. His experience serves as a cautionary tale in an era where scams are becoming increasingly sophisticated.