We purchase dealer loans. It has come to our attention that we have two dealers who sell the vehicle and then transfer the dealer paper to a finance company, usually so the purchaser can get some type of rebate. Then two months later, the purchaser of the vehicle goes back to the dealer, sells the vehicle to the dealer for a small amount, hence the $1 comment. Then the dealer resells the vehicle to the purchaser and the dealer treats the purchase as a new loan and then shops the new loan out to the FIs they sell paper to. So my question is, if the purchaser is covered under MLA, would this still be an exempt loan because basically the purchaser, purchased the same vehicle twice from the same dealer. I am getting too old for this stuff.