Patrick Beaudreau vs. General Motors Acceptance

Patrick Beaudreau ("Plaintiff") purchased a new car from Thomas-Hill Auto Center ("Dealer"). In order to finance the purchase of the vehicle, Plaintiff signed a retail installment sales contract ("Contract") at an annual percentage rate ("APR") of 13.5%. The Contract listed Dealer as the creditor. General Motors Acceptance Corporation ("GMAC") purchased the Contract from Dealer at a rate of 11.25% ("buy rate"). GMAC paid Dealer the difference between the APR and the buy rate ("dealer reserve"). Plaintiff sued GMAC claiming GMAC had conspired with Dealer to defraud him by not revealing the dealer reserve and the buy rate, or what Plaintiff claims is the "real interest rate." GMAC filed a motion for summary judgment. The trial court found the business practices of GMAC detailed in the record are not unlawful or fraudulent and granted summary judgment. Plaintiff appeals, asserting that the trial court erred in its treatment of Plaintiff's expert's affidavit and in granting summary judgment. We vacate the grant of summary judgment and remand.