Opinion
87-159.
December 16, 1988. Rehearing Denied January 13, 1989.
Appeal from the Circuit Court, Jefferson County; Stuart Leach Judge.
Robert T. Wilson, Sr., and Garve Ivey, Jr., of Wilson King, Jasper, for appellants.
J. Fred Wood, Jr., and Terry McElheny of Dominick, Fletcher, Yeilding, Wood Lloyd, Birmingham, for appellees Steel City Oldsmobile GMC Truck, Inc., and Dural Weathers.
William B. Fernambucq of Huie, Fernambucq Stewart, Birmingham, for appellee General Motors Acceptance Corp.
Dennis G. Pantazis and Claudia H. Pearson of Gordon, Silberman, Wiggins Childs, Birmingham, for amicus curiae Alabama Consumer Finance Ass'n, Inc.
H. Hampton Boles and John P. Scott, Jr., of Balch Bingham, Birmingham, for amicus curiae Alabama Bankers Ass'n.
Robert A. Huffaker and Lloyd V. Crawford of Rushton, Stakely, Johnston Garrett, Montgomery, for amicus curiae The Automobile Dealers Ass'n of Alabama, Inc.
Affirmed on the authority of Casey v. Travelers Ins. Co., 531 So.2d 846 (Ala. 1988).
AFFIRMED.
TORBERT, C.J., and MADDOX, HOUSTON and STEAGALL, JJ., concur.
JONES, J., dissents.
ALMON, SHORES and ADAMS, JJ., not sitting.
I respectfully dissent. To affirm summarily on the authority of Casey overlooks this Court's authority and duty to review the issue here presented: Whether an annual interest rate of 39% on the balance of the purchase price of a used automobile — a consumer product — is illegal under the test of unconscionability. Lessons of history should not be so cavalierly ignored. Every known civilized society has found it necessary, in the public interest, to regulate the natural greed of the money lender.