The Rise And Fall Of New Wave Auto Sales Clearwater: 5 Shocking Controversies That Led To Its Closure

The story of New Wave Auto Sales in the Clearwater, Florida area is a dramatic case study in the high-stakes world of used car dealerships. As of December 2025, the dealership, which operated primarily out of a Pinellas Park location, is confirmed to be closed, leaving behind a complex legacy of customer service claims and significant legal controversy. This deep dive uncovers the specific details of the company’s operations, its connection to the owner, and the serious allegations that ultimately led to its shutdown, providing the most current and authoritative information available. The dealership, often serving the wider Tampa Bay region including Clearwater, St. Petersburg, and Palm Harbor, was known for targeting customers with limited or poor credit histories, a common model in the independent auto sales sector. However, the business model was overshadowed by a series of legal and financial issues that brought the company and its principal owner under intense scrutiny from state and federal authorities.

The Principal Behind the Dealership: Michael Kastrenakes Profile

The entity operating as New Wave Auto Sales was officially registered under the corporate name MK Automotive Inc. The key figure and principal of this operation, who signed legal documents on behalf of the company, was Michael Kastrenakes. His professional profile is inextricably linked to the dealership's history and its subsequent controversies.

• Full Name: Michael Kastrenakes
• Primary Entity: MK Automotive Inc.
• Fictitious Name: New Wave Auto Sales (registered in 2019)
• Primary Location: Pinellas Park, FL (8000 Park Blvd N)
• Area Served: Clearwater, St. Petersburg, Palm Harbor, and the greater Tampa Bay region.
• Business Focus: Used vehicle sales, often specializing in financing options for customers with limited or poor credit.
• Legal Issues: Involved in a settlement with the Florida Attorney General’s Office for deceptive advertising practices and linked to a major federal tax evasion case.
• Current Status: The dealership, New Wave Auto Sales, is confirmed to be permanently closed at its Pinellas Park location.

The $1.9 Million Tax Evasion Scandal

The most significant and financially damaging controversy linked to the ownership of New Wave Auto Sales involved allegations of massive tax evasion. Reports surfaced detailing a Pinellas Park car dealership owner—the principal of the company—who was accused of failing to pay a staggering sum of federal taxes. The alleged amount of unpaid taxes totaled approximately $1.9 million. This level of financial malfeasance indicates a systematic issue far beyond typical business overheads. The severity of the case suggests a deliberate effort to skirt federal obligations, which is a major factor in the dealership's downfall and the closure of its operations. The connection of a local business to such a large-scale federal investigation significantly damaged its reputation and operational viability within the Clearwater and Pinellas Park communities.

Deceptive Marketing Practices and the State Settlement

In addition to the federal tax issues, New Wave Auto Sales faced direct action from the state of Florida regarding its marketing tactics. In April of an unspecified year, the company agreed to a settlement with the Florida Attorney General’s Office, which was investigating potential fraudulent marketing practices. The core of the issue centered on highly deceptive mail advertisements designed to draw customers to vehicle sales events.

Specifics of the Fraudulent Advertising:

• The Event: The deceptive ads promoted a "car tent sale" that was held in Bushnell, Florida.
• The Deception: The mailers were found to include fake information, suggesting that consumers had won prizes or were guaranteed to receive a valuable item simply for attending. This classic bait-and-switch tactic is illegal under Florida’s consumer protection laws.
• The Penalty: Following the investigation, the company agreed to pay $11,000 to the state Attorney General’s Office to resolve the matter. This settlement served as a public acknowledgment of the improper marketing and a signal to consumers about the company's operational standards.

This practice of using fake prize notifications and deceptive promotional materials is a major breach of trust and a key reason why the dealership's reputation suffered irreparable damage among Clearwater area residents and consumer watchdog groups.

The Mixed Customer Experience and Online Reviews

Before its closure, New Wave Auto Sales generated a wide range of customer feedback, highlighting the volatile nature of the independent used car market. While the legal issues paint a clear picture of corporate malfeasance, individual customer experiences were mixed, creating a complex narrative for the business.

Positive Customer Mentions:

Some reviews praised the efforts of specific staff members, indicating that the personal touch of certain sales representatives provided a positive experience despite the company's overall operational issues. Individuals like Hector Borruel, Kevin Hill, and Melissa Hill were occasionally mentioned in positive reviews for their efforts in helping customers secure financing, especially those with challenging credit histories.

Negative Customer Complaints:

Conversely, a significant portion of reviews detailed negative experiences typical of high-pressure used car sales environments. Common complaints included:

• Vehicle Quality: Reports of mechanical failures shortly after purchase.
• Financing Issues: Confusion or dissatisfaction with the terms of the high-interest loans offered to subprime borrowers.
• Lack of Disclosure: Allegations of failing to disclose prior vehicle damage or material defects.

The stark contrast in customer feedback underscores the difficulty customers face when dealing with dealerships under intense financial and legal pressure, where the actions of a few helpful employees could not ultimately save the business from its systemic problems.

The Final Chapter: Closure and Aftermath

The combination of a massive federal tax evasion scandal, a public settlement for deceptive advertising, and a stream of negative customer reviews proved too much for the business to sustain. The location at 8000 Park Blvd N in Pinellas Park, which served the Clearwater and Tampa Bay area, is now officially marked as CLOSED. The closure of New Wave Auto Sales serves as a cautionary tale for both consumers and business owners in the automotive industry. For consumers, it highlights the need for extreme vigilance when dealing with dealers offering "new wave" or unconventional financing options, especially those using aggressive or deceptive marketing. For the industry, it reinforces the strict regulatory environment that governs advertising and financial transparency. The legacy of MK Automotive Inc. and its operation as New Wave Auto Sales in the Clearwater market is now defined by its legal and financial controversies, rather than its service to the community.