Ford pulling dealships
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Ford pulling dealships
Not sure if this is an isolated case or not but I know it to be fact. I live in Central WI and last Friday unbeknown to the dealership owner FMC showed up with several car haulers and left with all their vehicles. There was not a thing the dealership or owner could do about it. Law enforcement was there and the whole deal. Never seen or heard of anything like it. The dealship closed it's doors that afternoon. 30+ people jobless with no clue of what was coming. Very sad.
This is the seconf Ford dealership to go belly-up in the area.
This is the seconf Ford dealership to go belly-up in the area.
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nope they shut down. heard the whole story from folks at work whom had relatives and spouses that worked there. I'd post the link to the dealership web-site but I don't think that it would be appropriate.
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From: Greenfield, MA
I've been in the business 25 years and I've heard of this happening a few times. Sounds like the dealership was "Out of Trust" with the bank ...you don't pay your bills...you don't stay in business. Ford doesn't just come in and take your cars away...ownership was aware of the issues.
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From: Las Vegas
Originally Posted by BIGKEN
I've been in the business 25 years and I've heard of this happening a few times. Sounds like the dealership was "Out of Trust" with the bank ...you don't pay your bills...you don't stay in business. Ford doesn't just come in and take your cars away...ownership was aware of the issues.
Yup, they weren't paying their flooring after they sold a car.....and/or they were selling contracts to multiple banks.
After I left the business, Ford siezed the dealership I had worked at.
The only thing that puzzles me is that Ford usually tries to sell the dealer after bringing in their own management to run it in the meantime. I haven't heard of them just shutting it down.
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I heard rumors that banks were calling customers saying that their car payments were late on vehicles they had traded in at this particular dealership.
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From: Las Vegas
Originally Posted by DMAX-HD
I heard rumors that banks were calling customers saying that their car payments were late on vehicles they had traded in at this particular dealership.
LOL!!!.....you kinda contradicted yourself from the OP.
OBVIOUSLY the owner knew what was coming!!!
Not only was he not paying Ford.....he wasn't paying off trade in's.
My prediction is the owner had a gambling or nose candy problem (or both)
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decadent and depraved
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From: Right Behind You
Originally Posted by DOHCmarauder
After I left the business, Ford siezed the dealership I had worked at.
I wonder if it could be connected...
Tim
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From: Greenfield, MA
Originally Posted by DOHCmarauder
Yup, they weren't paying their flooring after they sold a car.....and/or they were selling contracts to multiple banks.
After I left the business, Ford siezed the dealership I had worked at.
The only thing that puzzles me is that Ford usually tries to sell the dealer after bringing in their own management to run it in the meantime. I haven't heard of them just shutting it down.
After I left the business, Ford siezed the dealership I had worked at.
The only thing that puzzles me is that Ford usually tries to sell the dealer after bringing in their own management to run it in the meantime. I haven't heard of them just shutting it down.
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From: Greenfield, MA
Originally Posted by DOHCmarauder
LOL!!!.....you kinda contradicted yourself from the OP.
OBVIOUSLY the owner knew what was coming!!!
Not only was he not paying Ford.....he wasn't paying off trade in's.
My prediction is the owner had a gambling or nose candy problem (or both)
OBVIOUSLY the owner knew what was coming!!!
Not only was he not paying Ford.....he wasn't paying off trade in's.
My prediction is the owner had a gambling or nose candy problem (or both)
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From: Lake of the Ozarks, MO
Dodge took over a dealership here because they were double-financing vehicles, not paying off trade-ins etc. They took the dealership over, righted the wrongs and then sold it. They used to sell a lot of vehicles, and even with new ownership most people I know took their business to other dodge dealerships...
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From: Melbourne, Aus
Originally Posted by thorseshoeing
Hmm...Seems that you left at a real convenient time...You bought the 90 room mansion and new Bentley shortly thereafter didn't you...
I wonder if it could be connected...
Tim
I wonder if it could be connected...
Tim
As for Ford's move to shut down the dealerships - instead of trying to rebuild them... they have been trying to cut dealership numbers for a while.
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From: Las Vegas
Originally Posted by BIGKEN
Gambling or nose candy...kind of harsh without knowing the facts. Most newer dealerships are highly leveraged...not a lot of operating capital...with the lousy economy a lot of them are having trouble making their nut. This can lead to desperate moves that don't always make sense when looked at objectively. Not saying that my version is better than yours...just playing devils' advocate and suggesting another alternative. Regardless, the dealer principal has/will suffer the consequences. Unfortunately they leave behind collateral damage...the now out of work employees and their families.
You're 1000% correct...........my version was the dealer I was talking about.
The subject dealer of this thread very well could have been trying anything to stay afloat until better times.....robbing Peter to pay Paul.
I do think that we agree that the owner knew the end was near....
And the collateral damage is very unfortunate.
Last edited by DOHCmarauder; Oct 1, 2007 at 05:39 PM.
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From: Las Vegas
Originally Posted by FTE Fred
I think his move into vehicular finance soon after was a little strange too
As for Ford's move to shut down the dealerships - instead of trying to rebuild them... they have been trying to cut dealership numbers for a while.
As for Ford's move to shut down the dealerships - instead of trying to rebuild them... they have been trying to cut dealership numbers for a while.
Actually, that was the dealer where I was F&I......we were around the 5th or 6th largest Ford dealership in the country selling 1,000 new and used a month!!!!
Making mid 6 figures in my mid-twenties was NOT worth it with SCHEDULED 60+ hour work weeks......may have been different if I hadn't had a newborn son.
As far as I knew, we were legit while I was there....LOL!!!
I left in '90 and I think Auto Nations bought 'em around '95.
Right on about trimming dealerships.........depending on the area, it makes sense.