Man stunned when GM dealer says pay for Yukon weeks before possession or lose it
February 27, 2022, 04:35 PM
shovelhead
quote:
Originally posted by OKCGene: I’ll bet the Bank would not be pleased and happy to learn of this. That smacks of fraud.
Many years ago I worked at a Dealership that ended up going out of business, GM walked in and took it over and quickly sold it to another local established dealer. The dealership owner was in serious financial trouble and pulled all kinds of serious financial shit. I quit the last pay period payday that was good, my check cleared the bank. The following pay period everyone’s pay check bounced. .
I was at a dealership that GM came in and took control of all floor plan vehicles. Took possession of MSO’s, titles for used vehicles and all keys for those cars and trucks. He was on site daily for about three months. That went on until they came in and repo’ed all the cars on the lot.
We as employees were informed of what was going to happen by the dealer as soon as he knew. Still, it was hard to fathom when on the appointed day several car haulers pulled up and loaded everything on the lot.
I can say that my dealer made sure that we were paid on time and the full amount until the day we closed the doors for the last time, the day of the dealership’s sale. Well, the almost sale I should say. The auto manufacturer’s rep present at the sale announced just before signatures were put to paper that the franchise was immediately pulled and would not be offered to the buyer.
-------------------------------------—————— ————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
February 27, 2022, 04:42 PM
OKCGene
^^^^^^^. GMAC walked in for the floor plan audit. Cars were not there, money had not been remitted to GMAC. He had been robbing Peter to pay Paul. .
February 27, 2022, 05:48 PM
shovelhead
quote:
Originally posted by OKCGene: ^^^^^^^. GMAC walked in for the floor plan audit. Cars were not there, money had not been remitted to GMAC. He had been robbing Peter to pay Paul. .
Our cars were there, unfortunately floor plan payments were behind and a couple of dealer trade checks were NSF. GMAC was not happy nor were the dealers that got the wallpaper. Even during that part of the mess our paychecks never once bounced.
-------------------------------------—————— ————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
Not the one I was at. Small five line single point in the Southwest. Was family owned.
-------------------------------------—————— ————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
February 27, 2022, 07:29 PM
PowerSurge
The last new GM product I ever bought was in 2007 from Bill Heard Chevy in Buford, Georgia. They lied to me about a $500 factory rebate that came available on the car the day before I bought it. Reported it to GM and received a check from them 2 weeks later. Not long after that, the dealership became Rick Hendrick Chevy. Found out later they had been in trouble with the state of Georgia over their shady dealings.
——————————————— The fool hath said in his heart, There is no God. Psalm 14:1
February 27, 2022, 07:58 PM
sigmonkey
^^^
NSFW
"the meaning of life, is to give life meaning" ✡ Ani Yehudi אני יהודי Le'olam lo shuv לעולם לא שוב!
February 27, 2022, 09:29 PM
dave7378
Total BS move. I have dealt with the same GM dealership for the 27 years I have been in business. I have purchased over 30 vehicles from them. They have always been great and have always bent over backwards to fix a problem. I ordered a 2021 Escalade. Took 9 months to come in. Someone offered them 10k over sticker and they politely explained the vehicle was spoken for. I credit their loyalty but it has always been against their policy to go over sticker. This is why I have always bought from them.