Who will step up with wholesale dealer financing?

LuckyLady · 01-05-2009, 10:40 AM

Happy New Year everyone. Let’s make one wish for a cure to the biggest problem in front of us this year: credit, or actually the lack of it.Senator Dodd and friends bailed out the banking industry with some impressive checks, but they forgot to attach any strings to them. So the banks said “thank you” [...]

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steal4 · 01-05-2009, 12:19 PM

this is going to be huge problem for allot of dealers boat and car! I am in the car business and there dealers all over the country that are facing this reality. Bank of America told one dealer locally unless he had more import dealerships than domestic they would not floor plan any inventory with them. If they will floorplan your franchises you have to worry about your annualized profitability based on last few months and some banks are backing out of previously negotiated deals.

A bunch of BS

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01-05-2009, 12:19 PM	#2
steal4 I practice safe fishing Join Date: Oct 2006 Posts: 74 Credits: 1,597.2	this is going to be huge problem for allot of dealers boat and car! I am in the car business and there dealers all over the country that are facing this reality. Bank of America told one dealer locally unless he had more import dealerships than domestic they would not floor plan any inventory with them. If they will floorplan your franchises you have to worry about your annualized profitability based on last few months and some banks are backing out of previously negotiated deals. A bunch of BS