Go Back   DealershipForum.com > Domestic Franchises and Independent Dealers > Chrysler > Sales

Notices

Reply
 
Thread Tools Display Modes
Old 08-03-2009, 01:49 PM   #1
gingersnap
Senior Member
 
Join Date: May 2009
Posts: 260
Default Floorplan Check

With dealers pumping out this many cars and funds slow to come in FLOORPLAN CHECKS could get real SCARY at some places I bet as tight as things are.
gingersnap is offline   Reply With Quote
Old 08-03-2009, 02:17 PM   #2
lsx only
Senior Member
 
Join Date: Nov 2008
Posts: 371
Default

very true one reason we are not doing the cash for clunkers,gm is very slow on paying incentives right now at lest 3 weeks
lsx only is offline   Reply With Quote
Old 08-03-2009, 02:22 PM   #3
possum
Senior Member
 
Join Date: Jan 2009
Posts: 1,122
Default

Do the checks seem to be as frequent since CFC is gone, and companies are out from BK?
possum is offline   Reply With Quote
Old 08-03-2009, 03:00 PM   #4
gingersnap
Senior Member
 
Join Date: May 2009
Posts: 260
Default

Possum, I cannot say as for CFC as we have always been with a Local Bank once a month or sometimes every other month. I will say since the BK Chrysler has been alot better about paying rebates and warranty claims.
gingersnap is offline   Reply With Quote
Old 08-03-2009, 03:14 PM   #5
Txflyer
Senior Member
 
Join Date: Jan 2009
Posts: 953
Default

Same here - most of our current inventory is floored with the local bank. Nothing left with CFC, and only the few transferred in from other dealers is with GMAC. No GMAC floorplan check yet.
Txflyer is offline   Reply With Quote
Old 08-04-2009, 10:16 AM   #6
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by gingersnap View Post
With dealers pumping out this many cars and funds slow to come in FLOORPLAN CHECKS could get real SCARY at some places I bet as tight as things are.
Cash flow could certainly be an issue if the CARS payment process turns out to be as difficult as the claim entry process was.

On the other hand, it probably won't take too long for the reps to complete the audits at most stores since there are hardly any vehicles left.
XDCX is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Sba floorplan CDCJ Automotive Discussions 5 10-18-2010 01:10 PM
Dealer pleads guilty to Federal Check Kiting Charges XDCX Automotive Discussions 4 04-27-2010 11:42 AM
70 Deals Under Review - Check out my experience. vicero Automotive Discussions 11 08-19-2009 08:42 PM
Check this out ssdd Sales 6 01-30-2009 09:28 AM


All times are GMT -7. The time now is 11:59 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright DealershipForum.com - 2008 - 2016