The General deep sixes the nation's biggest dealer

http://www.cardcow.com/52058/reedmans-150-acre-multi-million-dollar-auto-center-langhorne-us-state-town-views-pennsylvania-other-pennsylvania-cities/

make that 150 acres

Nashco wrote:

SVreX wrote: Am I oversimplifying things too far?

Yes, as well as not understanding the dealership/OEM/financing/customer relationships and business practices. Bryce

Okee dokeey. I stand corrected.

ignorant wrote: I thought reedman was the biggest dealership

I picked up on NPR's statement that Bill Heard was. Other than that, I have no idea.

Wall Street Journal reported a few weeks ago that GMAC had stopped dealing with Bill Heard due to excessive fraud/misrepresentation on credit apps. Too many doctored paycheck stubs & W2's leading to bad debts for GMAC. You're not making money if the people aren't paying, don't blame them for dropping Bill Heard. Only truck I bought from Bill Heard was not financed, company purchase, delivery was cheaper than I could drive to the dealership & pick up myself. When I went back to look at buying a Tahoe for myself, ended up walking out on them. Our local dealership closed 2 months ago, loaded up with trucks & suv's, nothing moving, couldn't pay the floor plan and had to close the doors.

My apologies to the General.

I go to school with a guy who is a GMAC rep to dealerships. It will be interesting to hear his take on all of this.

P71 wrote: GM has nothing to do with GMAC.

Didn't Freddie Mac and Fannie Mae have nothing to do with the government? Not trying to poke you with a stick, I just don't think the separation is all that thorough, though I'll admit this thread title is off-base (intentionally- for impact).

GM sold GMAC, 100% of it IIRC, to a third party. So really they have very, very, very little to do with one-another. GM is basically waiting for the contract to expire to start their own GMAC up again. GM has NOTHING to do with GMAC's decisions on whether or not to offer financing to an individual or a dealership.

dlmater wrote: I have a friend that used to work for an owner of quite a few dealerships across the country (various makes). He said the owner commented frequently, "The best dealership general managers are hired right off the prison bus".

During my short time selling cars, my team leader had an "ankle bracelet" so I googled his name. He was out pending appeal after being found guilty of selling guns and drugs to kids. The jury sentenced him to 19 years. Evidently, this particular dealership thought he was well-qualified.

P71 wrote: GM sold GMAC, 100% of it IIRC, to a third party.

51% actually.

I thought they sold off more in a second deal?

May just be 51%, either way GM can't tell GMAC who they can/cannot finance anymore.

By the way, I drove past Bill Heard yesterday while in Orlando. I noticed that their fountain was on, so I guess that at least they're still paying the power bill.

ignorant wrote: I meant single location... The reedman has its one internal test track and is 123 acres 1 site and only one site

I'm talking about the total number of stores owned, not the size of one store. United Auto is the biggest holding company based on number of stores (or was the last I heard). No I don't work for them.

The Orlando store is closed. Good riddance. The state of FL sued them last year for fraud and deceptive practices.

The only problem is that the vermin that worked there will now find jobs elsewhere ripping off consumers.

the bill heard chevy in houston ran an ad about two weeks ago advertising new tahoes for way low, like 16,800 and blue book retail on your trade. got me curios as to why/how they would do that, i guess this is why