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Subscribe to this threadFord offers to buy back 81 dealerships
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Sandy @ Mar 10th 2008 6:53PM
You cn bet that the few dealers that want to hang on for a while ... wish to because they also borrowed from banks and/or lending companies, and they are not so forgiving. So, they wanna try & pay down what they owe to these private commercial lenders, before giving it all back to Ford.
Believe me, I was in the business for many many years. The huge investment (multi-millions) is only finally absorbed after over 25 years in business, in the same location. (If you are good and also lucky.)
Percentage-wise, you can make more money opening a medium sized liquor store !!
UltimoDragon @ Mar 11th 2008 2:44PM
I remember a Nightline report at least ten years ago that profiled an African-American dealer in a similar program done by GM.
After jumping through all the necessary hoops, they placed his store (he didn't have a choice) into a small midwest community. I think a day or a few days after his dealership finally opened, it was announced that the plant/factory that provided most of the area's jobs would close.
I don't know if GM or Ford ever implemented changes to their capital lending programs, but that story certainly didn't put it in a good light.