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Old 05-04-2009, 03:41 PM   #1
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What happens if your dealer closes?

I've been reading that under the latest restructuring posed by Obama that up to 2600 GM dealers will be shuttered? Does anyone have any clue what happens to orders placed by those dealers?

I don't think my dealer would be one to close .... it's supposedly one of the largest in the state ... but who knows ...

Also ... I'm assuming that my car will certainly be here LONG before anything happens on the dealer front. But .. I've also read about the fourth quarter for pre-orders ....

Just wondering ...
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Old 05-04-2009, 03:58 PM   #2
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You will need to contact the district manager for your area and have your order transfered to another dealer. No biggie.
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Old 05-04-2009, 04:14 PM   #3
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what if you have a deposit with the dealer that closes??
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Old 05-04-2009, 04:15 PM   #4
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Couple people lost their deposits. . and that's is what scares me. . I have 2k down in my small dealership.
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Old 05-04-2009, 04:41 PM   #5
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Most dealers will not return your deposit! Most dealers don't even know they are closing till the night before. My friend worked at a dealership that just closed. He went to work on a Thursday morning and seen that everything was still closed with a note on the door reading. All staff please remove all your private belongings by 5 pm Doors will be shut as of 5pm. How nice is that? No one had time to call the people that their orders or deposits were lost! Keep checkin with your dealer!! Good LUck!! I'm glad I got my 2SS !!!
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Old 05-04-2009, 05:13 PM   #6
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I put $2500 down and was planning on putting down about 1000 every other week just so I don't spend the money on other junk and to stay in good contact with my dealer. Is this a bad choice? Is there a chance they could close and I could lose like 10 grand in deposits?
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Old 05-04-2009, 05:31 PM   #7
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This is what I'm worried about since my dealer is small and I have $2500 down
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Old 05-04-2009, 09:08 PM   #8
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Quote:
Originally Posted by Dentyneice View Post
I put $2500 down and was planning on putting down about 1000 every other week just so I don't spend the money on other junk and to stay in good contact with my dealer. Is this a bad choice? Is there a chance they could close and I could lose like 10 grand in deposits?
Put in the bank DON'T GIVE IT TO YOUR DEALER!!! Wait till the car comes in... Good Advice!!
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Old 05-04-2009, 09:14 PM   #9
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Quote:
Originally Posted by Dentyneice View Post
I put $2500 down and was planning on putting down about 1000 every other week just so I don't spend the money on other junk and to stay in good contact with my dealer. Is this a bad choice? Is there a chance they could close and I could lose like 10 grand in deposits?
dont give your dealer any more $$ than you have to before the car actually arrives! save that money in the bank until your car arrives. it would suck to loose that much in deposits!! $1000 is one thing, but a loss of 10 grand could make it so you couldnt even buy the car anymore! trust me, save your money and only give the majority of your downpayment when you can see your camaro in the parking lot!!!!!!!
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Old 05-04-2009, 09:39 PM   #10
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Believe me, I've been in business for years...

The only things you can count on are:
a) Businesses for various reasons never want to telegraph bad financial news before it happens for several reasons, so you're dreaming if you think you'll get advance notice of a dealer's closing.
b) ALWAYS leave deposits by credit card. Anyone who remembers the airlines that went bankrupt or out of business will remember that credit card purchasers got their money back.
c) We have not heard a single credible source that has said definitively that a preordered car will always be delivered to another dealer for you if the original dealer goes out of business. There are way to many variables and state laws that regulate what will happen and the conditions under which the dealer went out of business.
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