In article <_vmdnWD78-CF___UnZ2dnUVZ_tLinZ2d[at]giganews.com> ,
Igor Chudov <ichudov[at]algebra.com> wrote:

- quote -

Cars are generally on "floor plan". That is, the dealer takes
the car and pays interest on the car for each day it sits on
the lot. Once the car sells, the dealer has to buy it from
the finance company. If the dealer goes toes up, the cars would
go back to the finance company, and be sent out to other dealers
for sale as new cars. Used cars would go to the auto auction
and be bought by other dealers.

So far, I haven't seen any distress sales despite a dealer a day
going out of business in Minnesota in recent months.

-john-

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John A. Weeks III 612-720-2854 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
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On Jan 5, 11:40*am, Igor Chudov <ichu...[at]algebra.com> wrote:
- quote -


Judging by RV dealerships closings, yes there are liquidation sales.
I have not seen this from car dealerships yet.

Ford and GM report sales of vehicles declining 32% compared to last
year. I would suppose that foreign car makers (such as Honda) would
report substantial declines as well.

I expect, therefore, that many car dealers would fold.

My primary reason for being interested in this is my my wife's car is
by now 10 years old and she deserves to replace it with something
newer.

So, my thinking goes, would I be able to find a liquidation auction of
any new car dealer and buy a car at a considerable discount to a "new
dealer price".

How is inventory of failed car dealers, disposed of?
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