Ford Dealerships Going Bankrupt, Floor Plan Foreclosure Ford Steps In, Customers Screwed!
HTML-код
- Опубликовано: 8 июн 2024
- In today's video we talk about a Ford dealership going bankrupt, customers being screwed over on their trade ins, and Ford Corp taking over. Is this a trend?
Авто/Мото
3rd rate RUclipsrs ✅
It’s all going to collapse
with a quickness
I guess ford dealerships are running out of people to buy $70k F150s, $88k Expeditions, $60k Explorers, $70k Broncos.
those are not base models. those are jammed options for those prices.
@@berardoferrari they quit making base models
And 50k+ Mustangs…some pushing 70k+
@@berardoferrari And they're still running out of fools that will pay for that over priced loaded junk that isn't worth sheet when you trade them in.
@@berardoferrari oh, sweet, summer child. Those are not optioned out. They have scam dealer addons, which are mandatory and dealer markups. You don't want to see a fully optioned one LOL
We just getting this crap show started
Maybe we can get some direct to consumers and reduce prices.
Your liability on the car loan doesn't end UNTIL the loan IS PAID OFF.
Ideally, you trade in your car and the dealer pays off your loan off on the date of your trade in.
That probably won't happen. Minimize the risk by telling your DMV about the sale of the vehicle, inform the finance company that the car has been sold and verify the payoff amount. Check back with the finance company and DMV in a month to make sure that the car loan has been paid off.
The government is hemorrhaging money into these auto manufacturers, and the manufacturers are funneling incentive money into dealerships. Its going to take a long time before it goes bust
@@michaelfrock2473I kinda doubt it with some of these brands ngl.
The thing about it is, they did this to themselves! Dodge, Ford, all of them, the factory too. Redicolous as prices. I love to see dealers eat it! There are some good dealers out there, but they're likely to survive. The Schisters will go under. Love it!
I know how to fix this, Ford charge three times as much for your vehicles and dealerships, add huge markups for things no one wants. Wait to do this until people are broke and interest rates are sky high. That should work out perfectly. Don’t forget, your cars should stall out at highway speeds and you should say that’s not life threatening.
Overpriced, interest rates are high and poor quality. Oh and Joes inflation is crazy high.
*WHAT? You mean Dementia Joe **_lide???_** Joe says we are in the best economy of the last 150 years! Please tell me that's still true, and the Democrats didn't just lie to me for the last 4 years! - **_Of COURSE they lied for the last four years!_*
Except inflation wasn't due to JB. Blame JP and Janet. And demographics, both here and abroad. And the end of globalization which is the US Navy's "fault". Blaming Biden is far too simplistic.
What SPECIFIC joe POLICY do you think created the inflation
@@diegoharo7943 open borders and paying to house and feed, ev mandates for car companies that no one wants, trillion dollar national debt every 100 days!!!! take your pick smooth brain!!!!
@@diegoharo7943 Its the trillions of dollars being sent overseas to fight a war that's not ours. Plus the out-of-control government spending that is causing inflation. Inflation is the hidden tax. Inflation was at 1.5% when Joe took over its now at 9.1%
Own the vehicle before you trade .
Dealerships aka stealerships.
Very original. Did you come up with this? Asking for a friend
Its not just that no one can afford a 55k plain Jane truck, and 65 to 115k for the better models. Same with Dodge and Chevy
Dealers would rather get all their vehicles repo'd by the floor plan company than sell it for less. The floor plan companies will literally just come and take all the inventory that is financed on their floorplans. They will also place a lien on the dealers' personal properties like homes. This is why many dealership owners will file bankruptcy to protect their home and personal assets. The dealers were hoping to ride the post covid wave, but the market has stalled. Really, there isn't a way out for many of them. We'll see thousands of dealers going out of business like we did in 2008/2009.
Your business debts are separate from your personal debts like your home
Which Ford Dealership was taken over by Ford?
Lol, good to see these stealerships go belly up. Sorry for the guy who got screwed on his trade.
There has to be a significant floor plan, interest, debt difference between a lot full of 15-30k cars vs the insane unit prices of today being 65-110k. I bet older dealers are use to floating lots full of cheaper units. They have not gotten use to a lot full of tiny homes, lol.
They lost a LOT of customers:
A. "Gay Pride" truck
B. Ridiculously high prices
C. Making junk vehicles
Who’s the genius that buys a car and then tries to get rid of it 2 months later ☠️
I feel bad for the guy that traded in his car and now he has a giant mess to deal with. At some point it needs to be criminal because his car was likely sold and the money was used to pay other bills. That's 100% fraud that shouldn't be ignored just because of bankruptcy proceedings.
I remember the economic downturn of 1987-1988, Nissan Motor Company came and repossessed the cars right off the lot at Busam Nissan in Tri-County (retail-rich area of Cincinnati). It was sorted out pretty quickly as I recall, but for a short time, the dealership only had used cars to sell.
Political change?? MSRPs up 40% people can't afford trucks that cost 1/3 the value of their home mortgage.
Finally, the repercussions of their own actions are beginning to take shape. Cut the prices dealers and maybe, just maybe I will return to buy again someday. you either learn this lesson and adapt or you go away. Your move. And if this is true, why don’t you name the dealership?
Well, it’s time for a good lawyer. Name everybody, the salesman, the sales manager, the dealer principal, , the bank, the manufacturer and the poor girl in the back that typed it up. Steve Lehto did a king on buying and selling stolen cars, and there is a clause in all bank contracts that protects you.
This happens a lot more than people think. IT even happens with dealerships who DONT go out of business. Its a good rule of thumb to confirm and get a payoff letter form the bank.
You rock…Keep the info flowing TK💯
The CDJR dealer in my town has a sign up that the place is under new management and 35 vehicles must be liquidated.
Interesting I just went to add another person to my title for security reasons on a car that I paid off 2 years ago only to find out the bank never lifted the lien on it been back and forth for 2 weeks with the bank and tag office
I wonder sometimes if the manufacturers are doing this on purpose to move to direct sales.
I could be wrong, but my parents PAID for UNDERCOATING on that brand new 1975 Pontiac Catalina 4-door with the 400 V-8. I don't think the dealer ever did the undercoating, so they just took my parents' money. That dealer quickly became Toyota of Cincinnati, I guess the dealer was tired of pushing lousy gas-guzzlers with the "Quadra-Junk" carburetor. But yeah, most dealers are dishonest and they suck.
This is why I never do a trade. All my vehicles are paid for so what my wife and I do is pass them on to my son and his family. They get a great car, with all the maintenance records. I realize a lot of people can't do that but if you can, it is a good idea.
I would call the police and ask if the car can be considered as stolen. They took the car under false pretense and have not paid for the car as was agreed upon. It is theft or fraud at a minimum.
And the police will say it is a civil matter...
How does a "customer" get screwed when a dealer goes bankrupt exactly?
Service department goes down with the dealership? Where to now for that warranty repair. The newest vehicle I have is a Cummins ram. 2004. My work truck is a 2015 F550. I’m glad it’s a company truck. I would have gone bankrupt in repair bills on that thing.
There two ways for a business to fail, one is to sell inventory at a loss until the business goes broke. The second is to declare insolvency and liquidate the assets and pay the primary investors off followed by everyone else. Guess which way means the investors get optimum return on there investment.
About time they have been screwing the customers for years and we are tired of it
Henry Ford wanted to make cars everyone could afford. Low priced, reliable cars. Ford should return to their roots
Well, they are selling all the RAV4, Sienna, and other cars without problems. Go figure!
Stealerships.
First off if ppl think interest rates will drop anytime soon haa I got a bridge to sell u in Brooklyn real cheap it will take years 2-4 years b4 we get back to those days if those days ever make it back second stop buying these outrageous prices for trucks , a 3 inch lift , 30 inch tires, new leather seat covers on a base truck isn’t a 20-30k premium add on , it’s a rip off , aka rocky ridge editions
CDJR dealer in my town belly up.
id report the vehicle as stolen. wait until the police recover it
Damn bummer TK hope that person can get there credit score fixed.
That dealership represents ford. Sue ford! I hate ford with a passion. They’ll never get my business again.
Here in California they still asking mark ups and add on on used and new raptors…. They them burn 🔥
I hope all the dealerships go under!
I like this channel and I mean this in the best way: this guy definitely goes to a black barber.
Vote for Joe! he's from Scranton.
FJB!
I totally agree there running out of time a major collapse is coming!
intrest rate needs to come down to 0%
That's not happening
How is the customer screwed ?
That’s high interest rates! Just like the 1980s!
Not everyone has had the pleasure to go to dinner with Jack Nasser but I have. In 1999 Jack invited myself and Jim Borre' SEMA to Detroit and Jack made a comment about the automotive industry going to hell in 2020 but covid hit and now what he explained Has become reality. SEMA has a year left and PRI becomes strong. TK I am a third generation Automotive Restyler and automotive Dealer
Nasser specified 2020? The late Sergio Marchione made a number of public statements about the need for consolidation in the industry and floated a number of mergers for FCA in order to get the Agnellis out of the auto business while it was still possible - though these statements were around 2013/14 when most could see trouble was ahead. To imply something similar in *1999* is very creepy.
The F250 has a big block as does Ram and chevy. The reason dodge has a bunch of inventory cause all them V8's are junk
ALL THAT GREED CATCHES UP WITH YOU.
If they didn’t pay off your car then you shouldn’t have to pay for your car 💯
Now is not the time to buy!!!
Bro , im afraid to pay cash for a new truck or even putting 75% down. I dont want to get fucked. Might just put 9k down finance the balance make some big payments
It’s all about the greed.
I had been waiting and watching car prices for the last few years, watching the insanity from the sidelines. Luckily my old car was reliable, and just needed a few minor repairs to keep it going a few more years. The Subaru dealerships had low inventory during the nonsense, but they didn't list any cars over MSRP or add in nitrogen or overpriced door guard addons. When all of Subaru dealerships started listing their cars below msrp with great financing deals this spring... i stopped in and picked out the exact car i wanted. As we were signing the papers, I told the finance guy that I had appreciated the way they handled things the past few years, which is one of the reasons I was buying from them. Karma is a b*tch... and many of these dealers deserve what they get.
Well I for one think they deserve what's coming. It takes three to play this game, #1 the car manufactures are way overinflating the MSRP , sure costs have gone up but no way it costs $20.000 more now that it did to build that same vehicle say 5 years ago. Second you cant but a car now without being subjected to dealer " add ones ". Yes a smart car shopper can avoid them but most fall into trap and end up paying thousands on top of the jacked up MSRP.. #3 and this is the worst thing, the banks are giving out loans WAY above the value of the vehicle. There used to be an old saying that the minute you drive of the showroom floor , you lost $1000 of the car value, We'll know when you drive away you are all ready 5-10 thousand underwater.
Why don't these car companies build dependable cars and trucks that people want without all the electronic junk at a price people want to pay. They are saving me a lot of money as there is no new car that I want and I have no intention of ever buying a new car again. I have a 2004 Marauder that is just pure power and luxury for 20 years now, a 2006 Mustang GT Convertible, a 20014 Challenger GT all of which I get compliments on just about anytime I go anywhere with them, and the last good Dodge Grand Caravan as my everyday car all without the electronic garbage to break and the poor quality and crazy prices that all the new cars seem to have lately. I used to change my cars all the time and now I don't even want to drive or ride in a new car.
Doesn t matter the brand interest rates are high and cars are over priced....simple.
The Federal Government has protected the big guys, including themselves
Public and Private debt has financed a huge amount of the economy.
The federal and state government has distorted labor costs by funding projects at 3x and by pissing taxpayer money away.
Where exactly is the magic bean coming from to fix this?
The only way I see out of this is across the board bankruptcy, Federal-State, Business-Private.
I smell another bailout😂
The manufactures are asking to much for the JUNK they are selling, not worth HALF of the MSRP to start with. GREED is all it is. One other thing I wouldn't want the Demon 170, I've owned a Dodge product years ago and will NEVER waste my money on another one. Daughter is finding out the hard way, she owns a Ram 1500 2020 model and is having LOTS of issues and recalls. Just pure JUNK
Ok, to anyone trading in a vehicle and still owes money on that vehicle be very careful, you are trusting the dealership to do what they say they're gonna do, as for these new vehicle dealers thinking after the election, the economy is going to get better, they're smoking something
Ford dealership going bankrupt On Floor Plan that’s Crazy
God said to not be greedy
It's well deserved by all the car makers, and the banks backing them.
Buy used unless they are new selling for 10-12000.00 new then buy
Any comment on Tim Kiniskis retiring from Dodge?
Literally an entire video on it on the channel lol
@@TKsGarage i found it after I posted my comment, It was just too important to be ignored, so I figured it was time to let my fingers do some walking until i found it.
It's all that money they gave to "THE ROCK"....
Dealers screwing over people during good times and bad times it seems.
Ford quality has been declining and that big UAW raise is not going to do anything to make the workers care about quality. The UAW cares only about collecting union dues and cares nothing about the product because they treat the company as the enemy. People have stopped buying the Bronco and they haver a glut of F150s spread across dealership lots.
BUT YOU GUYS!!! WE DONT WANT SMALL CARS!!! WE WANT BIG BIG BIG TRUCKS AND V8'S!!!!! Ford said so themselves thats is what WE want!
For the last few years dealerships have been taking part in FAFO along with low IQ buyers. Unfortunately those of us that didn't play the game will be bailing out the industry AGAIN. After getting 2 ordered vehicles sold out from under me Ford is the last place I'll go when it's safe to buy again.
When my car payment is higher than my mortgage and taxes you know car manufacturers and dealers greed has eclipsed reason and business sense. They killed their golden goose or roasted them to a crisp. No sympathy here.
iam shock to here that
Trying to wait 8 months to get Joe out of office isn't going to save these dealerships.
Let the dealers go bankrupt. Then the employees can get a job where their six figure salary has to be earned by their level of skill and knowledge and NOT from screwing customers with BS add ons and fees that pump up their commission. You can't bully a customer into $$$$ Nitrogen at a job that requires a hint of ethical honesty.
Declare the car stolen.
only ignorant people waste their money on american cars.
Good riddance! I thought this was America? I thought we practice capitalism here, supply & demand in this country?
We do when companies like Ford/GMC/Stellantis decide they can get more because the market is in their favor! When the market is in the peoples favor they resist to follow the market and ignore the signs. I’m tired of the level of greed to the point they rather let their inventory rot away then doing the right thing and follow todays market value.
Yesterday’s price is not Today’s price!!!!
Yeah politically you might see some new laws that finally pacifies these dumb dealers 😂
1st 😂
The GDP grew by 1.6 economy is not going in the toilet. Lowest unemployment ever inflation is coming under control.
Lmao. Seek mental help
Sarcasm I suppose? You cannot be serious.😁
GDP is a total joke measurement. It includes OER which is absurd. And the US Government is borrowing and spending 1 trillion dollars every 100 days to boost GDP. And the employment numbers are also a pure shame. The household and establishment employment survey's tracked each other for years but now there's a massive divergence.
FJB!
Sue them in to the dirt.
Great. Let them all go under. Dealerships have been screwing the people for years. Now they pay the price. The lowest form of anything is a car manager and car salesman. Have fun in the unemployment line.
@stevelehto hey sounds like someone needs help