now, where did we park the car?

Dealerships here and there are seeing their inventory of cars taken back by the manufacturer. It turns out that dealerships use something called “floor plan” loans to get their inventory – they don’t own the cars, the manufacturer does – and that financing is now difficult to secure. Also, manufacturers are concerned that if a loaned car is sold and the dealer declares bankruptcy, they won’t get paid for the car. So there must be a mothball fleet of cars gathering someplace.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s