Reedmen Chevrolet in Langhorne PA

[olredalert]

------Most dealerships floorplan thier cars with a lending entity.Most GM dealerships use GMAC,but they dont have to.A different division than the one you and I might use.If Reedman has deep enough pockets to finance themselves they will eke out a little bit more profit.This is generally the sign of a very financially solid dealer.
------Conversely(at least in my day)a dealer owned his used inventory outright.If a dealership had to floorplan the used and new inventory it was considered to be on shaky ground!Dont know that has changed over the years.Dont think so.............Bill S

[hvychev]

Bill you are right on. The extra "profit maximizing" comes from the interest savings that the dealers get by not having to floor plan their inventory. You don't have to use GMAC if the dealer is in with a local bank. They might floor the cars with them if they get a better deal but flooring your car with your captive lender has other benefits.

BTW most soures have a period of 90 days before they charge juice on a car. That's why most of you have heard some dealers say that you might get a better deal if you order a car. In and out.

[Verne_Frantz]

Bill,
Just one minor point. I don't believe Reedman's took title to their used cars. When I bought my used '62 Impala from them in July '68 they just flipped the title. It was still in the previous owner's name, and he had signed it.
By the way, the car still has the metal emblem on the trunk lid.
Verne.