Friday, May 29th, 2009...2:06 pm
Any Good News from Saturn?
I am getting tired of hearing about stores closing! The latest is Saturn of Olympia in Washington. They are cutting Saturn loose because they don’t want to happen to them what has happened to so many Chrysler dealers…..once the Corporation files for Chapter 11 protection, the dealer agreements are null and void.
This means that the part of the agreement that says that if a dealer closes, the manufacturer will take back new vehicles and parts, doesn’t exist anymore! The dealer would then have to sell whatever “new” vehicles he has as “used” vehicles, with no incentives or factory support. And to make matters worse, banks may decide to not finance those vehicles as “new”, even though they have never been titled.
The Saturn retailers who are hanging on and waiting for a new owner may be sadly surprised if things don’t happen the way we all hope they will.
Here is the story from The Olympian: * FULL STORY *
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