Client: Steven, I just got a letter from an attorney because we messed something up. Steven: Uh oh. What happened? Client: We bought a car at auction, put it on our website, and sold it before we got the title from the auction. Now we are past the deadline to transfer title and the customer […]
Sometimes transportation of a vehicle from an auction to your lot can go awry. In this video, I tell two of my favorite stories about crazy cases involving vehicle transport. Trust me – they’re wild. Check out this short video to find out what happened. Below is a transcript of the video: Now we’re […]
Did you know that Georgia is Manheim’s number 1 United States market? It is true. What does that mean for you? It means that buying cars from Georgia auctions can be difficult, competitive, and expensive. Thanks to advances in technology, it is very easy to purchase cars from auction locations outside of Georgia. In this […]
Auctions are generally the necessary evil when it comes to putting cars on your lot. Auctions provide basic inspections but if you find something is wrong, you have to act quickly to address the issue. In this video, we discuss auction basics like the difference between in-person and online and which is preferable. Click the […]
How does the Floor Plan enforce its interests? REPO! Repossession is not limited to consumers who default on their car notes. It also happens when dealers default on their Floor Plan obligations. Don’t be the victim of a Floor Plan Repossession. Learn more below. Below is a transcript of the video: When we think […]
Using your local bank for Floor Plan Financing may not be all roses and butterflies. Your local bank may require you to pledge other assets in order to get dealer financing. What does that mean? Simple. You could lose your house if you default on your Floor Plan. Check out this three-minute video for tips […]
Feeling stuck with a big, nasty, abusive Floor Plan provider? Think there’s no better option? Think again! Your best option for financing may be your local bank. In this video, we explain why. Below is a transcript of the video: In an earlier video, I was talking about the sources of floor plan financing […]
In our last video, we discussed what a Security Interest is. Now let’s talk about what it means for you. When you give a Security Interest to your Floor Plan provider, it likely extends beyond the cars on your lot. Depending on your arrangement, the Floor Plan provider may have the right to seize other […]
Did you know that there is an entire area of law focused solely on something called Security Interests? Most people don’t and I can’t blame them. It is dry and extremely complicated. Watch this two-minute video to get the basic gist of what Security Interests are and why they’re important. Below is a transcript […]
Be very careful when obtaining Floor Plan Financing. Sometimes it is a necessary evil. We can’t tell you how many times we have come across cases where the dealer has fallen behind on their payment obligations and it has caused big problems in the dealership. Watch this brief video to learn more. Below is […]
