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In The Media

Pulling Lines of Credit from Car Dealerships

by Larry Chiang on April 9, 2023

From a fellow dealer:
“Capital One, Ally, Santander and Next Gear Capital have started pulling inventory floor plans from dealers.
Some dealers have no availability to grow and very little runway to operate without more lending.
Lenders been hurt by companies like American Car Center folding.
Next Gear holds 2200 cars tied up in American Car Center BK alone. 
Seems to me way more to come.
Feel free to use the info but please leave me out if you do. I enjoy reading and following you.”

 
 
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CarDealershipGuy
⁦‪@GuyDealership‬⁩
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From a fellow dealer:

“Capital One, Ally, Santander and Next Gear Capital have started pulling inventory floor plans from dealers.

Some dealers have no availability to grow and very little runway to operate without more lending.

Lenders been hurt by companies like American Car…

 
4/8/23, 7:32 PM
 
 

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