bank seizure of dealership
#1
bank seizure of dealership
So for a few of you.. you have heard my dealership stories. my inside infoof the "stealership"
so i have a story.... well im on my way to work this am and i get a call from a fellow co worker... who tells me bad news!!!! and i could barley hear him so i say il be there in 2 minutes il talk to u then... CLICK
so i pull up to work and the sherrifs police has the place surrounded and im like WTF?
so i park and get out and at the same time my Forman pulls up and has the same frantic glare in his eyes.. so me and him have a word with the sherrif. and he tells us that the delaership was in debt for 12 millllllllllion dollars and had so way to recover it so the bank is seizing 77 new cars. 107 used cars
all parts, furiture, fixtures and any other property deemed ness to recoupe as much money as possibble..
so me and him are like WHAT ABOUT OUR TOOL BOXES!!!!!!!!!!!!!!!!! i know i have upward of 55 60 thousand dollars in tools, box. and other equipment. and the formans box is HUGE! so i dont even wanna know how much is in his.
so we walk around to the other side of the dealership where the rest of the employees are and pretty much sat there for 2 hours waiting to see if we could get our stuff... finailly after 3 hours the cheif sherrif say u can remove your personal items as soon as were done most likely the end of the day.. so we decided to go sit down and have breakfast... so we used our nextels to chirp the parts manager who was first employee on scene and was the only one allowed inside all day... so we told him to go to the cashiers office and grab the keys to the limo whos owner had brought it in to have a window fixed ( yes its a vw dealer but our manager thinks we are a carmax) so he sneeks the keys to the limo out and werode to breakfast in style so after that we get back and we were allowed to remove our boxes...
needless to say im out of a job, will NOT be recieveing my 2 weeks pay for owed vacation. nor will ibe getting pay for the last 2 weeks of work since there is NO money.... not a happy camper... so im looking for a vw dealer to work for. but its SLOW everywhere.. no ones hireing well one dealer is but its 55 miles from my house i dont wanan drive an hour and half each way i mean if i have to i have to i got billls topay but im looking closer...
thats just my rant for the day.
so i have a story.... well im on my way to work this am and i get a call from a fellow co worker... who tells me bad news!!!! and i could barley hear him so i say il be there in 2 minutes il talk to u then... CLICK
so i pull up to work and the sherrifs police has the place surrounded and im like WTF?
so i park and get out and at the same time my Forman pulls up and has the same frantic glare in his eyes.. so me and him have a word with the sherrif. and he tells us that the delaership was in debt for 12 millllllllllion dollars and had so way to recover it so the bank is seizing 77 new cars. 107 used cars
all parts, furiture, fixtures and any other property deemed ness to recoupe as much money as possibble..
so me and him are like WHAT ABOUT OUR TOOL BOXES!!!!!!!!!!!!!!!!! i know i have upward of 55 60 thousand dollars in tools, box. and other equipment. and the formans box is HUGE! so i dont even wanna know how much is in his.
so we walk around to the other side of the dealership where the rest of the employees are and pretty much sat there for 2 hours waiting to see if we could get our stuff... finailly after 3 hours the cheif sherrif say u can remove your personal items as soon as were done most likely the end of the day.. so we decided to go sit down and have breakfast... so we used our nextels to chirp the parts manager who was first employee on scene and was the only one allowed inside all day... so we told him to go to the cashiers office and grab the keys to the limo whos owner had brought it in to have a window fixed ( yes its a vw dealer but our manager thinks we are a carmax) so he sneeks the keys to the limo out and werode to breakfast in style so after that we get back and we were allowed to remove our boxes...
needless to say im out of a job, will NOT be recieveing my 2 weeks pay for owed vacation. nor will ibe getting pay for the last 2 weeks of work since there is NO money.... not a happy camper... so im looking for a vw dealer to work for. but its SLOW everywhere.. no ones hireing well one dealer is but its 55 miles from my house i dont wanan drive an hour and half each way i mean if i have to i have to i got billls topay but im looking closer...
thats just my rant for the day.
#2
RE: bank seizure of dealership
also i forgot to mention that i realllly feel bad for the customers who had brought therre cars in for service....
i know i personally had 2 vehicles a 2002 passat which needed a steering rack and 2 cv joints, and a 2006 toureg which needed knock sensors the passat has the rack and pinion sitting on the floor and the toureg has the top of the engine removed.... we were not allowed to touch them or finish them???? so i dont know what gonna happen theres no longer anyone in the shop to be contacted for them to get there cars back??? niether one of my cars are moveable by there own force. and i just dont know....
i know i personally had 2 vehicles a 2002 passat which needed a steering rack and 2 cv joints, and a 2006 toureg which needed knock sensors the passat has the rack and pinion sitting on the floor and the toureg has the top of the engine removed.... we were not allowed to touch them or finish them???? so i dont know what gonna happen theres no longer anyone in the shop to be contacted for them to get there cars back??? niether one of my cars are moveable by there own force. and i just dont know....
#3
#4
RE: bank seizure of dealership
Don't loose all hope. VW may step in and assist another dealer at taking over this mess and getting the dealer operational again. No I don't have any inside info, I'm just speculating on the positive side. I hope for the best for you and your co-workers. Keep us posted.BTW, if you can contact the customers whos cars are stuck there, and tell them to call VW and raise cane that might start the ball rolling and I'm sure the customers would be very grateful.
#5
RE: bank seizure of dealership
The customers' cars that are "stuck" there should be fine once all the smoke clears. The bank can't seizeassets unless they're actually owned by the dealership. That's why we have titles to our cars. Even the new carsshould be safe from seizure. From what I understand, the dealerships don't actually own the new cars that they sell; there is some kind of intermediary that owns the new cars until they are sold. The bank can seize all the used cars that were traded in, and any other vehicles in which the dealer actuallyhas the title.
Sorry to hear about this problem. Good luck to you and the other VW employees who were affected.I'll bet that VW is scrambling to find another owner to step in and take over.
Sorry to hear about this problem. Good luck to you and the other VW employees who were affected.I'll bet that VW is scrambling to find another owner to step in and take over.
#7
RE: bank seizure of dealership
ORIGINAL: jimmydaleo
Why not start your own mobile mechanic business until someting comes along? Then you will always have side work after that.
Why not start your own mobile mechanic business until someting comes along? Then you will always have side work after that.
If you could somehow get ahold of the customer list from the dealer you'll be WELL on your way since I'm sure all of these customers will be scrambling to find someone to work on their cars ... someone who already KNOWS their cars.
Dude this COULD work out to be the best thing that's ever happend to you !!
Best of luck !!
Trending Topics
#8
RE: bank seizure of dealership
dixiedodge7369
not sure whatstate you reside in, but I bet you could at least file a tradename with the state (check with the secratary os state or equivalent office). the trade name is not a proclomation of incorporation or sole propriotiship, just tells the state that you have a company in the infant stage.
now use your CTD and load up the tools!
slap a magnetic decal on the sides for VW MOBILE MECHANIC...including AUDI (and other vw made cars). now if your here in Phoenix, AZ, theres plenty of wirk at VW. even on the guys AIRCOOLED classics that we so cherrish here!!!
GOOD LUCK ON THE NEW ADVENTURE!!!
(see my states Sec of S site for example...http://azsos.gov/ , http://azsos.gov/business_services/tnt/TNTHBook.pdf)
not sure whatstate you reside in, but I bet you could at least file a tradename with the state (check with the secratary os state or equivalent office). the trade name is not a proclomation of incorporation or sole propriotiship, just tells the state that you have a company in the infant stage.
now use your CTD and load up the tools!
slap a magnetic decal on the sides for VW MOBILE MECHANIC...including AUDI (and other vw made cars). now if your here in Phoenix, AZ, theres plenty of wirk at VW. even on the guys AIRCOOLED classics that we so cherrish here!!!
GOOD LUCK ON THE NEW ADVENTURE!!!
(see my states Sec of S site for example...http://azsos.gov/ , http://azsos.gov/business_services/tnt/TNTHBook.pdf)
#10
RE: bank seizure of dealership
yea the customers got there cars towedout inpieces and we told them to go to the nearest dealer and they w ere only charged for parts no labor. yea the mobile mech may be a good idea but i think id waste to much time driving. i got a few leads to to vw dealers so all shall beok soon I HOPE>
thanks for the consern! just proves that you never anyday u could walk in to work and it wont be there. so be prepaired i waslucky and i have enought o cover my bills for a few months with out income..
thanks for the consern! just proves that you never anyday u could walk in to work and it wont be there. so be prepaired i waslucky and i have enought o cover my bills for a few months with out income..