Wife told me today that Bill Heard/Landmark Automotive group is closing all of their stores, 13 total. It affects 2700 employees. They were the largest Chevy dealer in the nation.
I couldn't find the link, but I wonder if it is because of the economy or if the judicial system shut them down because of false advertising. I'm glad for the more reputable Chevy dealerships.
Economic troubles. Article mentioned some of their legal issues, but the main issue was the credit crunch combined with excessive truck/SUV inventory with $4 gas.
This had very little to do with the economy. Bad business practices finally caught up with them.
As I said in an earlier post, you know you're screwed when your main source of lending (in this case, GMAC) pulls all support for your dealerships. This means no financing, no incentives and no floorplan assistance (meaning they have to pay cash for all of the new inventory they accept).
I am sorry for the good employees who are now looking for employment. Never dealt with Landmark, but as for Bill Heard... Ain't gonna miss em. Maybe a reputable dealer will take over their operations.
Glad to see Landmark finally get what they deserve. Bought a Pontiac from them about 7 years ago. They took my trade with no problems. Then about 4 days later they called me up and said there had been a mistake and I needed to come back to correct it.They added on an extra few $k on the price of the of the sale. When I said no and asked for my old APV back they told me that it was already gone and that I had no choice but to pay the difference. So good by and good riddance to the crooks.
Bill Heard is going to reopen under a new name Sugarland Chevrolet, one of the Heards son is buying it and renaming it and has financing! So still be careful!
Honestly I think that Bill Heard and dealerships like them do more harm than good to the economy. "we'll take your trade no matter how much you owe" they are encouraging people to take a loss on a vehicle so that they can sell them another. and role the difference into the balance. they end up buying a 15000$ car for 22-25000$ and getting that much further behind. I know people who have rolled 10k from one vehicle to another. That's insane and to them it's day to day business. to me that seems to be a lot of our problem these days, got to have things right now. No wait. A found out a few years back, bad credit is a good thing, makes people have to manage their money and think about what they are buying. just my .02$
GMAC revoked their hall pass... that's not just economic times, that is a problem with a dealership....
i bet that guy in the van is glad to see them gone... BBB as well, no more 'bill heard/landmark hotline'.....
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