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re: Is now a good time to buy a new truck in BR?
Posted on 8/19/16 at 11:41 am to CP3
Posted on 8/19/16 at 11:41 am to CP3
I dont' have an answer to your question and this is going to be somewhat of a hijack, so I apologize for that.
But what happens if/when a car lot gets completely flooded and they lose basically all their inventory? Do they get some sort of "bailout" help or do they just lose a frick ton of money?
But what happens if/when a car lot gets completely flooded and they lose basically all their inventory? Do they get some sort of "bailout" help or do they just lose a frick ton of money?
2
Posted on 8/19/16 at 11:49 am to WG_Dawg
quote:
But what happens if/when a car lot gets completely flooded and they lose basically all their inventory? Do they get some sort of "bailout" help or do they just lose a frick ton of money?
I found this in the google machine, but I'm sure there's more than one answer to your question.
quote:
Dealers’ open lot, also known as auto physical damage coverage, provides physical damage coverage for vehicles owned by a dealership.
Posted on 8/19/16 at 11:53 am to WG_Dawg
quote:
But what happens if/when a car lot gets completely flooded and they lose basically all their inventory? Do they get some sort of "bailout" help or do they just lose a frick ton of money?
I have a buddy that is a service manager at a dealership. He said they have a policy to cover the damaged cars, but the deductible is a couple hundred thousand dollars. Also, It caps off at a couple million dollars. Depending on the lot size / vehicle types, I don't know that $2-3mm would cover everything.
Not sure how they recoup the remaining losses.
This post was edited on 8/19/16 at 11:54 am
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