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View Full Version : Chevrolet's Largest Dealership Closes


trickskier
09-30-2008, 08:37 PM
Bill Heard Chevrolet -- Chevrolet's Largest Dealership has closed all of it's dealerships and put 3200 people out of work.
See link below:

http://www.billheard.com/

JohnE
09-30-2008, 08:40 PM
Gee Rick, thanks for brightening up yet another night here on TT.

dapicatti
09-30-2008, 08:42 PM
Something to do with lack of financing......and GMAC.

ski_king
09-30-2008, 08:42 PM
Weak companies die when times are tough. From the little I read, I would say they have been mismanaged.

dapicatti
09-30-2008, 08:45 PM
That and remember money is really tight right now.....wouldn't be surprised to see what else happens with all of the markets as tight as they are.......

trickskier
09-30-2008, 08:46 PM
Weak companies die when times are tough. From the little I read, I would say they have been mismanaged.

I don't know about that. I do know the dealership in Sanford, FL was huge. They had to have several hundred vehicles in inventory.

dapicatti
09-30-2008, 08:48 PM
It all costs money to floor.......

bcampbe7
09-30-2008, 08:48 PM
Weak companies die when times are tough. From the little I read, I would say they have been mismanaged.

The worst of the worst when it comes to car dealers. Do a little research and you will find that Bill Heard should have been shut down long ago. They made unethical behavior the main aspect of their business model. Karma!

trickskier
09-30-2008, 08:51 PM
It all costs money to floor.......

Do you know the difference between flooring charges and curtailment?

bcampbe7
09-30-2008, 08:54 PM
I have heard (no pun intended) that it was costing them $2.5M per month! Even Steve could not float that for too long!

TX.X-30 fan
09-30-2008, 08:56 PM
Dirt bag dealership, law was all over them in Houston. Let people take car then a week later take it back and then they could not find the trade in. Bait and switch place just like Landmark in Houston which is gone also. Gmac can't find a lot of money or autos. Same as the mtg. deal they dealt in sub prime auto loans, in other words people that should have been on huskey's.

bcampbe7
09-30-2008, 08:57 PM
Dirt bag dealership, law was all over them in Houston. Let people take car then a week later take it back and then they could not find the trade in. Bait and switch place just like Landmark in Houston which is gone also. Gmac can't find a lot of money or autos. Same as the mtg. deal they dealt in sub prime auto loans, in other words people that should have been on huskey's.

They did the same thing in Nashville.

ShamrockIV
09-30-2008, 08:57 PM
ours had already been closed due to shady fianancing deals. they would trade with you then call you up like a week later and tell u the deal did not go through but they had already sold ur trade in!! it was all over the news. the state was investigating!!

TX.X-30 fan
09-30-2008, 08:59 PM
They have been cash only for a while on cars, good riddance. Father in law lifer with GM and I used to live very near the sugar land place.

6ballsisall
09-30-2008, 08:59 PM
The worst of the worst when it comes to car dealers. Do a little research and you will find that Bill Heard should have been shut down long ago. They made unethical behavior the main aspect of their business model. Karma!

Yes, done business with them when we bought the Tahoe. Very slimey. Better Business Bureau gave them an unsatisfactory / Red Flag rating a few months ago. They had over a 113 open complaints, whereas all the other big dealerships in Atlanta combined had 10.

trickskier
09-30-2008, 08:59 PM
Sounds like he got what he deserved.........................However, I do feel sorry for the HONEST employee's.

6ballsisall
09-30-2008, 09:01 PM
Sounds like he got what he deserved.........................However, I do feel sorry for the HONEST employee's.

Yep..........

TX.X-30 fan
09-30-2008, 09:01 PM
That's very true as do I tricky.

CHaus21
09-30-2008, 11:58 PM
I'm in the car business - This guy was always known as the being the biggest crook in the car business. He owes the state of Georgia alone $50 million for deceptive advertising... No wonder GMAC pulled the plug on him..

dapicatti
10-01-2008, 01:39 AM
Do you know the difference between flooring charges and curtailment?

Wasn't trying to go there, but clearly that's what happened.

LakePirate
10-01-2008, 07:05 AM
He sent out false recall notices.

The Bill Heard Policy was everybody gets a loan.

They need to pay up.

coz
10-01-2008, 07:31 AM
It wasn't the economy that shut him down :confused: after ripping people off for so long it finally caught up with them http://www.ripoffreport.com/reports/0/038/ripoff0038266.htm

I've been hearing about the scottsdale dealership since I've been here, later Bill :D

acornellier
10-20-2008, 06:06 PM
Bob Wilson Dodge here in Tampa has closed.Heard rumors some of the Autoway dealerships may be closing.

88 PS190
10-21-2008, 01:20 AM
They may have been dirty. I don't know, but local car dealerships in our area our really hurting, and oddly the manufacturers keep trying to make them build bigger dealerships, or buy more stock, which increases their overhead. Its just a mess.

Maristar210
10-21-2008, 08:18 AM
I have heard (no pun intended) that it was costing them $2.5M per month! Even Steve could not float that for too long!

Steve who? Steve Garvey? Steven Wright? Steve the plummer? Stevie Ray? 8p

Which fricking Steve?:D


(Hey you. Yeah you. The guy with the one wandering eye, where are you looking? You looking at me or over there?

What the heck 8p

SNOOTYSKIER
10-21-2008, 09:21 AM
Big bucks. Big Bucks.

Maristar210
10-21-2008, 09:37 AM
Big bucks. Big Bucks.

Damn you Snooty.

Getcherazz over to the Bayliner forum post haste

SkiDog
10-21-2008, 09:42 AM
Damn you Snooty.

Getcherazz over to the Bayliner forum post haste

mari, are you on the BL forum?:D And how did you know bout that one?:confused:

atlfootr
10-21-2008, 10:21 AM
He sent out false recall notices.
The Bill Heard Policy was everybody gets a loan.
They need to pay up.
Case in point ... although it was 2007

Have You "Heard" of a Chevy Recall?

Check Again.

Car dealer accused of sending phony recall notices
Associated Press - July 10, 2007

ATLANTA (AP) - A consumer protection agency has filed a lawsuit against a car dealer, claiming the dealer sent out phony recall notices in a bid to increase sales.

The lawsuit was filed Friday by the Governor's Office of Consumer Affairs against Bill Heard Chevrolet and is the first lawsuit the agency has filed against a car dealer since 1975.

Last fall, 10,000 Georgia car owners received what appeared to be a flier from General Motors announcing an "Urgent Potential Recall Notice."

In fact, there was no recall and the flier was NOT from General Motors. State regulators say it was the latest in a 16-year pattern of deceptive sales pitches by Bill Heard Chevrolet, the largest car dealer based in Georgia.

The lawsuit says the October mailings were meant to trick car owners into thinking their vehicles were unsafe. Instead, the dealership was simply trying to sell new vehicles or service plans.
Full Article: http://www.wistv.com/Global/story.asp?S=6766565

http://www.reviewjournal.com/lvrj_home/2001/Jun-16-Sat-2001/photos/dealership.jpg

wakeX2wake
10-21-2008, 10:26 AM
he had a dealership here in Huntsville, Al as well and a buddy of mine went and bought a new Yukon from them and got a call back like 6 months later about a recall... so he called GM to check it out and there was no recall and he took it anyway and as soon as he walked in they were telling him what a time bomb he was driving that he "might want to consider a new vehicle"... hahaha he looked at the service manager and told him to give them his keys back that there was nothing to check out as he'd been in touch w/ GM already... turns out they were mailing out massive recall cards w/ no recall on record but to get people back in the dealership and charge them for the "check out" and get the fall out from that (tires, oil change, shocks, etc) and possibly sell them a new car... my friend said i may only be 24 but ANY body who fell for that didn't need to be on the road hahahaha... sad thing is... there's a lot of those out there

TMCNo1
10-21-2008, 10:29 AM
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Harvey
10-21-2008, 11:19 AM
Bob Wilson Dodge here in Tampa has closed.Heard rumors some of the Autoway dealerships may be closing.

I spent the last 8 years in sub prime auto lending. I can tell you first hand that at my last employer we cutoff both of these dealerships for deceptive practices and shady loan documentation.

As for Bill Heard, it was well known that they were in the deceptive lending business. They have commited enough bank fraud to put a large portion of their finance departments behind bars. At the two lenders I worked for we threatened to cease business dealings with them on MULTIPLE occasions but we couldn't single out one store and cut it off. They would pull all the stores across the country if we cut off one, so we were forced to keep the bad stores to have access to the large volume of good paper from the few stores that were on the level. It was a bad deal all around, I spent a good amount of time closely monitoring the quality of credit and the loan documentation that came from stores, like Bill Heard, that were suspected of deceptive or predatory lending.

Even the good sub prime auto lenders are going to go down in all this due to the financial world bundling sub prime paper from mortgages together with autos. Even the lenders that didn't have their loans securitized with bad mortgages are still subject to the hesitancy of the markets to invest in sub prime loans of any kind.

The whole thing just burns me up, mainly because it put me out of work for 4 months and now that I am back to work it is for a LOT less money and I am looking at going back to school to retrain in another field that is more stable.

MIMC
10-21-2008, 04:22 PM
Heard was the first of many to close, not defending Heard in anyway, but it is anticipated that another 600-700 more auto retailers will close in the 2009 calendar year. Being with the Big 3 since 1991 I can tell you things are rough, very rough! :(

Just thought I'd share my 2 cents.

MIMC

Harvey
10-21-2008, 07:34 PM
If Cerberus closes the deal on Chrysler with GM there will be a lot more than 900 dealers closing. They can't justify keeping a dealer base of 10,000 with the amount of cars that are being sold. There is a huge shakeup in the auto industry as a whole, coming very soon.

Ric
10-22-2008, 01:33 PM
Dirt bag dealership, law was all over them in Houston. Let people take car then a week later take it back and then they could not find the trade in. Bait and switch place just like Landmark in Houston which is gone also. Gmac can't find a lot of money or autos. Same as the mtg. deal they dealt in sub prime auto loans, in other words people that should have been on huskey's.
Landmark was a bill heard company, just kept the name landmark.