Train Derails- HD's Damaged!

[Blue2500CC]

Didn't see this posted anywhere yet. Hope no members who are waiting on their truck to be delivered are affected by this!!!

 

http://www.mlive.com/news/flint/index.ssf/2015/11/derailed_durand_train_was_carr.html#incart_river_mobile_home

 

Sad thing is this is barely west of the truck plant. The trucks barely started their journey to the dealers!!!

[Tattooo]

That sucks

[Doug64]

Very sad. What will GM do with the ones that were not totaled?

[Stevens03]

Well that's sad but they'll be replaced.

 

Sent from my XT1254 using Tapatalk

[SMiller]

Damn!

 

Glad I live close by so mine comes via semi.

[Z45]

Very sad. What will GM do with the ones that were not totaled?

Once vehicles are loaded for transport, they become property of the dealerships that ordered them, Wickham said. The dealers will have to let GM know how many trucks need to be replaced.

[SMiller]

Once vehicles are loaded for transport, they become property of the dealerships that ordered them, Wickham said. The dealers will have to let GM know how many trucks need to be replaced.

Seems how GM owns 80%+- of the trucks on dealer lots I do not believe that.

 

Very few dealers buy/finance the vehicles on their lots. If the dealers quickly turns trucks then they can make money off of GM holdback, if it sits then it is a draw.

[Z45]

Well I guess General Motors Spokesman Tom Wickham does not know what he is talking about.

[Silverado4x4]

The dealer does not own the trucks that sit on there lots they are owed by GM till there sold. The railroad insurance company will cover the damaged trucks.

[SMiller]

The dealer does not own the trucks that sit on there lots they are owed by GM till there sold. The railroad insurance company will cover the damaged trucks.

Kinda/not really, each dealer has the option to buy the vehicle from GM, for instance my local GM dealer buys every vehicle from GM and has financing through a major bank at 3%, there are several advantages $$$ to this although it is a bigger gamble.

 

What is super crazy is that the dealer must pay for the vehicle in full once the Vin number is assigned to it meaning it is paid in full while being assembled SO the dealers that "buy" their own vehicles will be out their money until the railways insurance company cuts them a check otherwise it will be GM themselves waiting on the railways insurance.

 

In the end what GM is saying is true except for those dealers that purchay their own vehicles but regardless both the dealer and will be waiting on the railways ins.

 

This is more common then you might think, lots of brand new vehicles have fallon of ships in bad storms, that is why they are insured.

[crankman]

Dang that made me hurt just looking at the pics. Some nice trucks seem to be damaged in the same place.

[SleeperZ71]

Will they rebuilt....and what will the car fax report say? Wow...just wow

[galliher_nc]

The dealer does not own the trucks that sit on there lots they are owed by GM till there sold. The railroad insurance company will cover the damaged trucks.

No, they're owned by whomever the dealer finances their inventory with. Most GM dealers use Ally or GM Financial to floor plan their inventory.

 

These vehicles will most likely hit the salvage auction, be rebuilt and either sold for a profit by a rebuilder or an individual might buy it as a way to get into a 'new' truck on the cheap.

Will they rebuilt....and what will the car fax report say? Wow...just wow

Yes, it'll show it as having a rebuilt title and/or salvage history.

[AhuraPro]

UP owes GM their pre-agreed value for these trucks. They will be scrapped.