Dealer rejected by GMAC finds flooring with BB&T Bank

[XDCX]

News reports indicate that M&L Motors of Lexington S.C. has found a flooring source to replace Chrysler Financial - the dealership had been rejected by GMAC. Here's a link to the full report - click here (http://www.the-dispatch.com/article/20100615/ARTICLES/6154032/1004?p=1&tc=pg)

The Dealer Principal indicates that BB&T Bank has issued the dealership a floorline which has allowed them to order new vehicles from Chrysler.

I think it's great news to hear there are banks that are once again getting back into the wholesale financing business. Maybe the credit markets are starting to thaw after the deep freeze of the past 18 months?

[crowe]

Their in Lexington NC. We used to trade a lot with M&L. These are good guys,110%. Glad to see them back.

BB&T is one of the few banks left where a good relationship & character counts.

[ohiobuckeyes]

Their in Lexington NC.
BB&T is one of the few banks left where a good relationship & character counts.

Your right on that one Crowe.

From the looks of their Google Earth Street View picture use to stock a lot full of vehicles. That sucks good dealerships got stuck in the middle of the CFC and GMAC divorce.

Its great to hear good news about your local dealership.

[XDCX]

Their in Lexington NC.

Oops.... Thanks for catching my mistake. :o


We used to trade a lot with M&L. These are good guys,110%. Glad to see them back.

I'll send them an e-mail and invite them to the forum. I bet they're happy to have the CF nightmare behind them.


BB&T is one of the few banks left where a good relationship & character counts.

It's good to know that there are still a few banks left that look beyond the Financial Statement and work with the dealer to find solutions.

It's also good to know there are banks willing to extend floorlines again. I know there are still four of five Chrysler stores in California that don't have a flooring source and Chrysler has done NOTHING to help them.