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| Automotive Discussions Car People talking about the Car Business – This is the place where it happens |
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| Automotive Discussions Car People talking about the Car Business – This is the place where it happens |
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03-31-2008, 10:59 AM
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Administrator
Join Date: Nov 2007
Posts: 14,869
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Failure of Lanelogic
Automotive News is reporting that it appears that Lanelogic is closing their operations, although there has been no official confirmation from the company.
Lanelogic operated as a wholesale broker that would guarantee the value of used vehicles for a fee. Participating dealers could return vehicles that they purchased from Lanelogic after a specified period of time and get their money back. Like the real estate market, this program worked well when wholesale prices for used cars were increasing, but recent market trends put pressure on the company. Does anyone have any experience with Lanelogic? |
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