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Old 06-06-2009, 09:28 AM   #1
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Default GMAC termination

We just received a letter on June 5th from GMAC terminating us because Chrysler has rejected our franchise agreement. Does anyone know if that means immediately or on June 9th. I have a deal already into GMAC for funding and got approvals for 2 others yesterday (before the letter arrived). I called and couldn't get in touch with the person who would tell us that GMAC would fund those approved deals if sent in. I spoke to the analyst today and she said she was told June 9th was the cutoff and that if deals are approved, they will be honored. Does anyone know for sure? Has anyone else heard anything on this? Please help!
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Old 06-08-2009, 08:35 AM   #2
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I wanted to "bump" this thread to see if anyone had an answer or update?

I'm hoping the GMAC termination will coincide with the Chrysler termination and they'll both use the 06/09/09 date.
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