nod
Guest
I don't know when it starts but I do know that it is. It is a tool used by the company to run the small dealers out of bussiness.
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Combines no more floor planningIJ
parttimer
Guest
What is it or how does it workIJ
Rooster
Guest
The floorplanning expiration date has been pushed to October '03. It has really made many dealers stop and take look and their current business structure and how they were making money (through the use of their own money, i.e., revenue, or are they making their money off Deere). Deere is no longer going to allow any dealer to make the majority of their maoney by such convenient tools as floorplanning of new and used. Deere cannot afford to support the use equipment business, which is kind of ridiculous becuase they seem to be the founders of the late model used inventory program via rollovers and bounties (I guess it got the best of them). So, look out small dealers, the big ones are on their way to get you so that they can be like their big competitior Cat dealers, which have no need for floorplanning. Survival of the fittest I guess you could say.
tj
Guest
Somebody please correct me if I'm wrong but I believe that it means John Deere credit will not carry the paper on the used equipment sitting on dealer lots with them only making interest payments. They will have to use their "own" money and pay for the trade-ins, or finance in the same manor as the end users. As anyone could imagine this will strain the smaller less (financially) powerful dealers. I'm not 100% on my explanation so somebody let me know.
low_end_torque
Guest
They want to be like cat and only have strong dealers. It will be the end to a different dealer in every town. They will have to cover areas over vast number of counties and maybe states in the distance future. The dealers with only one or two branches are not wanted by Deere.
magnum_man
Guest
Why do they want to be like CatIJ They are no longer in the Ag business. It did not work.
low_end_torque
Guest
Not like that! But, In the Fact That Cat can cover 210 countries with only 200 dealers. The dealers have financail power! The largest cat dealer is bigger than AGCO!