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Wow. I used to sell GM cars and trucks. The big money makers were heavy duty pickup trucks and used cars. The cars, especially the lowest priced new cars, the salesmen make very little from the sale. A buddy sold a 3/4 ton pickup, and his commission was just over 7 grand on just that one truck, about 10 years ago. I sold a new car, and wound up with almost 300 dollars from that unit, which is nothing really.

New vehicles were floored, which means that the dealer didn’t pay for the inventory, but pays GM when a unit is sold.

I know a guy who is a Taylor dealer. He floors those, from what I understand. Is this the same for Ibanez and other brands?
 

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I believe every manufacturer has a floor plan if you pass the credit check. You pay interest every month, just like a car dealer, which is why they want to flip them fast. I know every time GC goes into bankruptcy all the manufacturers start biting their fingernails, I know they owe Ibanez alone millions.
 

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I believe every manufacturer has a floor plan if you pass the credit check. You pay interest every month, just like a car dealer, which is why they want to flip them fast. I know every time GC goes into bankruptcy all the manufacturers start biting their fingernails, I know they owe Ibanez alone millions.
‘Wow, I just noticed this thread was really old. Sorry about resurrecting an oldie. But GC owed Rickenbacker a lot of money, and Ric put out a message to please buy from any dealer other than GC/MF. They also owed Mike Fuller and Fulltone some 60 or 70 thousand dollars for pedals. They couldn’t pay. And Fuller tried to get the merch back, but they never did.
 
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