is it true national marine !
08-19-2004, 10:07 AM
#111
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Re: is it true national marine !
No My Name Is Geoff W
08-19-2004, 11:38 AM
#114
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Re: is it true national marine !
A floor planner is GE Capital, GMAC, Chrysler etc, All or most Car dealers rely on them to finance their inventory. The cars on the lot or in this case, boats, are actually held or owned by the company providing the "floor planning" $$$$.
Once a boat/car is sold paperwork is processed to get YOUR title form the company (floor planner) holding the paperwork (title to the unit).
Car dealers and boat dealers both are somewhat notorius for double dipping titles etc. On a new vehicle they may report that they lost a title or the manufacturer's certifcate of Origin. They already have one filed with one capital company and then file the replacement with another.
The other thing they do illegally is "FLOAT" the paperwork. That is they do not turn it in right away as required by law and keep the $$$$ in their pocket. Capital companies will often just show up on a lot and request the current inventory list, match them to their inventory of MSRP's and walk through the lots and see exactly what is there and what is not. OOPPS! That is when the problem usually surfaces and gets worse from there. The holding company will usually call in the loans at that point. Sudden death!!
Once a boat/car is sold paperwork is processed to get YOUR title form the company (floor planner) holding the paperwork (title to the unit).
Car dealers and boat dealers both are somewhat notorius for double dipping titles etc. On a new vehicle they may report that they lost a title or the manufacturer's certifcate of Origin. They already have one filed with one capital company and then file the replacement with another.
The other thing they do illegally is "FLOAT" the paperwork. That is they do not turn it in right away as required by law and keep the $$$$ in their pocket. Capital companies will often just show up on a lot and request the current inventory list, match them to their inventory of MSRP's and walk through the lots and see exactly what is there and what is not. OOPPS! That is when the problem usually surfaces and gets worse from there. The holding company will usually call in the loans at that point. Sudden death!!
Last edited by expresscat39; 08-19-2004 at 11:42 AM.
08-19-2004, 05:00 PM
#115
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Re: is it true national marine !
Originally Posted by Troutly
Looks like Titos may have been correct when he told Dreamer in another thread there were no Feds at National Marine....looks like a bunch of Locals and State'ies though!! 
08-19-2004, 05:23 PM
#116
Ginger or Mary Ann?
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Re: is it true national marine !
Originally Posted by d-hlaw
Hope he doesnt have athlete's foot.............. it might spread into his mouth after this week!!!
08-20-2004, 09:07 AM
#117
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Re: is it true national marine !
Since NM is in the rears the big 3 mfgs will suffer. Nobody in there right mind would borry millions to sell these lines. If the economy goes south , look for more bad news in the high performance boating world! BH
ps. No free lunches folks!
ps. No free lunches folks!
08-20-2004, 09:22 AM
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Re: is it true national marine !
NM sells 28 of 30 OL's (someone posted)... and NM is Fountains #2 dealer?
There is a problem here.
There is a problem here.
08-20-2004, 10:00 AM
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Re: is it true national marine !
Im back home with my boat !!! Judge Logan executed a release on my boat at 300pm yesterday. I took the paperwork to the Vienna Police and after some photos and more paperwork they released my boat. I am one happy camper at this point. I am going to check out the work that the shop did today to see if it was done properly. The engines are in tact and turned over. Ill put them on the hose tonight. Still got the other issues with the payoffs to deal with but atleast I got my Tiger back. I got a lot of cleaning to do. The boat was returned a total mess inside. Oil in the bilge, grease everywhere, oil and grease on the carpet and mold starting to build up in the cabin. but.... I got my boat. Bill actually talked to me and he is trying to stay afloat and work thru his problems and keep the business going. I give him some credit for not running off and hiding.
Ill post more on the subject later. Thanks for all the calls of support.
Bob
Ill post more on the subject later. Thanks for all the calls of support.
Bob
