Dealership Troubles

Check out this report about three dealership executives and 81 cars (worth $2.5 million) missing from Legacy Auto Sales, a dealership in Scottsbluff, Neb.

Warrants have been issued for the arrest of the dealership’s owner, controller, and general manager, who are suspected of masterminding the theft.

Already, some of the vehicles have been sold at auction, and Toyota Motor Finance is on the hook as floorplan provider.

Like thousands of dealerships nationwide, Legacy Auto Sales has been facing financial trouble. But this method of dealing with that turmoil just exacerbates the situation for everyone — lenders, auction companies, and other dealers.