Glad to hear that! Next time he comes in tell him Skip gives best wishes, and tell him to give me a call! My phone # should be in your database.
Hello, From a visiting & boutique purhace experience only, heres my thoughts on each. Lake Forest Sportscars; The good- Very friendly staff. Answered all my questions and let me look around without making me feel like I shouldn't be there. Impressive collection of very fine automobiles. Large boutique section. Formula 1 viewing parties open to anyone. Threw R.W. McQuarters of the Chicago Bears out of their store for acting like a jerk. Losing a sale, but gaining the respect of many. Not so good- The new store is rather impersonable. Too dark and sterile. I liked their 780 N Western Dealership much better. Boutique inventory priced in euro vs. U.S. dollar. Lake Forest Sportscars isn't even in Lake Forest anymore. Their huge overhead has to reflect in their pricing, thou I have no experience in this. Continental Autosports; The good- Very nice showroom. Equally impressive inventory of automobiles. Great location just off a major highway and near so many other high end automobile dealerships (Lamborghini-Lotus-Bentley-Porsche) Anual art and literature show. Not so good- Far from being rude, but their salespeople made me feel out of place (which for the most part- I was) Used car showroom is roped off from the public, unless the salesmen think you may purchace a car from them. Again, I have never bought a car from either, just Ferrari-Maserati apparel from their respective boutiques. I look forward to the day I shop for a pre-owned Ferrari from either of them. When that day happens, I'll surely let you know. Joe
I'll have to stop by Lake Forest Sportscars sometime. They sound like a fun dealership. When is the next Formula 1 viewing party at Lake Forest Sportscars?
I didn't hear about that either, but not the only dealership I know of who didn't bend over for an ******bag celebrity. Not sure if the story is even true, but if so, kudos.
It was when they were back @ their 780 N Western store. R.W. McQuarters just signed a multi-million dollar extention with the Bears. He and a associate of his walked into LFSC, unannounced, wearing jeans w/ hair in dreadlocks. In a very loud voice, demanded to test-drive a Lamborghini. When Greg Bergher informed him that they don't sell Lamborghini's, McQuarters friend demanded the keys to a 360 Modena, as he ran his finger along the fender of the car (i.e, Ferris Buhler in Camden's dads garage) At that point Susie Gatto had already dialed 9-1-1 McQuarters wound up @ Fox Valley Motor Cars and bought a tricked out Diablo SV. Joe.
No, he did not. However, the titanium w/ blue alcantara Murci that he leased elsewhere, was towed in for service there once. He had let it sit for a while without shutting off the battery switch. Then he jumped it incorrectly, completely frying out the electronic dashpod.
Thanks for the story Joe. My respect level for LFSC (which was already huge) has gone up a few notches after reading that.
I had a really bad experience with LFSC last year. I detailed everything in the post "How Ferrari and their dealer lost a customer for life" (http://www.ferrarichat.com/forum/showthread.php?t=225357). I was subsequently contacted by a good number of other former customers of theirs who wanted to share other bad experiences with them in private. Before this happened, I was a big fan of the dealership. But I realized that it's easy to be a fan when you haven't actually needed them in a moment that counts yet. It's comparably easy to be a good dealer until you have to stand behind your product when it fails. Also, when a dealer in general has a good reputation, I've found that you typically don't get a very even-handed picture of them in threads like this. It wasn't until I shared my story that I learned of other unhappy former customers of theirs. People just don't generally vent their grievances out in the open until they hear about other bad stories too. On the flip side, I have nothing but good to say about Fox Valley Motorcars. They helped me get the car put right and then sold. I've bought three Lamborghinis from them and have always had stellar performance from their service department. They also deal in used Ferraris. They actually have a F430 coupe for sale right now, if that's what you're looking for. This doesn't mean that LFSC is a TERRIBLE dealership. It just means that I had a terrible experience with them. I subsequently learned of others who also had bad experiences. But I know of other customers who are happy with their performance. So take it for what it is. A mixed bag with a word of caution.
Talking about dealers... Infiniti Gold Coast got 30 of its car Repo'd. http://www.wbbm780.com/30-New-Vehicles-Repo-d-From-Luxury-Car-Dealer/3914900
Me thinks all of Luxury Motors operations will be shut down within a year; probably sooner. 'Good riddance to bad rubbish', they should have been shut down a long time ago. Maybe Blago was getting a cut of the take from LM? Other than that, I can't understand why their whole operation wasn't shut down for unscrupulous dealings! Heck, they've had enough lawsuits brought against them by their 'satisfied customers'!
Quote: Originally Posted by amenasce Talking about dealers... Infiniti Gold Coast got 30 of its car Repo'd. http://www.wbbm780.com/30-New-Vehicl...Dealer/3914900 Aside from the fact that as of recent, the economy is in the ****ter affecting automobile dealers pretty much everywhere and they're losing their asses on a monthly basis just trying to stay afloat... this is all common knowledge. However, to my understanding, Fifth Third Bank supplied 'floor plan' to many dealers in Illinois. Gold Coast Luxury Motors being just one of them. For those who unaware of the definition of the term floor planning, it is the cost that dealers pay for loans on the vehicles for sale on their lots. Few dealers own these vehicles outright; therefore, the majority is floor planned by a bank or the manufacturer. The dealer borrows the money to buy the vehicles; either new cars from the manufacturer or pre-owned cars that the dealer purchases. This line of credit is provided to the dealer who pays several thousands of dollars in interest on a monthly basis to the lender that provides the floor plan. A few years back, Fifth Third Bank would solicit dealers for their business to provide them with floor plan at a competitive rate. Some dealers who had accepted the offer and gave their business to Fifth Third were new dealers who had been in the business for years working for someone else. They had been managers who wanted to take a chance at living the American dream by being able to purchase, own and operate their own dealership; rightfully so. Many of these new dealers did not get the business from a family member who may have passed on, or who handed it down to their offspring; they invested their entire life savings to live this dream. In 2008, Fifth Third Bank began tightening up and made mention of exiting the Automotive division of lending (floor plan). They focused a LOT on their underperforming dealers at a time when the economy started taking a downward turn. Fifth Third informed many of these dealers that if they wanted to stay in business, they needed to find an alternative source of floor plan; essentially, to find a new bank. This came at a time when as we all know, all too many lending institutions were not extending lines of credit or floor plan unless you already had millions of dollars as a business, or some sort of equity that a lender could latch on to should things go awry. These dealers were informed that they had 60 days to find and secure a new bank that would provide them floor plan; otherwise, Fifth Third would call in their loan, and replevin (or repo) the vehicles. Besides Luxury Motors, Fifth Third has already done this to numerous dealers, putting them out of business, and then going after the former owners personally once everything has been auctioned off. Apparently, all Suzuki dealers who have floor plan with Fifth Third are their newest target, and if they aren't able to secure floor plan soon, you'll see a whole lot of empty Suzuki dealerships popping up as well. I find it extremely disturbing that we, as American taxpayers, are providing billions of dollars to lending institutions, and this is how they are repaying the people and business owners who made them hundreds of thousands of dollars over the years by giving them their business; the business which they solicited and were fortunate enough to obtain. The former and to-be former business owners are losing their businesses, their homes, and their jobs. Those who were employed at these businesses are affected as well, as they are now unemployed. The consumers are losing the convenience of service at their local dealers who are or have gone under. The towns in which these dealers are closing have now lost that local revenue. The list goes on and on. In closing, whether or not Luxury Motors was a decent, well-liked dealership or not, I have a heart for those who worked so hard at trying to run a business in these trying times. As for Fifth Third Bank SHAME ON YOU!!! How do these people sleep at night knowing that they are ruining the lives of so many its simply heartless.
Sue LFSC for breach of contract. You paid them to inspect the car you were purchasing and you paid them to warranty the car. They appeared to do neither, and took your money. That ain't right! It isn't the fault of Ferrari. It is the fault of LFSC.
What if LM was near bankruptcy? I'd pull their vehicles too, whether or not times are tough to get lending. If it was a well-liked and decent dealership I doubt they'd be in this predicament right now... You reep what you sow type of deal.
Hey there Townshend, If that were the case, then I couldn't agree with you more. However, some of these dealers may have been losing money monthly since the economy took this dreaded turn, but by all means, they were not in the red or on the brink of bankruptcy. With LM, you're talking about a business that literally had about $50M in lines of credit and locations across multiple states. Even though my initial response was long winded, it was all too brief of a response since there is SO much more detail that is involved here. That group was obviously successful, they had sold thousands of luxury high-end vehicles. My disgust lies with the behavior of the floor plan providers. They practically begged for a company's business, and as soon as the economy went sour and sales slowed down, these banks began calling in their loans, freezing their bank accounts, obtaining replevins as in LM's case, and not only hurting small businesses but forcing them to file bankruptcy and go out of business. Which in turn, affects all the businesses, contractors and/or employees that they owed money to and can't pay. Trickle down effect. The icing on the cake is when the bank puts these companies out of business and hires inexperienced morons to auction off a company's assets for pennies on the dollar and then sue the same individuals that they insistently solicited for their business, for the remaining amount of the losses. They created the loss... It's pathetic! They weren't loyal to their customers, as their customers were to them, even though they got bailed out by the Government, i.e.: us. This is widespread, and it's not only affecting the automotive industry. You may have seen on the news (if you're a local Chicagoan) a segment about Mr. Beef, yet another business that has made nothing but $, as they have been around for about 30 years and have also been a profitable business. However, they are facing foreclosure and doomsday because the lender they do business with called in their loan. We all know that trying to obtain a loan during these times is next to impossible. I believe in Karma, and I agree with you on the 'Reap what you sow' philosophy. But this goes well beyond that. There were good people, good employees, good operators and good businesses that went down. When I reflect on all those that I am personally aware of, there are many that it simply shouldn't have happened to.
Blah blah blah, if you're trying to defend LM, which I believe you are since you just signed on today, your fighting a losing battle. In recent years, LM has the worst reputation of any dealer I have ever heard of. They deserve to go out of business and I hope they do!
This is much bigger then just the LM,it affects most if not all car dealers. I'm afraid that by the end of 2009 you will not recognize the car dealer landscape as you know it now.....
That might be a good thing. Wouldn't a better model for a dealership be a small lot with one of each model for demonstrations and a sales office? Test drive & decide what you want, go into the office, add whatever options, pick your colors, and place an order. Wait a few weeks (or months, depending on demand & production) and have your car delivered. Sure would cut down on overhead, you'd get EXACTLY the car you want, and there sure wouldn't be a whole lot of unsold inventory hanging around...
The dealership world would already work like this if that was a feasible proposition. But many car purchases are emotional, especially the exotic kind, to the point that a big part of getting your signature and cash is the promise of YOU CAN DRIVE IT RIGHT NOW. I have personally never had the patience to wait 4-12 months to get a new car. Much rather pick one up from the lot.
While LFSC is very good, I think Continental is just as good and may be a shade better in terms of the service dept. I was in there yesterday buying some parts and they had many cars inside and out. In any case these two are great dealerships. Individual likes and dislikes are going to factor into the entire experience.
