Procycle in Springfield Missouri loses 1.7m of Honda and Yamaha stock

It is a pretty sad day when your manufacturers pull their bikes and other assorted items from your dealership. Jo Shernaman, owner of several Procycle stores had  such an event take place recently in  January and we now might know why it took place.

ProCycle sales have been declining since a lawsuit in 2006, stemming from “bait and switch” tactics and hidden fees when people purchased items from the dealership.

But even though it happened to a dealership, you should be aware of any business that is going through possible financial problems. If you put a down payment on a item and do not take delivery of it immediately, you may lose your down payment or have to wait for business to settle the debts it owes. This can be a lengthy process where in the end you can end up with only pennies on the dollar.

In the case of ProCycle, the financial possible bad problems are a bit evident with the reduction in stock and the closing of one of their stores. But sometimes you cannot see warning indicators like this so it is always a good idea to treat any business as if it could possibly go out of business.

Try and keep any upfront money down to a minimum or take possession of your purchase as soon as possible. If you start getting the story that your item is delayed or on back-order, start negotiating with the dealership for a refund or cancel your check or credit card payment.

Source Article “ProCycle inventory repossessed“

Source: www.sbj.net