The CNC story gives one pause and I think many are going to be tad gun shy with consigning a car going foward. Apparently, the CNC facility is is now vacated and that is not a good sign for those with unresolved transactions.
Consignment fraud!?
Over in the news section of this site is the recent and currently unfolding story of CNC Motors in Upland CA and fraud allegations. Supposedly they are being accused of borrowing money by using consigned exotics for collateral and/or selling exotic cars but not forwarding sales proceeds to the owners. Supposedly both involved giving the cars and titles to the consigning dealer. Serious allegations for sure, and a reminder to be super diligent in sales and purchase transactions. I’ve never consigned a car but these alleged acts make me really think hard about how to sell one day in the future.
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Bring it to a trusted Dealer...I cant speak for other Dealers, but for me, I do NOT USE or have a Line of Credit...I use all my OWN money so never have to worry about finding sneaky ways to fund purchases.
I do know most Dealers are SHOCKED when they learn we dont use flooring or have a LOC with banks..I guess most are just rich on "paper" and not TRULY Liquid rich and secure.
Just my 2 cents
I do know most Dealers are SHOCKED when they learn we dont use flooring or have a LOC with banks..I guess most are just rich on "paper" and not TRULY Liquid rich and secure.
Just my 2 cents
Thanks for your input Roy, glad to hear it. There will always be honorable and not so honorable people and the same applies to businesses. It's the way of the world.Bring it to a trusted Dealer...I cant speak for other Dealers, but for me, I do NOT USE or have a Line of Credit...I use all my OWN money so never have to worry about finding sneaky ways to fund purchases.
I do know most Dealers are SHOCKED when they learn we dont use flooring or have a LOC with banks..I guess most are just rich on "paper" and not TRULY Liquid rich and secure.
Just my 2 cents
I'm sending my car to Roy for consignment.
Roy helped me buy my car 10 yrs ago and I'll appreciate his help on buying my next one.
Roy's (and his staff (and kids!)) reputation are second to none.
Roy helped me buy my car 10 yrs ago and I'll appreciate his help on buying my next one.
Roy's (and his staff (and kids!)) reputation are second to none.
Thanks for the kind words. I am happy we AND my kids took proper care of you.I'm sending my car to Roy for consignment.
Roy helped me buy my car 10 yrs ago and I'll appreciate his help on buying my next one.
Roy's (and his staff (and kids!)) reputation are second to none.
Here when ever you need us !!
Roy
Cats Exotics is the best. I bought a 92 Silver Ferrari 512tr from them which was on consignment. No worries or problems.I'm sending my car to Roy for consignment.
Roy helped me buy my car 10 yrs ago and I'll appreciate his help on buying my next one.
Roy's (and his staff (and kids!)) reputation are second to none.
Ive been reading the stories on CNC because I'm local to CNC. About 3 years ago when I sold my GTR and was looking for an R8, I tried contacting CNC a couple of times for an R8 they had but they were actually really rude and never replied to my emails. I went there twice to look at the shop and cars. The first time I was walking through and some dude approached me and asked me if I needed help. I said no I was just admiring the cars. He literally rolled his eyes and said please do not touch any of the cars then he walked away. I was like really?????
The second time I went there was because some buddies and I went on a cruise and we met there. There was a Maserati, a 488, a GT3, a MP412C, and my R8. We met in the furthest part of the east side of the parking lot so we wouldn't bother their business. Then a tall white man approached us and asked what we were doing. We told him nothing just getting ready to go for a drive. He said ok, I cant have you just parked here for long. I said we are leaving in 5 min. Then he walked away. I didn't know it then but after all the recent videos, I realized it the Clay the owner.
These are two minor stories but its all the interaction I've had with CNC. From those interactions, I never had a good feeling about CNC....
The second time I went there was because some buddies and I went on a cruise and we met there. There was a Maserati, a 488, a GT3, a MP412C, and my R8. We met in the furthest part of the east side of the parking lot so we wouldn't bother their business. Then a tall white man approached us and asked what we were doing. We told him nothing just getting ready to go for a drive. He said ok, I cant have you just parked here for long. I said we are leaving in 5 min. Then he walked away. I didn't know it then but after all the recent videos, I realized it the Clay the owner.
These are two minor stories but its all the interaction I've had with CNC. From those interactions, I never had a good feeling about CNC....
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