Ancira 281 North Chrysler Jeep closed

[Bo]

Originally Posted by wCat

You never know....if people lose their homes, they might need one on wheels!

You're right. People who used their home to finance a vehicle are putting themselves at risk of ending up with neither.

[traficdogn]

Originally Posted by banker

The reason dealerships are failing all over the nation is because people can no longer access home equity. Sadly, too many people used home equity lines to live off of and for many - purchase cars. When home values stopped appreciating and then started dropping - banks (including the one I work for) started freezing and then closing home equity lines. This has hurt the auto business.

In the long run, this is a good thing. People shouldn't be buying cars with their home equity anyway...what ever happened to owning your home out right!? The auto industry expects to see 700 dealerships fail in the next year.

In addition to that, the dealerships had way too much overhead sitting on giant parking lots. Overhead which gave them absolutely no ROI, but a huge amount of liability. They had no idea they could lose so much money over night.

Go to most other places in the world, and the dealerships are smaller than an HEB.

[Bo]

I noticed a couple of weeks ago that this former car lot is now a transportation center for the NEISD. I had figured Ancira would just hold onto the lot until 281 was built out. Apparently they didn't want to wait that long... unless they're leasing it to NEISD.

[Fallonfallon]

It's sad to see people just speculate about other peoples businesses when they don't know the facts or people they are talking about personally. The closing of that 281 store was during a huge downturn in the economy. Snowglobe was right, Chrysler's weren't selling, also gas prices were rising, stocks were plummeting, and unemployment rate was soaring.
Motownmary, the public WAS told that they were closing in advance. Ancira's did what they needed to do to save jobs and their other business. No GOVERNMENT BAILOUTS or your tax dollars involved.
SAAGGIEMOM, Pure speculation from wherever you heard that from. He was just oppsed to toll roads in general. He was sad to have to make the choices he had to make and wasn't looking for any buyout or government bailout.
And yes he had to close an RV store also in Temple. It was all economy related. It was either close these stores and consolidate or leave them open to bleed the other stores and then everyone loses their job.
These are real and honest people. Nothing shady about them.

[rynetwo]

You need to grow thick skin. This was discussed five years ago.

[malcorub16]

I bet its Ernesto Ancira trolling the board himself.

[Soviet]

7 years ago, actually.