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The last automobile dealership along Automobile Alley, Mercedes-Benz of Oklahoma City at 1225 North Broadway, plans to vacate its premises in 2018 and move to suburban Edmond. The new location will occupy half of a 65,000 square feet (6,000 m 2) building that was constructed to house Volkswagen of Edmond in 2003. The existing Mercedes-Benz ...
In the United States, a car dealership is a business that sells cars. A car dealership can either be a franchised dealership selling new and used cars, or a used car dealership, selling only used cars. In most cases, dealerships provide car maintenance and repair services as well as trade-in, leasing, and financing options for customers.
In 2001, Sonic made its entrance into the Oklahoma City market with the purchase of Boyd Chevrolet and Steve Bailey Honda. [12] In 2002, Sonic acquired the sixteen-location Michigan-based Don Massey Dealerships. This brought the company to 134 total locations, making it the second-largest automotive retailer at the time.
Repossession, colloquially repo, is a "self-help" type of action in which the party having right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings.
Southeast Toyota Distributors LLC, (SET) founded in 1968, is the top private distributor of Toyota vehicles in the world. [4] [5] [6] They are franchised by Toyota Motor Sales, USA to sell vehicles and parts to car dealerships in the five states of Alabama, Florida, Georgia, South Carolina and North Carolina. [7]
A repurchase agreement, also known as a repo, RP, or sale and repurchase agreement, is a form of short-term borrowing, mainly in government securities.The dealer sells the underlying security to investors and, by agreement between the two parties, buys them back shortly afterwards, usually the following day, at a slightly higher price.