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Reports: GMAC Cuts Credit To Some Bill Heard Dealerships
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Published: August 26, 2008
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According to published reports, auto financing company GMAC discontinued credit to some car dealerships operated by Columbus, Ga.-based Bill Heard Enterprises, which operates 14 car dealerships from Arizona to Florida, including Bill Heard Chevrolet in Plant City.
The move has no impact on the Plant City dealership because it does business with another financing company, not GMAC, said Paul L. Baker, executive manager of the local Bill Heard Chevrolet.
The Columbus Ledger-Enquirer newspaper wrote that representatives of Bill Heard Enterprises were trying to arrange new financing with GMAC or another provider, though that could not be confirmed today.
GMAC officials declined to comment on individual dealerships, though they noted difficult economic times for the dealership community in general.
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