Customers who had already bought and were waiting to take their vehicles home were shocked after learning that the popular General Motors dealership in Toronto had closed its doors.
The Dean Myers Chevrolet, at 3180 Dufferin Street in North York, was put on liquidation on Wednesday after failing to pay the debt.
"I had invested $ 25,000 in my dream car, a new 2020 Corvette," Terry Mangal told CTV News Toronto. "Now I have no idea what's going on with my money or my car."
A security guard was guarding an empty parking lot at the Dean Myers Chevrolet dealership on Wednesday. There were a few cars on the other side of the building.
A sign rests on the locked door, which says that the dealer has been placed in storage.
The Ontario Motor Vehicle Industry Council (OMVIC), which regulates vehicle sales in the province, told CTV News Toronto that it is very unusual for such a large dealership to exit the market.
Council spokesman Terry O’Keefe said he has heard of seven other customers and expects more people to be affected. In one case, he said a customer paid $ 77,000 for a new GMC Yukon and was planning to pick it up soon.
“The concessionaire requested full payment for the Yukon. The person would get hold of the vehicle the next day and the (dealership) doors were locked, ”said O'Keefe.
CTV News Toront reached the dealership, but received no response.
The Toronto-based concessionaire was put into liquidation at the request of the Royal Bank of Canada (RBC), which said it had debts of $ 9.2 million.
In its application, RBC said that an audit carried out by the bank revealed that the company was selling vehicles without remitting the required payments to RBC, as required in its financing agreement.
"There are customers who paid deposits and did not receive their vehicles," he said. "We also have concerns about people who have purchased extended warranty and protection plans."
There may also be problems with customers who have negotiated cars or bought used cars that could have a burden on them. OMVIC is advising anyone affected to contact the recipient, OMVIC and General Motors Canada.
Some clients may be eligible to be reimbursed for their losses through OMVIC's compensation fund, he said. They may be entitled to up to $ 45,000 for a valid claim.
A spokesman for General Motors Canada told CTV News that he is working with the board.
"GM Canada is working with OMVIC to transition these customers to another dealer, find another vehicle and provide goodwill refunds for their lost deposits," said a spokesman.
. (tagsToTranslate) news from toronto live (t) news from toronto (t) news (t) news ctv (t) breaking news (t) canadian (t) local news (t) local news (t) weather (t) taffic (t) lottery (t) lottery (t) numbers (t) maple leaves (t) blue jays (t) gasoline prices (t) accident (t) murder (t) flood (t) fire (t) accident (t) accident (t) attack (t) sex (t) crime (t) community (t) sports (t) advertising (t) ttc (t) strike (t) gta (t) brampton (t) mississauga ( t) markham (t) richmond hill (t) vaughan (t) scarborough (t) durham region