Chrysler, GM dealers closing

It strikes me that there are a lot of brand new unsold cars sitting on slated-to-closer dealer lots. Who owns these vehicles and what will happen to them? GMAC, Chrysler Financial and floorplan financing companies own these vehicles. When the dealers close, the banks will take ownership and flood the market, most likely through the auto auctions. The same thing that happened to home values will happen to cars… It will be harder and harder for the “viable” dealers to sell cars in a market flooded with bank-owned vehicles. Post your comments on this below…

UPDATE: Blake Chevrolet in Homestead has been sold