It's bad news for the economy but good news for anyone looking to buy a car.
The Chrysler franchise, Kemp Thorn, has been in business in Canton since 1938. Now, more than 70 years later, it's being forced to close.
After filing for bankruptcy, Chrysler is forcing 789 of its dealerships across the country to close up shop.
Owner of the Canton dealership, Kemp Thorn, told FOX 8: "According to Chapter 11, which is the bankruptcy law, they can do what they want to do".
Although General Motors hasn't filed for bankruptcy, it took a similar step, giving notices to 1,100 dealers that it no longer wants them.
The Chrysler franchise at the Kemp Thorn Dealership is on that list of shops to close. According to Thorn June 6th is the deadline.
Chrysler dealers don't have much time to sell their inventory or face huge losses.
Thorn has $3 million worth of inventory on his lot.
Now is the time to save money if you're in the market for a set of wheels. "I've been in the car business for 20 years. It's probably the best time I've ever seen to buy a vehicle," said Dwayne Holbrook, Sales Manager at Kemp Thorn.
Rebates range anywhere from $1,000 to $6,000 depending on the model. There are dealer incentives as well.
Holbrook says you can save $10,000 on a 2009 Dodge Ram pick up truck through incentives and rebates.
But what happens to the warranty if a franchise is shut down? For starters, the government has guaranteed them.
"If a dealership is losing a franchise the warranty is still in place. You'll just have to go to a dealership that still has that franchise available. We'll still be able to service vehicles. We just won't be able to do warranty claims," said Holbrook.
The folks who work at Kemp Thorn say their biggest hurdle is getting people to understand that the franchise is closing, not the dealership. They'll still be selling cars like Mazda, Mercedes-Benz, Jaguar and Volkswagon.
The Chrysler franchise, Kemp Thorn, has been in business in Canton since 1938. Now, more than 70 years later, it's being forced to close.
After filing for bankruptcy, Chrysler is forcing 789 of its dealerships across the country to close up shop.
Owner of the Canton dealership, Kemp Thorn, told FOX 8: "According to Chapter 11, which is the bankruptcy law, they can do what they want to do".
Although General Motors hasn't filed for bankruptcy, it took a similar step, giving notices to 1,100 dealers that it no longer wants them.
The Chrysler franchise at the Kemp Thorn Dealership is on that list of shops to close. According to Thorn June 6th is the deadline.
Chrysler dealers don't have much time to sell their inventory or face huge losses.
Thorn has $3 million worth of inventory on his lot.
Now is the time to save money if you're in the market for a set of wheels. "I've been in the car business for 20 years. It's probably the best time I've ever seen to buy a vehicle," said Dwayne Holbrook, Sales Manager at Kemp Thorn.
Rebates range anywhere from $1,000 to $6,000 depending on the model. There are dealer incentives as well.
Holbrook says you can save $10,000 on a 2009 Dodge Ram pick up truck through incentives and rebates.
But what happens to the warranty if a franchise is shut down? For starters, the government has guaranteed them.
"If a dealership is losing a franchise the warranty is still in place. You'll just have to go to a dealership that still has that franchise available. We'll still be able to service vehicles. We just won't be able to do warranty claims," said Holbrook.
The folks who work at Kemp Thorn say their biggest hurdle is getting people to understand that the franchise is closing, not the dealership. They'll still be selling cars like Mazda, Mercedes-Benz, Jaguar and Volkswagon.
