Bruce Cavenaugh

More on that story…and I do apologize for not updating this recently…we’ve been running around like mad getting ready for May sweeps….

We first heard about Bruce Cavenaugh shutting his doors from an employee who was on her way to get an oil changed…called to check ahead…and got the “we are closed” voice mail.

I headed with photographer Fletcher Mangum to the dealership, not quite sure what we’d find. When we arrived, there was indeed a “Closed” sign on the door..which was slightly ajar.

The lot was empty but when I went inside I found a few employees with somber faces sitting at their desks talking. It was very uncomfortable. They introduced me to Bruce who was more than accommodating and helpful in getting me the information I needed to share with all of you.

His bank…”Fifth Third” out of Ohio gives him a line of credit with which he buys cars to sell on his lot. The lender told him they have decided to get out of that type of lending (I imagine the amount must be steep in order to fill a lot with cars…plus, auto sales have been slammed nationwide…and down 30% for Cavenaugh). I asked him if he had any prior knowledge…any heads up that this might be coming….he said, not really.

If he can’t put cars on his lot…he can’t stay in business and of the cars that ARE on the lot aren’t selling to cover costs…what do you have left?

Interestingly, Bruce said that things had actually been picking UP. He saw a silver lining but there just isn’t room to mobilize without an inventory credit line.

For the cars on the lot…they will be sold at a car auction.

For customers who currently own a B.C. car…you will continue making your payments. If you had a car currently getting repairs at B.C….all those accounts will be finished and closed. Many people are asking me if they are going to still be getting their free oil changes….Bruce told me that no new services will be opened…they are shutting down until they can find new credit…so that includes a stop to oil changes.

Having moved here in October…I wasn’t familiar with how big of a “name” Cavenaugh was/is. Sure…I’ve seen the stickers EVERYWHERE around town but I did not know how much charity work he has done…and how much people admire him as a person and as a businessman.

From what people have told me…Bruce Cavenaugh seems like a pretty great person. So to all the frustrated phone calls I’m getting of people demanding how unfair it is that they have the sticker on their car and will now have to pay for their oil changes…keep that sticker on…..

Bruce may be back in business soon again….

And even if he’s not…..

It could be a point of pride and perhaps a ‘thank you’ to someone who helped you get a great deal on a car….

…and helped our community be a better place to live in.

 

Bruce…I bought my Scion in Caldwell, NJ from a Toyota Dealer. But I’d slap your sticker on my car any day.

 

Thank you.

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1 Comment

  1. Love this blog I’ll be back when I have more time.


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