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I recently had the misfortune of using DSC - Dealer Services Corporation - as floor planning financing for my car lot. They sold us on a plan using 200000 dollar line of credit so we could get enough cars out there on lease to make the business solvent.

Two weeks later we had 21 cars and 10 out on lease when they inexplicably backed us down to 75000 dollars. We called them. No response. Finally a week or so later we were told we bought too many cars!

Why would they provide us with financing and then pull the rug out from under us? Again we called and called. No response. Finally they said they would send out an auditor.

After the audit and the auditor said we had the best documentation she had ever seen they said they would get back to us. They never did. We made our first installment payment on the financing and still no response only a weak "we have a new manager who will not be until Aug 4th. We had to pay rent and had spent most of our money getting up and running and were depending on down payments to keep us going until the monthly payments started coming in.

We had not enough inventory to provide for our customers and we had to fold. It was THAT fast. They sold us on a business plan then backed out of that plan. They are either A: incompetent or B: had this plan all along to drive us out of business and take over the accounts we had created and seize the remaining inventory, sell it for nothing, and then try to hold us responsible for the difference.

DO NOT USE DSC they are not people of their word!

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Anonymous
#1514320

They kind of did the same to me . I used them for 12 years and I was going through tough times ( January 2017 ) I called them and tried to work out a payment arrangement and was told they couldn't do it for me that they"d have to do it for everyone!!

Within 2 weeks they came in and took 38 cars from me and said I had 15 days to come up with 180k. Middle of winter and nowhere to turn I lost everything I worked for and some. All they had to do is put a $500.00 fee against any bought inventory and they'd recover all there money owed over time and I'd still be in business today.

I'm still open ( barely ) 18 months later with no floorplans, I am buying cars that I can afford but could use a line of credit to purchase some more inventory !!! Is there any help out there ??

Anonymous
Tampa, Florida, United States #688428

I've owned a used cars dealership for 15 years and have seen many of you guys fold do to useing floorplans WRONG! Don't blame the floorplans company do to the fact that your business plan was flawed and domed to fail before you even signed the lease on the property. Blame yourself for not knowing the game.

Anonymous
to VetCarGuy Cocoa Beach, Florida, United States #689252

The business plan was set up in collaboration with DSC. But you are right; I should have known past dealings with car dealers as a consumer that I should have expected lies.

Congrats; BTW it is DOOMED and in the context of your sentence DUE not DO. I hope the rumors I hear about their potential bankruptcy are true.

I guess they will have to blame their business plan of lies. Good luck with yours...

Anonymous
Charlotte, North Carolina, United States #676012

They did same thing to us. Worst company to deal with.

We had them for 2 years and never missed any payments or had any issues and for no reason, they dropped the line to 0 because they came and saw a few cars on our lot and thought we had another floor plan. They are going out of business and their people ( good ones ) all went to AFC which is a much better company anyway.

Terrible company. By far, the worst

Anonymous
Bay Hill, Florida, United States #55247

How Dealer Services Corporation Ripped off our family Owned Business and Stole Millions of Dollars See you in Court John Fuller

last entries was not by DealerService Corporation.

Anonymous
Bay Hill, Florida, United States #55246

How Dealer Services Corporation Ripped off our family Owned Business and Stole Millions of Dollars See you in Court John Fuller

Anonymous
Bay Hill, Florida, United States #54866

While trying to recover the money DSC had stolen from me, I discovered that DSC was an unlicensed California lender. I quickly filed a complaint with the California Department of Corporations (DOC) in March 2007. I have continued to ask the DOC to assist me in stopping this predatory lender, as I discovered DSC’s illegal activities were continuing throughout the state.

Contact us californiaautodealers@gmail.com

Anonymous
#50181

DSC is a horrible company to deal with. I have paid them thousands of dollars over the years and they lowered my line without notice and I found myself purchasing cars and no support from DSC.

The manager in San Diego is ruthless. I highly recommend not using this company.

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