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Puente Hills Chevrolet
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Puente Hills Chevrolet car dealership in City Of Industry, CA 91748
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Puente Hills Chevrolet - Chevrolet, Service Center - Dealership...
I was at this dealer on 9/12/18. I originally came to look at a 2013 Silverado 1500 price at just over 23,000. When I arrived I was told it was sold. So I found 2015 Silverado 1500 with the window price of 22981. We went to work a deal. I was pre approved for financing to 25000. I was trading a Jeep in with some negative equity. I was told by Andy and sells manager I couldn't get it for what I was approved for but to come up to 29000 and we would have a deal. So I left empty handed and drove 1.5 hours back home. I then got my approval up to 30000. Went back on Friday 9/14/18 and went in to do deal on same 2015 Silverado with same window price of 22981 in window. I was told that their online price was 25740 so that's what I had to pay. I said will your window says 22981 that's what I am legally entitled to. They said well I don't think we can do that. I said i was told Wednesday that if I was approved for 30000 I would have a deal so I drove another 1.5 hours to come and make the deal and they refused to work with me. They refused to unless I would go thru their approval process and have my credit ran again even though I was already approved and ready to fund the 30000. They then said ok we will work things out and call you in the morning and deliver the truck to you. I got a call the next morning from Magik and he said we won't take your financing but bring us a check for 33500 and we have a deal. So they want me to pay another 3500 more then what we agreed upon before and wouldn't use the financing I was approved for. So needless to say I won't be working with them. I will take my business elsewhere. DON'T WASTE YOUR TIME WITH THEM. Read More
Puente Hills Chevy Dealer Acquired by UK Group for About $24M
Puente Hills Chevrolet in City of Industry Puente Hills Chevrolet, a 73-year-old family-owned auto dealership in City of Industry, has been acquired by an English car dealer group for approximately $24 million. The sale to Annesley, England-based Pendragon closed on Oct. 1, but was only announced Thursday, according to Ryan Kerrigan, managing director of Kerrigan Advisors, an Irvine firm that represented the Hoffman family, owner of Puente Hills Chevrolet. While the sale price was not in the statement announcing the transaction, Pendragon management mentioned a sale price of 17.7 million pounds in a company update released earlier this month; at the exchange rate on Sept. 29, that translates to $23.7 million. Puente Hills Chevrolet was founded in 1944 as Leo Hoffman Chevrolet; it has been in the Hoffman family ever since. Descendant Tom Hoffman was the most recent co-owner, along with Gary Campbell. “It’s been an incredible experience to be connected so deeply to the greater San Gabriel Valley community, Hoffman said in a statement announcing the transaction. “It’s been 73 years of selling and servicing cars for families…It has been a privilege to grow our business and be a part of this wonderful community.” The dealership has not reported revenues, either to the Business Journal or to Ward’s Dealer 500, which lists financial information for the 500 largest auto dealerships in the U.S. Pendragon was established in 1989 after Williams Holdings “de-merged” its 19 car dealerships across England. The company then began steadily acquiring dealerships and today has 220 dealerships worldwide, including five in California. Pendragon owns both Jaguar and Land Rover dealerships in Los Angeles County through its 2015 acquisition of the Hornburg dealer group. The company reported 2016 revenue of 4.54 billion pounds ($5.58 billion at the exchange rate on Dec. 30, 2016). In its management update, Pendragon said the acquisition of Puente Hills Chevrolet will boost used the company’s used car capacity in the U.S. The company also said there will be no more acquisitions in the U.S market, at least for the near future. Economy, education, energy and transportation reporter Howard Fine can be reached at email@example.com. Follow him on Twitter @howardafine. For reprint and licensing requests for this article, CLICK HERE.
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