Calls to the dealership by RV PRO were not returned late Friday. However, Clark McEwen, executive director of the Texas RV Association, confirmed to RV PRO that the dealership has ceased operations.
“They’re gone,” he said simply. McEwen said Fun Time RV was the largest dealership in Texas in terms of towables and of overall volume. “At one time – in the heyday, say four years ago or so – they were approaching close to $100 million a year. They were, up till right now, the largest fifth wheel dealer in the nation,” he said.
“It’s quite a shock,” said Tom Walworth, director of Statistical Surveys, commenting on Fun Time’s closure.
Walworth said that Statistical Surveys data shows that in 2009 Fun Time RV sold a combined 1,606 units, making them the largest single-site dealership by unit sales in the country. The next closest was Lazydays with 1,355 units. Walworth added that Fun Time’s volume of unit sales probably made it one of the five largest in the country in several categories of RVs.
McEwen said reports he was hearing recently indicated that, even until just before closing, Fun Time was continuing to sell a lot of units. However, there were also reports that the dealership was having financial issues, and problems with access to credit, he added.
GE Capital provided financing for Fun Time RV. Bill Hughes, sales director for GE Capital in Tempe Ariz., said he couldn’t comment on the status of individual clients.
McEwen said Fun Time’s closure is a loss not just for its employees and customers, but for the entire industry.
“It’s a monster. It’s not good for the industry,” he said, adding, “Even his (owner Sam Kidd’s) toughest competitors don’t want to see that happen.”
SOURCE: RV PRO
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I could not believe this has happened. I was awaiting delivery of a brand new toy hauler (my first brand new rv) when we found out that the place was of business. I can get over the fact that I am not going to get my toy hauler but what I can't get over is I am out a rather large amount of money. We sold our motorhome in order to purchase the toy hauler. Now I am out 10 grand and a RV. I don't know what is going to happen but I have hope that GE Finance will do the right thing and return my money. I shouldn't have to pay for someone else's misfortune. I just want my money back. The only thing I have left is hope in this situation.
ReplyDeleteI am very sorry to hear that. This is a very sad and unfortunate situation for people like you who were in the middle of a purchase such as this. Maybe someone out there reading this will have some advice to offer you. I feel sure the finance company will take care of you though. Maybe you can work through another dealer with GE to get your toy hauler. Please check back with us and let us know how things turn out and I wish you the best of luck! If I can help you find resources to assist you in any way, please let me know. Best of luck!
ReplyDelete************** UPDATE ***************
ReplyDeletePorter told the Star Telegram that GE Commercial Distribution Finance had been Fun Time's major provider of floor plan financing for its inventory of RVs. However, according to public records, other lenders included First Financial Bank of Cleburne, ADP Financing, American National Bank of Texas in Terrell, Community Bank in Cleburne, North Star Bank of Texas in Denton and Textron Financial Corp.
Read the full story in the Star-Telegram:
http://www.star-telegram.com/2010/05/16/2193214/shlachter-co-lenders-shut-down.html
My son purchased an extended warrenty insurance policy thru Fun Time. We need to cancel the policy, we have faxed the paperwork, to them but they have not responded. Do you have any suggestions, they advised us that fun time has to start the paperwork.
ReplyDeleteThe warranty cancellation has to be done through your warranty company. Who is your warranty with? Have you spoken with them? Fun Time is no longer operating, so I would speak to management at the warranty company. If you will let me know what company that is, I will be happy to see if I can find you a good contact to get this handled.
ReplyDeleteThanks,
Angela
Cancellation of any service agreement is "supposed" to be facilitated through the dealer. When the dealer is no longer in business, then you can cancel direct with the service contract company. The problem with this scenario is that you will only get a refund on the portion that was paid to the service contract company. The reason you are supposed to cancel with the dealer is because the dealer is supposed to refund THEIR portion of the amount owed to you. You will likely get about 35 to 45% of what you should..depending on what you paid for your policy
ReplyDeleteWe puchased a 2005 RV for cash from Funtime in March 2010. We never recieved our title, registration or plates. Are we going to have to pay the tax, title and registration again? How do we get the title?
ReplyDelete