This Makes Me A Sad Panda.......
You guys might want to grab your blankies for this one...... By now, if you watch the world news you have seen the massive train derailment over Memorial Day weekend that wiped out a highway overpa...
Forum Discussion
Perrysburg Dodgeboy wrote:
Why would you say "The owner of that Sierra HD received about $700.00 for it" :h
The owner was GM, they own the vehicles until the dealer takes delivery of it from the shipping company.
Don
Once the train derailed the salvage company immediately becomes the new owner. At that point those trucks are no longer cargo, but derailment salvage. GM will receive reimbursement from the UP for the value of their cargo. Those trucks ceased to be GM's property the instant the first train hit the second train.
And actually in many cases GM retains ownership of new vehicles at their dealerships until they are sold to the consumer. This is called the floor plan method.
