Different lenders may pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Our aim is to secure the best deal you are eligible for from our panel of lenders. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next best offer of finance for you. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. We can introduce you to a selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. Automotive Compliance Ltd’s permissions as a Principal Firm allows Mitchell Northwest Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only.
“I think that’s something we’d like to help the brand unlock here, in the Tampa Bay area.Mitchell Northwest Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). They have their successful stable of performance cars and have made major headway with electric vehicles…but they’re also doing their best to target the younger, working, female professional, which I think is exciting,” Brett Morgan says. One-off the most exciting elements of the acquisition, to Brett Morgan, is Morgan Auto expanding into the Porsche brand. There are a lot of new challenges out there.” “We hope we can bring new ideas to the Reeves platform, that’s how we create value,” Larry Morgan says. Over the years, Vivian has remained an active philanthropist within the Tampa Bay Area and the organization recently celebrated its 50 th anniversary. Vivian stayed at the helm, following her husband’s passing in January of 2000. Reeves Import Motorcars was founded in 1971, when Vivian and her husband Allen Reeves purchased the Birdsong Volkswagen store. The Audi and Land Rover dealership names will remain unchanged. Maserati of Tampa and Porsche of Tampa will be renamed Maserati Tampa and Porsche Tampa respectively. Reeves BMW becomes BMW of Tampa Reeves Subaru becomes Subaru of North Tampa and Reeves Volkswagen will become Volkswagen of North Tampa. The names of the dealerships using the Reeves name will be changed, per a Reeves request. Kelly Rogers, general manager of Reeves, is remaining on in his same role and all current Reeves employees will remain, as part of the deal. “She replied, ‘If you have any interest in buying my business, you’re wasting your time.’ We kept in touch for all these years and today, it finally happened.” I called Vivian Reeves and I asked her to have lunch,” Larry Morgan says. The deal was a long time in the making, according to Morgan Automotive Chairman Larry Morgan. Morgan is now the third-largest private automotive dealer group in the country and will finish the year eclipsing well over $5 billion in revenue.
All are located within the state of Florida. The acquisition brings Morgan Automotive to 21 Tampa Bay area locations and 53 rooftops overall, representing 30 brands. After 16 years in business here in Tampa we have the utmost respect for the tradition and reputation that Vivian and her family have built locally,” says Morgan. “We are thrilled to have the responsibility of taking the Reeves organization into the future. This adds significantly to Morgan’s roster of luxury dealerships which already included two BMW stores (Sarasota, Wesley Chapel), Lamborghini (Sarasota), Jaguar Land Rover (Ocala) and Mercedes-Benz (Gainesville). The acquisition includes all seven dealerships on the Reeves campus representing the BMW, Audi, Porsche, Land Rover, Maserati, Volkswagen, and Subaru brands. In a recent mailing to Reeves customers the Reeves family stated that “Morgan Auto Group was the clear choice to continue our legacy.” The acquisition is the largest in Morgan Automotive’s history and doubles its footprint in the luxury market, according to Brett Morgan, CEO of Morgan Auto Group (pictured above).
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