Bonanza Ford becomes second area Ford dealer to close

By JOHN McCALLUM

Editor

Long-time Cheney-area auto dealer Bonanza Ford has shut its doors.

According to a Jan. 16 story in Spokane's Journal of Business, the dealership located in Four Lakes adjacent to Interstate 90 is the subject of a lawsuit filed by the company that owns the five-acre lot on which the dealership, which includes a 19,600-square-foot building, sits.

Bonanza Land, LLC filed suit on Jan. 2 in Spokane County Superior Court against Bonanza Ford for back lease payments and breach of contract. The suit states that Bonanza Ford has failed to pay rent since November, and owes $106,500 in rent, late fees, property taxes and interest. Bonanza Land is trying to recover vehicles that were repossessed by Bank of America on Dec. 23 in order to satisfy their claim.

Mark Loy and his sister Deborah purchased the dealership, which was previously called Jerry Reynolds Ford in Cheney, in 1996, renaming it Bonanza Ford. The Ford Motor Company approved the purchase, provided the Loys move the dealership to a more prominent location, which was done via the 2001 move to Four Lakes.

Ford declined comment when asked about Bonanza's closing, stating all dealerships are considered independent businesses and the company cannot speak for them. Customers who purchased vehicles at Bonanza Ford do have recourse to have any problems with their vehicles taken care of locally.

“Customers can take their vehicles to any Ford or Lincoln Mercury dealership for warranty work as well as other work,” Ford's western regional manager, John Clinard, said via email.

Bonanza is the second Ford dealership to close in the area in a little over a year, the Journal of Business article stated. The first was Empire Ford in downtown Spokane, which closes shop in November 2007.

John McCallum can be reached at [email protected]