Car Dealerships Chevrolet Silverado K1500 LT in Mondovi WI

Car Dealerships Chevrolet Silverado K1500 LT in Mondovi WI

February 15, 2018
Posted by: solfa_admin

Many people are not familiar with Buy Here Pay Here Car Dealerships until they have a need for them. The point of this article is to shed some light on the way that the BHPH car lot and auto dealer operates and how they differ from the standard automobile dealer. I will give you a look inside the BHPH business model Seven Strategies to Evaluate a Car Dealership Chevrolet Silverado K1500 LT Mondovi WI 54755 and how they sell, finance, acquire and secure automobiles.

To give you some background the primary focus of the Buy-Here Pay-Here car dealer is to sell and finance vehicles for people that have bad credit and are unable to buy and finance automobiles through traditional dealers and lenders. They do this by selling used vehicles and financing them in-house or through the Chevrolet Silverado K1500 LT Mondovi WI 54755 selling dealer. They don’t use banks, finance companies or third party lenders. Their customers buy the car and make the weekly payments at the same place, hence Buy Here Pay Here.

Setting-Up the Buy Here Pay Here Car Dealership

Some BHPH car dealerships are small corner lots that set up business in and old gas station or an auto repair facility as long Pros and Cons of Buy Here Pay Here Car Dealerships Chevrolet Silverado K1500 LT Mondovi WI 54755 as they have an office, a couple of bays where they can work on or prepare cars for sale on the lot and an area where they can display their vehicles that are for sale. On the other end of the spectrum you will find that some new car dealers set-up a Buy Here Pay Here division in addition to their Chevrolet Silverado K1500 LT Mondovi WI 54755 regular car sales business to accommodate customers that will not qualify for an auto loan through their normal lenders. So you can see that BHPH car dealers can come in all shapes and sizes.

Inventory for the BHPH Car Dealership

The small to mid-size BHPH car dealer is always on the lookout for vehicles to sell on their lot. They go to auctions Chevrolet Silverado K1500 LT Mondovi WI 54755 to buy cars, buy cars from private party sellers and they also buy cars from new car dealers that were trade-ins. They are very particular about the cars they buy because they have to pay cash and they need dozens of cars to stock their lot and attract customers with a good selection.

The new car dealers that have a Buy Here Chevrolet Silverado K1500 LT Mondovi WI 54755 Pay Here Department usually sell their quality trade-ins in their BHPH Division. It makes good sense to sell their trades with in-house financing because they have a steady source of used vehicles at their disposal and they can avoid buying cars from the auction which is a very time intensive activity to find quality cars.

No matter where they get their vehicles Chevrolet Silverado K1500 LT Mondovi WI 54755 they are very careful to make sure they only offer sound and dependable automobiles because they will be financing their customer’s purchases. If they were to sell junkers and beaters to their customer they stand a chance of the buyers not making their payments. Then if the customers don’t pay they will have to repossess the cars and then they are Chevrolet Silverado K1500 LT Mondovi WI 54755 stuck with vehicles that are unsellable because they are junk. So you can see why they are very particular about the cars that they sell and finance at their Buy-Here Pay-Here car dealership.

The Process at the Buy Here Pay Here Car Dealer

The first step of the car buying process at the buy here pay here auto dealer is to see if Chevrolet Silverado K1500 LT Mondovi WI 54755 the buyer can qualify for in house financing. Some dealers pull the consumers credit report and some don’t, one of the main concerns is the income and the stability of that income of the buyer along with where they live. The BHPH car lot owner is looking for a person that has an income that can service the auto loan weekly Chevrolet Silverado K1500 LT Mondovi WI 54755 or biweekly and how long they have been on their job. These aspects are often more important than prior repossessions or bankruptcies.

Once they qualify for in house financing they discuss terms of the auto loan including the down payment, number of payments, the interest rate and when and where the car payments are to be made along with the form of Chevrolet Silverado K1500 LT Mondovi WI 54755 payment which could be cash or checking account debit. The price is important, but the customer is usually more concerned with the payment.

Vehicle Selection at Buy Here Pay Here Lots

Then it is time for the customer to select a vehicle from the dealer’s lot. They are given a list of the vehicles that they are qualified to buy and finance and Chevrolet Silverado K1500 LT Mondovi WI 54755 they choose their vehicle of choice. Yes, that is different from your traditional car dealer, but things are done differently at the buy here pay here auto dealer. Some people say that the car is overpriced, but you need to remember that the BHPH dealer is about to finance a customer with very bad credit and a small down payment.

The Buy Chevrolet Silverado K1500 LT Mondovi WI 54755 Here Pay Here dealer is playing the odds and hoping the buyer will make the payments as agreed, but a certain percent of all the sales will have to be repossessed after the buyer has run the car into the ground. The car buyer with bad credit knows that they will be paying a high price for the car and an Chevrolet Silverado K1500 LT Mondovi WI 54755 interest rate that is high to compensate the dealer for the high risk and the expenses they will have to absorb when they repossess vehicles.

Buy Here Pay Here Car Dealer Paperwork and Conditions

Preparing and signing the paperwork is done in the dealer’s office which is a contract between the buyer and the dealer. The documents are all legal and conform to Chevrolet Silverado K1500 LT Mondovi WI 54755 regulations that are set by the state when the car is being purchased and financed. The terms and conditions are set by the dealer and the buyer must conform to all those conditions or they are violating a legal agreement. The last thing you want to do is be late with your payment because the car can be repossessed the following Chevrolet Silverado K1500 LT Mondovi WI 54755 day. Grace periods for late payments are rare and the BHPH car dealer is within their rights to seize the vehicle one day after the payment is late. You might say there is a zero tolerance policy when it comes to enforcing the terms and conditions of the contract between dealer and buyer.

BHPH Auto Dealer Bad Deals, Repos and Mistakes

Even the Chevrolet Silverado K1500 LT Mondovi WI 54755 best run dealers are certain to make bad deals, mistakes and have to repossess vehicles. They are careful to do everything they can to avoid problems, but it still happens. If they have to repossess a car they have to hire a recovery firm which can cost several hundred dollars and then they need to do something with the car. Very Chevrolet Silverado K1500 LT Mondovi WI 54755 often the car has been in an accident or been run hard and put away wet which makes the car worthless and ready for the scrap yard. It is very rare that a repossessed car comes back in good shape. The Buy Here Pay Here Car Dealers takes it on the chin and loses money, but hopefully learns a lesson when Chevrolet Silverado K1500 LT Mondovi WI 54755 it comes to qualifying buyers.

Buying a car from a BHPH car dealerships is different than doing business with the traditional dealer in several ways, but it is a second chance or maybe the last chance for the car buyer with bad credit. Some of the policies and terms may seem unfair, but even the small dealer can have Chevrolet Silverado K1500 LT Mondovi WI 54755 hundreds of thousands of dollars tied up in inventory and finance agreements. They are putting themselves on the line to help the car buyer that needs a car, but has a history of spotty credit. It’s just business.

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Mondovi WI - BingNews Search results

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    Brian & Lois Ferries noRthERn InVEStMEnt Co. Clerk & Cashier, Mondovi, WI 715.926.4265, [email protected] Registered Wisconsin Auction Co. Lic. #10 Rep. by Dick Taylor, 715.299.7321, dtaylor ...

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    Car Dealerships Chevrolet Silverado K1500 LT in Mondovi WI

    February 15, 2018
    Posted by: solfa_admin

    It’s common these days for car dealerships to be located next to many other similar businesses in “auto rows” or “auto malls.” The economic theory of agglomeration gives credence to this practice, based on the logic that a rising tide raises all ships, all businesses benefit from a single destination for vehicle buying that draws all comers, irrespective of make and model. Then there Auto Dealerships – The Sales Dept Sells the First Car Chevrolet Silverado K1500 LT Mondovi WI 54755 are places that buck that trend and eschew every known economic theory. Here are some of the strangest locations and practices for car dealerships.

    British Motor Cars, San Francisco

    This high-end auto emporium is the antithesis of the auto mall ideal. Compared to rows of autos laid out around some suburban interstate cloverleaf where there’s ample room for customers to park and view the inventory, this Chevrolet Silverado K1500 LT Mondovi WI 54755 establishment is practically hidden. The showroom is located in downtown San Francisco on an extremely busy section of Van Ness Avenue that’s actually collocated with US Route 101. There is no parking to speak of except for metered spots on the streets, and those max out at two hours. If, however, you are serious about buying a vehicle at British Motor Cars, you can Investing in Car Dealerships – How to Value Them Chevrolet Silverado K1500 LT Mondovi WI 54755 most likely afford to have a limousine drop you off. Inside the slate-gray Greek Revival building lies a cornucopia of exotic and expensive rides. The gilt marble interior is the perfect backdrop to sip a house-made espresso while perusing the selection of high-horsepower Italian speed demons, leather trimmed British mobile palaces, and state-of-the-art German sedans.

    Llanfairpwllgwyngyllgogerychwymdrobwllllantysiliogo-gogoch Autos, Wales

    No, I didn’t just mash my hands against Chevrolet Silverado K1500 LT Mondovi WI 54755 the keyboard accidentally, that’s the real name of a town in Wales and one of its car dealerships. If you’ve ever spent any time in Wales, or maybe heard people speaking Welsh, it will come as no surprise that this delightfully long and seemingly impossible to pronounce word originates in Western Britain. Welsh is an ancient language descended from the Celtic linguistic family, spoken Chevrolet Silverado K1500 LT Mondovi WI 54755 on the British Isles for far longer than English. English derives its name from the Angles, a Germanic people. While less than a quarter of the people in Wales speak it fluently, the language still gives its name to many towns and, thus, business establishments. Thankfully, the salesmen at this location are happy to shorten it to just Llanfairpwllgwyngyll.

    Ling’s Cars

    Unlike the other auto dealerships Chevrolet Silverado K1500 LT Mondovi WI 54755 on this list, Ling’s is actually primarily a leasing business. Unlike other car dealerships anywhere, Ling’s is just flat out weird. Only here can you get an affordable lease on a quality pre-owned vehicle while also buying a dozen farm fresh eggs. Ling’s has a hen house on the premises and collects and sells the eggs as part of the wacky business. If that’s Chevrolet Silverado K1500 LT Mondovi WI 54755 not enough, the owner has even been known to ride around the premises in a military surplus missile carrier.

    Next time you think the car buying experience is too boring, check out one of these spots!

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    Mondovi WI - BingNews Search results

    • 30636159.pdf

      Brian & Lois Ferries noRthERn InVEStMEnt Co. Clerk & Cashier, Mondovi, WI 715.926.4265, [email protected] Registered Wisconsin Auction Co. Lic. #10 Rep. by Dick Taylor, 715.299.7321, dtaylor ...

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      In the 92nd Assembly District, Democrats Rob Grover of Galesville (49 percent) defeated Desiree Gearing-Lancaster of Black River Falls (29 percent) and Max Hart of Black River Falls in the race to tak...

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      Special Features/Requirements (license, certificates, etc): Valid Wisconsin Registered Nurse license. Follows/adheres to organization, federal/state regulations and guidelines, including Resident/Clie...

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      <img class="styles__noscript__2rw2y" src="https://dsx.weather.com//util/image/w/ba8f6c2f-3131-49bd-9474-a75c29dd0788_815x458.jpg?v=at&w=1280&h=720&api=7db9fe61-7414-47b5-9871-e17d87b8b6a0" srcset=" ...

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      Mondovi (WQOW) - Charlene Warner, of rural Mondovi, announced her candidacy for Wisconsin’s 93 rd Assembly District. Warner, a Democrat, is currently the only challenger to incumbent Warren Petryk. “G...

    • Melvin E. Becker

      Edgerton, WI -- Melvin E. Becker, age 82, of Edgerton, died Friday, April 20, 2018, at St. Mary’s Hospital, Madison. He was born in Mondovi, WI, on February 10, 1936, the son of Otto Louis and Junice ...

    • Judy Lubinsky

      Judy A. Lubinsky, age 70, of Mondovi, WI, passed away on Tuesday, April 10, 2018, at Sacred Heart Hospital in Eau Claire, WI, surrounded by her family; following a long and courageous battle with canc...

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    Car Dealerships Chevrolet Silverado K1500 LT in Mondovi WI

    February 15, 2018
    Posted by: solfa_admin

    There is never a wrong time to buy a car dealership, only a wrong way to buy one.

    In 2009 there have been dealerships (both domestic and import) that have made over half a million dollars in one month, yet the majority of the pundits said that 2009 was not the time to buy a dealership.

    Remember “If you wait for perfect conditions, you will never get anything done.” Ecclesiastes 11:4. It is not the “conditions” Investing in Car Dealerships – How to Value Them Chevrolet Silverado K1500 LT Mondovi WI 54755 that count; it is your “analysis.” The fact is that most car dealerships that closed in 2009 were bought or established during what the pundits now describe as “the good times.” The times when owners and the experts lamented were “the right times” to buy and build.

    Case in point: In 2008 Automotive News ran a front page story on a fellow that was building a Toyota dealership on the freeway, across from the Oakland Chevrolet Silverado K1500 LT Mondovi WI 54755 Coliseum — a $35 million store, with five floors and a four-story glass showroom. The experts proclaimed about the dealer “… has a broader vision about the relationship between real estate and car dealers than you would ordinarily find.”

    On February 24, 2009 The Oakland Tribune reported: “New Toyota dealership in Oakland closes”. In that article the dealership’s customer relations manager lamented: “I’m kind of in a state of shock because we thought we had How to Find Unadvertised Discounts on New Cars Chevrolet Silverado K1500 LT Mondovi WI 54755 such a bright and opportunistic future here, and with this, it just leaves an empty taste… ”

    When one analyzes that situation, the dealership was supposed to fail.

    For a plethora of reasons, not the least of which was the store’s rent factor, the dealership’s success would have been contrary to the laws of nature. Analyzing that situation, however, is left for another article. For this article, the object lesson learned is: Even though the factory Chevrolet Silverado K1500 LT Mondovi WI 54755 approves a transaction, the lenders finance it and the trade publications applaud it, those endorsements provide no guarantee a dealership is going to succeed. Having said that, there are many buyers who will still believe those endorsements mean success.

    With the epidemic of lawsuits today, factories and lenders cannot give business advice because if the dealership did not succeed, it is the factories and lenders that will get sued. Consequently, one must rely on oneself Chevrolet Silverado K1500 LT Mondovi WI 54755 and advisers that are not afraid to contradict the boss.

    As an aside, be careful not to associate with habitual “deal-breakers.” Some advisers are perpetual naysayers because advisers do not get sued for telling a client not to do a deal. They only get sued when a client gets into a deal that goes sour because it is never the client’s fault. It is the bank, the factory, the accountant, the lawyer, the business advisor Chevrolet Silverado K1500 LT Mondovi WI 54755 (anyone other than the client) that is to blame.

    The bottom-line is that there are two critical factors in buying an automobile dealership that will help ensure success for the long term: (1) How it is bought; and (2) How it is managed.

    Each factor has a story, but those are the two keys. How the dealership is bought and how it is run will determine its long-term success or failure. We say “long-term” because car Chevrolet Silverado K1500 LT Mondovi WI 54755 dealerships provide enough cash-flow that some deals could take five years to fold.

    Buying a Car Dealership

    What is the right way to buy a car dealership in bad economic times?

    In the “good times,” buyers were paying premiums for dealerships, based upon brand names, pretty buildings, nice locations, and so forth. The fact is, in good times or bad, dealerships should be valued in the same manner: by how much the buyer expects to earn after Chevrolet Silverado K1500 LT Mondovi WI 54755 the purchase. In other words, upon expected ROI (return on investment) — not the brand, or the building, or the location.

    Determining what a store can earn after its purchase encompasses more than math. Regardless of how often the “multiple of earnings theory” has been proved wrong, members and associates of the trade still perpetuate the myth that the purchase of a car dealership can be that effortless.

    As a natural consequence of the ROI method, Chevrolet Silverado K1500 LT Mondovi WI 54755 purchase prices will fluctuate because one would tend to expect to make more during “good” times, versus “bad.” Therefore, when one states that the values for blue sky or goodwill are dropping, their statement has nothing to do with the “value” of the dealership. Furthermore, there is no information in the foregoing statement to help one decide a reasonable value to pay for a dealership. Rules of thumb are only guides. Guides are good Chevrolet Silverado K1500 LT Mondovi WI 54755 servants, but bad masters.

    If a dealer is going under and throws a prospective purchaser the keys to the building and says: “It’s yours. I just want out.” That act does not make the dealership worth more or less. The questions a buyer must ask are– (a)” what is it going to cost me to open the doors?” and (b) “what do I think I will earn after I own the store?” In other words: Chevrolet Silverado K1500 LT Mondovi WI 54755 “What is my expected return on the investment?”

    At one time there was a dealer group in Colorado that presented an offer for the existing dealer to pay them (the buyer) $2,000,000 for them to take-over the stores. The offer was based upon projections of what the stores would lose while buyer tried to turn them around. The seller refused and ended-up losing several million more before the stores closed. The dealerships properties were eventually Chevrolet Silverado K1500 LT Mondovi WI 54755 sold to a church.

    A good checklist for valuing car dealerships can be found in IRS Revenue Ruling 59-60, published by the Internal Revenue Service in 1959. While the ruling (59-60) was intended to outline and review in general the approach, methods and factors to be considered in valuing shares of the capital stock of closely held corporations for estate tax and gift tax purposes, the methods discussed are applicable to valuing an automobile dealership Chevrolet Silverado K1500 LT Mondovi WI 54755 and valuing blue sky in an asset sale simply by backing-out the amount of the stock valuation attributable to goodwill/blue sky.

    The Five Biggest Mistakes Buyers of Automobile Dealerships Make:

    1. Thinking that when they verify earnings they have completed a major task. The truth is, what the seller made or lost does not matter. A plethora of details and formulas need to be applied to determine what the new owner can net. What rent Chevrolet Silverado K1500 LT Mondovi WI 54755 factor PNUR can the store afford? Do those numbers correlate to the percentage of gross requirements?

    2. Overestimating vehicle sales projections. The first question is: “What can the new owner realistically retail?” We have seen too many dealerships that went under because the buyer could not accurately predict potential sales. On more than one occasion we have seen factories and lenders approve dealerships where the prospective purchasers projected sales volumes that exceeded the volume of Chevrolet Silverado K1500 LT Mondovi WI 54755 the area’s historical sales leaders.

    3. Famous buyers thinking their names alone can turn-around dealerships or sell cars. We can name more unsuccessful, former car dealers that are famous, than successful car dealers that are famous. We have one photo that depicts a famous athlete getting a business award from the President of the United States. He went to the White House and received the award the year before the factory closed his stores. Either Chevrolet Silverado K1500 LT Mondovi WI 54755 nobody saw it coming, or nobody cared.

    4. Thinking that buying a store at a low or zero multiple of earnings means they got a bargain. The biggest misconception of a bargain is when the factory awards a new point. Most people think they got something for nothing. They really did not. The ones that do succeed, however, usually succeed because of the timing and the location — not because of the dealer.

    The fact is, Chevrolet Silverado K1500 LT Mondovi WI 54755 it takes about a year to build the service department of a new point, yet the dealer must capitalize the store as though it were already operating on 8-cylinders. In many instances, a new point suffers through months of losses until, if ever, it finally becomes a successful store. Those losses are “blue sky.” In other instances, it is the second owner that makes a go of it and in some instances, such as Chevrolet Silverado K1500 LT Mondovi WI 54755 the Englewood store mentioned above, the point goes away.

    The savvy purchaser understands there is a value to buying a dealership that has its number is in the phone book, a loyal service base and repeat customers. The main value is that the day after the store is sold there are people lined-up for service, people buying parts and customers coming back to the store. That is worth a bonus (blue sky) to the owner Chevrolet Silverado K1500 LT Mondovi WI 54755 even if the store has been losing money.

    5. Thinking there is some “magic” formula that will make a store successful. The only formula that will work most of the time is a mixture of hard work and knowledge of the retail automotive business. Each of those words is an operative word: “retail” and “automotive.” Knowledge of another business is not enough.

    One last bit of advice to rookies. When making changes in the retail automotive Chevrolet Silverado K1500 LT Mondovi WI 54755 business act swiftly. Erasers are made because people make mistakes. We have yet to meet the person who has never used one, although in today’s world one might substitute the word “eraser” with “backspace” or “delete. When a mistake is made, the trick is to analyze, decide and act quickly. Do not hesitate to correct errors and bad decisions.

    That advice has been around for thousands of years, both in the proverbs one learns as Chevrolet Silverado K1500 LT Mondovi WI 54755 a child (such as “A stitch in time, saves nine” and “He who hesitates is lost,” and so forth), and in Ecclesiastes 12:12 “But, my son, be warned — there is no end of opinions ready to be expressed. Studying them can go on forever and become very exhausting!”

    In summation, do not hesitate to buy a car dealership in a bad economy, just buy it correctly. Read the articles referred to above and act Chevrolet Silverado K1500 LT Mondovi WI 54755 upon them.

    “A dealership should be bought for one reason and one reason only — to make money. It should not be bought because it is close to home, because the buyer likes the franchise, because a partner wants to provide a job for a relative or, because the building is attractive. A dealership is purchased to make money and, in order to make money, it has to be “bought right”. A Practical Guide to Chevrolet Silverado K1500 LT Mondovi WI 54755 Buying and Selling Automobile Dealerships, National Legal Publishing Co. (1989), at page 2-4.

    That was written twenty years ago. It was true then and it is true today.

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    • 30636159.pdf

      Brian & Lois Ferries noRthERn InVEStMEnt Co. Clerk & Cashier, Mondovi, WI 715.926.4265, [email protected] Registered Wisconsin Auction Co. Lic. #10 Rep. by Dick Taylor, 715.299.7321, dtaylor ...

    • Wisconsin Legislature: Jeff Smith to face Mel Pittman; Rob Grover and Paul Buhr win Assembly primaries

      In the 92nd Assembly District, Democrats Rob Grover of Galesville (49 percent) defeated Desiree Gearing-Lancaster of Black River Falls (29 percent) and Max Hart of Black River Falls in the race to tak...

    • ALH-Mondovi: Full-Time Day Shift RN

      Special Features/Requirements (license, certificates, etc): Valid Wisconsin Registered Nurse license. Follows/adheres to organization, federal/state regulations and guidelines, including Resident/Clie...

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    • Mondovi, WI 10-day Weather

      <img class="styles__noscript__2rw2y" src="https://dsx.weather.com//util/image/w/ba8f6c2f-3131-49bd-9474-a75c29dd0788_815x458.jpg?v=at&w=1280&h=720&api=7db9fe61-7414-47b5-9871-e17d87b8b6a0" srcset=" ...

    • Judy Sandberg

      Judy Lillian Sandberg, age 72, of Eleva, went to her eternal home on June 22, 2018 at Luther Hospital in Eau Claire, WI. She was surrounded by her loving family and friends. Judy was born on November ...

    • Democratic gubernatorial candidates campaign in Mondovi

      MONDOVI, Wis. (WEAU) --A group of democratic candidates hoping to become Wisconsin's next Governor attended a meet and greet with local community members. Democratic candidates are hoping to capture v...

    • Mondovi area woman announces run for 93rd Assembly

      Mondovi (WQOW) - Charlene Warner, of rural Mondovi, announced her candidacy for Wisconsin’s 93 rd Assembly District. Warner, a Democrat, is currently the only challenger to incumbent Warren Petryk. “G...

    • Melvin E. Becker

      Edgerton, WI -- Melvin E. Becker, age 82, of Edgerton, died Friday, April 20, 2018, at St. Mary’s Hospital, Madison. He was born in Mondovi, WI, on February 10, 1936, the son of Otto Louis and Junice ...

    • Judy Lubinsky

      Judy A. Lubinsky, age 70, of Mondovi, WI, passed away on Tuesday, April 10, 2018, at Sacred Heart Hospital in Eau Claire, WI, surrounded by her family; following a long and courageous battle with canc...

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