Forrest Cate closing

Forrest Cate Motors in Dunlap, Tenn., is closing and many of its assets will be auctioned Saturday.

Forrest Cate III said he is closing his Ford and Chrysler dealership because of the credit crunch.

The parts and service operations shut at the first of April, he said. Various 2008 and 2009 Chrysler, Dodge and Ford models are available for sale through next week, he said.

“They’re available at closeout prices,” Mr. Cate said.

Jay Godsey of Century 21 Professional Group will conduct the auction at 10:02 a.m. CST at the dealership, said Pamela Brown, the real estate firm’s broker-owner.

The dealership lot was leased property, so it will not be included in the auction, Mr. Cate said. The dealership is on Rankin Avenue, which is part of U.S. Highway 127.

The auction includes nearly 16 acres of other property on U.S. 127, more than 6 acres on Daus Mill Road and two lots in the Hidden Valley Ridge, Ms. Brown said.

Personal property of Forrest Cate Motors that will be offered ranges from a horse trailer to tire machines and office furniture. Detailed auction information is available at c21progroup.com or by calling 605-8026. Inspections are available today and Saturday before the auction.

Mr. Cate said that his father, Forrest Cate Jr., and grandfather were Chattanooga auto dealers. His father’s dealership, Forrest Cate Ford at 301 E. 20th St., was sold in 1981 to C. Austin Watson, according to newspaper archives. Mr. Watson had been co-owner of Forrest Cate Ford, and later opened Mountain View Ford.

Mr. Cate previously owned a dealership in LaFayette, Ga., which is no longer open.