Document:

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                                                                   EXHIBIT 10.90

                          WHOLESALE SECURITY AGREEMENT

To: General Motors Acceptance Corporation (GMAC)

         In the course of our business, we acquire new and used cars, trucks and
chassis ("Vehicles") from manufacturers or distributors. We desire you to
finance the acquisition of such vehicles and to pay the manufacturers or
distributors therefor.

         We agree upon demand to pay to GMAC the amount it advances or is
obligated to advance to the manufacturer or distributor for each vehicle with
interest at the rate per annum designated by GMAC from time to time and then in
force under the GMAC Wholesale Plan.

         We also agree that to secure collectively the payment by us of the
amounts of all advances and obligations to advance made by GMAC to the
manufacturer, distributor or other sellers, and the interest due thereon, GMAC
is hereby granted a security interest in the vehicles and the proceeds of sale
thereof ("Collateral") as more fully described herein.

         The collateral subject to this Wholesale Security Agreement is new
vehicles held for sale or lease and used vehicles acquired from manufacturers or
distributors and held for sale or lease, and all vehicles of like kinds or types
now owned or hereafter acquired from manufacturers, distributors or sellers by
way of replacement, substitution, addition or otherwise, and all additions and
accessions thereto and all proceeds of such vehicles, including insurance
proceeds.

         Our possession of the vehicles shall be for the purpose of storing and
exhibiting same for retail sale in the regular course of business. We shall keep
the vehicles brand new and we shall not use them illegally, improperly or for
hire, GMAC shall at all times have the right of access to and inspection of the
vehicles and the right to examine our books and records pertaining to the
vehicles.

         We agree to keep the vehicles free of all taxes, liens and
encumbrances, and any sum of money that may be paid by GMAC in release or
discharge thereof shall be paid to GMAC on demand as an additional part of the
obligation secured hereunder. We shall not mortgage, pledge or loan the vehicles
and shall not transfer or otherwise dispose of them except as next hereinafter
more particularly provided. We shall execute in favor of GMAC any form of
document which may be required for the amounts advanced to the manufacturer,
distributor or seller, and shall execute such additional documents as GMAC may
at any time request in order to confirm or perfect title or security in the
vehicles. Execution by us of any instrument for the amount advanced shall be
deemed evidence of our obligation and not payment therefor. We authorize GMAC or
any of its officers or employees or agents to execute such documents in our
behalf and to supply any omitted information and correct patent errors in any
document executed by us.

         We understand that we may sell and lease the vehicles at retail in the
ordinary course of business. We further agree that as each vehicle is sold, or
leased, we will faithfully and promptly remit to you the amount you advanced or
have become obligated to advance on our behalf to the manufacturer, distributor
or seller, with interest at the designated rate per annum then in effect under
the GMAC Wholesale Plan, The GMAC Wholesale Plan is hereby incorporated by
reference.

         GMAC's security interest in the vehicles shall attach to the full
extent provided or permitted by law to the proceeds in whatever form, of any
retail sale or lease thereof by us until such proceeds are accounted for as
aforesaid, and to the proceeds of any other disposition of said vehicles or any
part thereof.

         In the event we default in payment under and according to this
agreement, or in due performance or compliance with any of the terms and
conditions hereof, or in the event of a proceeding in bankruptcy, insolvency or
receivership instituted by or against us or our property, or in the event that
GMAC deems itself insecure or said vehicles are in danger of misuse, loss,
seizure or confiscation, GMAC may take immediate possession of said vehicles,
without demand or further notice and without legal process; for the purpose and
in furtherance thereof, we shall, if GMAC so requests, assemble said vehicles
and make them available to GMAC at a reasonable convenient place designated by
it, and GMAC shall have the right, and we hereby authorize and empower GMAC, to
enter upon the premises wherever said vehicles may be and remove same. We shall
pay all expenses and reimburse GMAC for expenditures, including reasonable
attorney's fees and legal expenses, in connection with GMAC's exercise of any of
its rights and remedies under this agreement.

         In the event of repossession of the vehicles by GMAC, then the rights
and remedies applicable under the Uniform Commercial Code shall apply.

         Any provision hereof prohibited by law shall be ineffective to the
extent of such prohibition without invalidating the remaining provisions hereof,

         IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
executed by its duly authorized representative this 12 Day of March 2002.

Witness and Attest:

/s/                                                   Major Chevrolet Inc.
-----------------------------                      -----------------------------
                                                         Dealer's Name

Accepted                                           By: /s/
                                                       -------------------------

GENERAL MOTORS ACCEPTANCE CORPORATION              Its:        President
                                                       -------------------------

                                                    43-40 Northern Blvd., Long
By: /s/ Asst. Secretary                             Island City, New York 11101
    -----------------------------------------      -----------------------------
              Its Authorized Agent                       Address of Dealer

  500 Enterprise Drive, Rocky Hill, CT 06067
---------------------------------------------
                   Address

GMAC 176
Ptd. in U.S.A. 50M 4-91<PAGE>
                                                                   EXHIBIT 10.91

         [HSBC LOGO]

                                                        March 20, 2002

Bruce Bendell, President
The The Major Automotive Companies, Inc.
43-40 Northern Blvd.
Long Island City, NY 11101-1020

                              Re: - Major Chrysler, Plymouth, Jeep & Eagle, Inc.
                                    Major Dodge, Inc.
                                    Major Subaru, Inc.
                                      d/b/a Major Kia of Long Island City

Dear Bruce:

         Please be advised that HSBC Bank, USA (the "Bank") has approved the
following floor plan lines of credit for the subject dealership franchises,
subject to the terms and conditions contained herein.

         The issuance of the credit facilities will be subject to our continued
due diligence review of the various business and financial affairs of the
proposed borrowing entities, their corporate parent and management. Approval of
the proposed tenors and conditions is further subject to the execution and
delivery of documentation satisfactory in form and substance to HSBC's Banks
USA's legal counsel. In addition to the following terms and conditions, this
approval is subject to a satisfactory review of the initial inventory audit,
currently scheduled to take place on Tuesday, March 26, 2002.

Borrowers/Facilities:  Facilities to consist of a total of $10,000,000 in
                       various new/demonstrator and used/program floor plan
                       lines of credit as described below.

                       1) Major Dodge, Inc.  - $3,500,000 Floor plan line for
                                (MDI)          new/demonstrator vehicles.
                                               $500,000 Floor plan line for
                                               Program Vehicles and/or Used
                                               Vehicles.

                       2) Major Chrysler, Plymouth,
                          Jeep & Eagle, Inc. - $3,500,000 Floor plan line for
                               (MCPJI)         new/demonstrator vehicles.
                                               $500,000 Floor plan line for
                                               Program Vehicles and/or Used
                                               Vehicles.

                       3) Major Kia, Inc     - $1,500,000 Floor plan line for
                                (MKI)          new/demonstrator vehicles.
                                               $500,000 Floor plan line for
                                               Program Vehicles and/or Used
                                               Vehicles.

Lender:                HSBC Bank, USA
                       534 Broad Hollow Road
                       Melville, NY 11747

Guarantors:            The Major Automotive Companies, Inc, (MAC) who is the
                       corporate parent of MDI, MCPJI, & MKI will provide its
                       unlimited corporate guaranty for each of the proposed
                       facilities. MAC will provide an audited fiscal year-end
                       statement (10K) and quarterly

         HSBC BANK USA
<PAGE>
                       1-3) - USED/PROGRAM VEHICLES - 10% monthly, beginning 90
                       days after date of initial floor plan advance. Vehicle
                       must be paid within 270 days.

Collateral:            l-3) -- New and used vehicles of all types, parts and
                       accessories, inventory, and all equipment, wherever
                       located, whether now owned or hereafter acquired, with
                       all accounts, chattel paper, instruments and documents
                       relating thereto; all general intangibles including sums
                       receivable from vendors by way of holdbacks, rebates,
                       refunds, discounts, bonuses, and the like.

Other Conditions:      -  Monthly floor plan audits gill be conducted on an
                          unannounced basis. ADDITIONALLY, INITIAL FUNDING AND
                          CONTINUED FUNDING UNDER THE FLOOR PLAN LINES IS
                          CONDITIONAL, A ON SATISFACTORY BANK-CONDUCTED AUDITS.

                       -  Except as may be required in the ordinary course of
                          business, each of the Borrowers is not to incur any
                          outside debt to another financial institution.

                       -  Funds deposited by HSBC Bank to finance vehicles for
                          any of the three-(3) dealerships, are not to be used
                          to fund any other corporate entity,

                       -  Execution of the Bank's "Retail & Wholesale Dealer's
                          Agreement for each Borrower,

                             Each floor-plan borrower shall submit to the bank
                             the following:

                             -  Monthly dealer statements for each of the
                                franchises, including, MDI, MCPJI & MKI.

                             -  Within 120 days of fiscal year end, accountant
                                prepared statements or tax returns to support
                                unadjusted factory statements.

                             -  Annual evidence that insurance coverage,
                                satisfactory to the Bank, is in place naming
                                bank al loss payee.

                             -  Sold floor-plan vehicles are required to be paid
                                off within three calendar days of the date of
                                payment from the purchaser or finance source
                                and, in any event, no later than ten calendar
                                days from date of sale.

                             -  All operating accounts are to be maintained at
                                HSBC, Bank, USA.

                             -  Monthly principal reductions will be due and
                                payable with floor plan interest payments.

                             -  Floor plan lines are not available to purchase
                                vehicles that are designated to be used as
                                rental or lease vehicles.

                             -  Advances under the floor plan lines of credit
                                will be by acceptance of the manufacturer's
                                draft for payments drawn on the bank or by note
                                and security agreement submitted by you to the
                                bank.

                             -  All legal fees incurred by the Bank, acre for
                                the account of the respective Borrowers.

We review customer's non-contractual lines of credit, such as these, at least
annually upon submission of appropriate financial information. We ask that you
advise us promptly of any material adverse changes in he financial position of
the Borrowers, Guarantors, or any affiliates or subsidiaries of the Borrowers.
<PAGE>
                       10Q's to the Bank, within 120 days and 90 days,
                       respectively, of the respective filing dates.

                       Major Chevrolet, Inc. (MCI) - an affiliated company of
                       the Borrowers and a wholly owned subsidiary of the parent
                       company, MAC, will provide its unlimited corporate
                       guaranty for each of the proposed dealerships. MAC will
                       provide monthly dealer statements to the Bank within 15
                       days from the end of the month being reported.

                       Bruce Bendell, who is a major stockholder in MAC and is
                       the president and CEO of MAC, will provide his unlimited
                       personal guaranty for each of the facilities. Persona
                       financial statements are to be updated on an annual
                       basis. Additionally, a copy of the personal guarantor's
                       federal tax red is to be submitted annually, within 120
                       days of the end of the guarantor's fiscal tax year. If
                       the filing date should be extended, a copy of the
                       extension will be required, with the understanding that
                       once the tax return is filed, a copy of the tax return
                       will be delivered to the Bank.

                       Each of the corporate Borrowers will provide its
                       unlimited corporate guaranty to each of the other
                       corporate facilities with respect to all of the floor
                       plan lines.

Facilities:            1-3) -- Non-contractual Floor Plan Lines of Credit.

Purpose:               1-3) - Finance the purchase of new, used and program
                       vehicles.

Pricing:               1-3) - Either at the Bank's Prime Rate of Interest, less
                       1%, on a variable basis or at LIBOR plus 200 basis points
                       for incremental 30-day periods up to a mum 180 days.

<TABLE>
<CAPTION>
Advance Rates:         1-3)  New Vehicles
                             ------------

                       Vehicle Year             Loan-To-Value Percentage
                       ------------             ------------------------
<S>                                             <C>
                       2001 (beginning 1/1/02)  90% of factory invoice.
                       2002 (to 12/31/02)       100% of factory invoice.

                             Used Vehicles
                             -------------

                       2002                     90% of MSRP or factory invoice.
                                                Copy of invoice required.
                       2001                     90% of NADA trade-in value
                       2000                     80% of NADA trade-in value
                       1999                     80% of NADA trade-in value
                       1998                     80% of NADA trade-in value
                                                (expires 10/1/02)

                             Program Vehicles
                             ----------------

                       2002                     100% of auction invoice.
                       2001                     100% of auction invoice
                                                (expires 10/1/02).
</TABLE>

Curtailments:          1-3) - NEW VEHICLES - Beginning January 1st, following
                       the introduction of the subsequent year models, monthly
                       principal payment reductions of 2% of the invoice amount
                       for all carry-over new and unregistered vehicles will be
                       required until the vehicle is sold and/or the amount
                       financed is paid in full.
<PAGE>
Please call us at your earliest convenience to discuss any questions that you
may have. We look forward to expanding our relationship with The Major
Automotive Companies, Inc. and are ready to discuss the foregoing terms and
conditions with you.

Respectively,
/s/ Roger M. Coleman
------------------------
    Roger M. Coleman, VP
    HSBC Bank, USA.

Agreed To:

     (BORROWERS & GUARANTORS)

Major Chrysler, Plymouth Jeep & Eagle, Inc.

By /s/
   ----------------------------------------

Major Dodge, Inc.

By /s/
   ----------------------------------------

Major Subaru, Inc.
     d/b/a Major Kia of Long Island City

By /s/
   ----------------------------------------

     (GUARANTORS)

The The Major Automotive Companies, Inc.

By /s/
   ----------------------------------------

Major Chevrolet, Inc.

By /s/
   ----------------------------------------

    Bruce Bendell

/s/
-------------------------------------------

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