What you don t realize is that like most new car dealers a floor plan was used to finance the cars.
Floor plan for used car dealer.
But because inventories are so immense the car business is very sensitive to both floor plan interest rates and the tax treatment of interest expenses.
No curtailments or audit fees.
New and used vehicle floor plan financing at competitive rates and terms focused on meeting the needs of new car franchised dealerships.
Floor plan finance companies are uniquely attuned to the needs of auto dealers.
We finance independent dealers with a long term floor plan that has no curtailments for maximum cash flow up to 180 days.
Call or apply now 864 234 9696.
How does floor plan financing work specifically to benefit auto dealers.
Afc helps independent automotive dealers expand their businesses by providing inventory finance solutions and key operations related services.
Using cash or a bank line of credit to purchase inventory can work for some car dealers but many floor plan financing companies offer a variety of dealer specific benefits.
Acquiring a floor plan before lending funds floor plan financing companies will often ask dealers to provide additional information and documentation to verify dealership details.
Carbucks provides floor plan financing to independent auto dealers for the purchase and holding of their inventory.
Though dealership savings can be used to purchase inventory one of the simplest means of acquiring inventory is using floor plan financing for used car dealers.
With more than 120 locations afc is one of the largest floorplan providers in north america and offers unmatched local access and customer service.
Variety of floor plan structures and interest rate options to meet your needs and reduce your interest expense.
Simply it is a way for an auto dealer to use a lender s funds to finance the cars and until each of them is sold the lender holds title to the cars.
If your holding cost per day per unit is 44 63 and your turn time is 60 days you will spend 2677 of your profit holding on to a non selling car.
Floor plan loans are among the safest of all financial instruments.
Let s say you make a profit of 3 000 per car sold.
A one percent rate increase can raise some dealership costs by millions of dollars.
Floor plan statements and inventory information available online.
There s never been an easier way.
These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability.
Floor cars for up to.
Automated floor plan audit.
City auto finance is a locally owned and operated floorplan company dedicated to providing unparalleled customer service and meeting the unique financial needs of used car dealers in the mid south.
Monday friday 8 30 5 30 est.
The dealer then receives payment hopefully including a profit and remits the balance to.
