Floor Plan Financing For New Dealers

Floor planning is a form of financing for large ticket items displayed on showroom floors.

Floor plan financing for new dealers.

Let s say you make a profit of 3 000 per car sold. The variable discount is for the life of the loan as long as the loan is retained under a variable business term loan product. For example automobile dealerships utilize floor plan financing to run their businesses. Dealer dealer floor plans.

1 discount variable and fixed rate offers only available on new lending with a minimum loan amount of 200 000. These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability. 1616 and a representative will be in touch with you soon. Monday friday 8 30 5 30 est.

Keep it with car bucks. Call or apply now 864 234 9696. Our floor plans offer quick cash flow great terms and no curtailments. These loans are made against a specific piece of collateral i e.

You may obtain a dealer floor plan from a bank or there are many dealer floor plan providers listed by clicking here you may also go to google bing or yahoo and type in dealer floor plan providers. 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. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods. 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 financing is also done for large appliances mobile homes and boats among other items and these products are usually sold to consumers with a financing contract. The dealer then receives payment hopefully including a profit and remits the balance to the lender who in turn releases the title to the car to the new purchaser. So you need floor plan financing that will infuse your automotive dealership with new cars without terms that could prove difficult down the road. In addition to freeing up the cash a dealer has on hand other floor plan financing benefits can include extra flexibility in terms of paying off a particular piece of inventory payment extensions and credit increases if.

A dealer floor plan is a loan for your vehicle inventory. Dealers can also take advantage of the most competitive floor plan inventory insurance programs in the nation. Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing. To learn more about our dealer floor plan financing program call us at 1 800 522 2013 ext.

It is a plan to finance the vehicles on your floor. There s never been an easier way.