Floor Plan Finance Agreement

This agreement made this 13 th day of february 2012 by and between avangard auto finance inc.

Floor plan finance agreement.

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. Avangard a corporation organized under the laws of the state of pennsylvania having its principal place of business at 2708 commerce way suite 300 philadelphia pa 19154. How does floor plan financing work specifically to benefit auto dealers. Like any other financing facility the line must fit the financing needs of the borrower with some restraints to avoid excessive leveraging or over extension.

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 agreement. 3 amount of the line. In this agreement we us and our mean regions bank you and your mean the borrower.

And autosource enterprises inc. Floor plan finance companies are uniquely attuned to the needs of auto dealers. For example automobile dealerships utilize floor plan financing to run their businesses. This agreement means the floor plan financing agreement.

Capitalized terms used in this agreement and not otherwise defined are used with the meanings set forth in schedule i any undefined terms shall have the meaning as set forth in the alabama uniform commercial code.