Floor Planners And Finacing For New Dealers

These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability.

Floor planners and finacing for new dealers.

Floor plan lenders include local and regional banks large national banks and financing companies owned by the manufacturing companies like toyota financial or ford credit. Monday friday 8 30 5 30 est. Our floor plans offer quick cash flow great terms and no curtailments. The loans are often made with a one year term and based on an aggregate budget.

New and used vehicle floor plan financing at competitive rates and terms focused on meeting the needs of new car franchised dealerships. 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. Floor planning is a form of financing for large ticket items displayed on showroom floors. For example a dealer might be able to borrow 10 million over the year to purchase 300.

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 finance companies are uniquely attuned to the needs of auto dealers. Variety of floor plan structures and interest rate options to meet your needs and reduce your interest expense. Call or apply now 864 234 9696.

Let s say you make a profit of 3 000 per car sold. To learn more about our dealer floor plan financing program call us at 1 800 522 2013 ext. Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods.

These loans are made against a specific piece of collateral i e. 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. For example automobile dealerships utilize floor plan financing to run their businesses. So you need floor plan financing that will infuse your automotive dealership with new cars without terms that could prove difficult down the road.

There s never been an easier way. Floor plan statements and inventory information available online. 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. An auto rv manufactured home etc.

Dealers can also take advantage of the most competitive floor plan inventory insurance programs in the nation.