Floor Plan Financing Used Car Dealers

Local dealerships purchase their inventories through financing called floor plan lending here s how it works.

Floor plan financing used car dealers.

Keep it with car bucks. Call or apply now 864 234 9696. Floor cars for up to. Local dealerships have a better sense than anyone what vehicles will sell best in their markets cars or trucks suv s or compacts sports cars luxury cars or more affordable models.

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. Monday friday 8 30 5 30 est. 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. 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.

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. Let s say you make a profit of 3 000 per car sold. There s never been an easier way. Our floor plans offer quick cash flow great terms and no curtailments.

Floor plan finance companies are uniquely attuned to the needs of auto dealers. The dealer then receives payment hopefully including a profit and remits the balance to. How does floor plan financing work specifically to benefit auto dealers. No curtailments or audit fees.