Floor Plan Financing Companies

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 companies. These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability. Since then we ve grown across north america. No curtailments or audit fees. Case studies supplementing working cash with a floor plan is a tried and true method to grow business.
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. Let s say you make a profit of 3 000 per car sold. With more than 120 locations afc is one of the largest floorplan providers in north america and offers unmatched local access and customer service. 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.
Tcf inventory finance inc. Where other inventory companies saw a reason to cut back or shut down we saw opportunity. Our floor plans offer quick cash flow great terms and no curtailments. Since our start in 2005 we have grown to service thousands of retail dealers nationwide.
Afc helps independent automotive dealers expand their businesses by providing inventory finance solutions and key operations related services. Keep it with car bucks. Floor cars for up to 180 days for maximum cash flow. 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.
The loans are often made with a one year term and based on an aggregate budget. Is a subsidiary of tcf bank and was established in 2008 in schaumburg il in the midst of the financial crisis. For example a dealer might be able to borrow 10 million over the year to purchase 300. Floor planning is a form of financing for large ticket items displayed on showroom floors.
In addition to freeing up the cash a dealer has on hand other floor plan financing benefits. There s never been an easier way. So we moved and we moved quickly. From utilizing auto dealer floor plans to stocking seasonal inventory tips for managing a successful lot are only a click away.
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.