Floor Plan Financing For Used Car Dealers

We provide flexible credit lines from 50 000 to 1 000 000 and offer a variety of floorplan financing programs specifically geared to the needs of the independent used car dealer.

Floor plan financing for used car dealers. Our floor plans offer quick cash flow great terms and no curtailments. To do this subtract your monthly selling expenses from your total expenses for the month. Keep it with car bucks. Call or apply now 864 234 9696.

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. 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. Auto dealerships need to keep their showrooms and lots stocked full of inventory and to do that they need a certain level of financial flexibility. So they work with lenders who provide floor plan lines of credit for those vehicles financing through a lender that is secured by each vehicle and its vin number.

It frees dealerships to build their inventory without tying up the funds they may need for other operational expenses. Dealers finance provides financial support to hundreds of independent used car dealers in the southeast us. Dealers can then use their floor plan line of credit to purchase inventory from auctions and other inventory sources. No curtailments or audit fees.

City auto finance is a locally owned and operated floorplan company dedicated to providing unparalleled customer service and meeting the unique financial needs of used car dealers in the mid south. Floor cars for up to. That s what makes floor plan financing so invaluable. This floor plan finance formula requires a good handle on total dealership expenses and inventory for the entire month.

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. What you don t realize is that like most new car dealers a floor plan was used to finance the cars. Acquiring a floor plan before lending funds floor plan financing companies will often ask dealers to provide additional information and documentation to verify dealership details. Floor planning is a type of inventory financing.

Monday friday 8 30 5 30 est. First figure out your monthly holding cost.