How To Get A Used Car Floor Plan

How does floor plan financing work specifically to benefit auto dealers.

How to get a used car floor plan.

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. 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. 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. No curtailments or audit fees.

Our gold plan is the industry s only no fee floor plan and offers rates as low as 80 day per 1 000 financed. We can even floor your trade in vehicles and purchases from other independent auctions as well as vehicles purchased from other dealers and new car dealerships. An auto rv manufactured home etc. Afs is accepted at all manheim and adesa auto auctions across the country.

These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability. 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. 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. Carbucks provides floor plan financing to independent auto dealers for the purchase and holding of their inventory.

There s never been an easier way. Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing. We finance independent dealers with a long term floor plan that has no curtailments for maximum cash flow up to 180 days. Contrary to common perceptions most car dealers do not pay cash for the.

These loans are made against a specific piece of collateral i e. 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. Keep it with car bucks. Floor planning is commonly used in new and used car dealerships.

Floor plan finance companies are uniquely attuned to the needs of auto dealers. Local dealerships purchase their inventories through financing called floor plan lending here s how it works. Floor cars for up to 180 days for maximum cash flow. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods.

Let s say you make a profit of 3 000 per car sold. The first thing to note about our floor plan financing is how versatile it is.