Car Financial Floor Plan

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Car financial floor plan. These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability. Car financial services has focused the floor plan product specifically on the needs of the sub prime and bhph dealer market. 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 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.

In addition to freeing up the cash a dealer has on hand other floor plan financing benefits can include extra flexibility in terms of paying off a particular piece of inventory payment extensions and credit increases if. 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. Let s say you make a profit of 3 000 per car sold. Receive a flexible credit line that you can use to buy used vehicle inventory.

Car financial is dedicated to serving the individual needs of automotive dealers and automotive non prime financial organizations like yours. Afc helps independent automotive dealers expand their businesses by providing inventory finance solutions and key operations related services. Finance your dealership inventory including demo vehicles auction purchases shop rentals daily rentals and more. 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.

Floor planning is a form of financing for large ticket items displayed on showroom floors. We offer competitive financing for qualified dealers. For example a dealer might be able to borrow 10 million over the year to purchase 300 new cars. 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.

Our floor plans offer quick cash flow great terms and no curtailments. With more than 120 locations afc is one of the largest floorplan providers in north america and offers unmatched local access and customer service. With more than 25 years of proven experience behind us you can be sure that car financial will be here for your business providing a stable source of funding and reliable service today and tomorrow. There s never been an easier way.

For example automobile dealerships utilize floor plan financing to run their businesses. Floor cars for up to 180 days for maximum cash flow.