How To Get A Used Car Floor Plan

Let s say you make a profit of 3 000 per car sold.

How to get a used car floor plan.

An auto rv manufactured home etc. Afs is accepted at all manheim and adesa auto auctions across the country. 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. Our floor plans offer quick cash flow great terms and no curtailments.

Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods. Car bucks was designed for you. No curtailments or audit fees. 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.

We finance independent dealers with a long term floor plan that has no curtailments for maximum cash flow up to 180 days. Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing. 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. How does floor plan financing work specifically to benefit auto dealers.

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. 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. Floor cars for up to 180 days for maximum cash flow. Carbucks provides floor plan financing to independent auto dealers for the purchase and holding of their inventory.

There s never been an easier way. Retail floor planning also referred to as floorplanning or inventory financing is a type of short term loan used by retailers to purchase high cost inventory such as automobiles these loans are often secured by the inventory purchased as collateral. 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. These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability.

Our gold plan is the industry s only no fee floor plan and offers rates as low as 80 day per 1 000 financed. These loans are made against a specific piece of collateral i e. The first thing to note about our floor plan financing is how versatile it is. 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. 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.