When each piece of collateral is sold by the dealer the.
Retail floor plan financing.
However not all inventory finance companies offer retail and dealership wholesale financing options.
Has provided extraordinary service in manufactured home lending to help home owners reach their dream.
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.
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.
Retail floor plan benefits.
These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability.
To learn more about our dealer floor plan financing program call us at 1 800 522 2013 ext.
Floor plan finance options are popular within the automotive industry.
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Let s say you make a profit of 3 000 per car sold.
Floor planning is a type of inventory financing for large ticket retail items.
Competitive interest rates and referral fees consistent and prompt loan administration 1.
Floor planning is commonly used in new and used car dealerships.
We create innovative floorplan financing plans for dealers and manufacturers giving dealers the credit they need to purchase more inventory and increase profits all around.
Contrary to common perceptions most car dealers do not pay cash for the.
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.
While some lenders are unable to properly serve independent dealers nextgear capital has proudly served the independent dealer market for over ten years our floor plan financing options allow dealers to finance nearly any.
Retailers use a short term loan to purchase inventory items and the loan is repaid as inventory is sold.
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.
Managing your inventory to meet demand is key to the success of your auto dealership.
Not only will our retail floor plan financing options allow you to purchase more units but our universal source network of over 1 000 live and online auctions provides you access to today s most sought after makes and models.
These loans are made against a specific piece of collateral i e.
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