How To Get A Floor Plan Loan

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.

How to get a floor plan loan.

Our gold plan is the industry s only no fee floor plan and offers rates as low as 80 day per 1 000 financed. Offers subject to credit approval. Special financing credit financing promotion details. When a dealer sells a car the dealer repays the floor plan lender within one to five days of the sale.

Special financing and discount offers can t be combined. Bad credit and hiccups on credit history aren t always deal breakers but they will likely reduce the amount for which you qualify. Dealer floor plan financing pilot program dfp find a sba resource. Dealership floor plan financing when your dealership needs a line of credit for inventory we can help.

Credit cards are issued by a bank to an individual. This floor plan finance formula is essentially the following. How do i get started using e tran. Specifically you should have a history of utilizing and repaying debt.

To put it in the simplest terms floor planning and floor plan financing work almost like a credit card made solely for purchasing vehicle inventory. Monthly desired sales divided by how many times your lot is turned per year multiplied by 12. The arrangement is most commonly used when large assets such as automobiles or household appliances are involved. Floor planning is a method of financing inventory purchases where a lender pays for assets that have been ordered by a distributor or retailer and is paid back from the proceeds from the sale of these items.

System is under maintenance please try after 6 00am. 12 months special financing offer isn t automatic and must be requested at time of purchase. We reserve the right to discontinue or alter the terms of these offers any time. Used car floor plans are often only made by a lender if the lender also has a new car floor plan loan for the same car dealer.

Reach out to local and regional. And the floor plan lender releases their lien on the specific vehicle that was sold so that the title may be either. First and foremost to qualify for a floor plan you need to have credit. Our dedicated team understands the automotive industry and specializes in inventory financing to allow you to focus on dealership operations.