Floor Plans Used Car Dealer

Floor planning is commonly used in new and used car dealerships.

Floor plans used car dealer.

Car bucks was designed for you. Carbucks provides floor plan financing to independent auto dealers for the purchase and holding of their inventory. Floor plan finance companies are uniquely attuned to the needs of auto dealers. 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.

How does floor plan financing work specifically to benefit auto dealers. No curtailments or audit fees. Floor cars for up to. Floor plan loans are among the safest of all financial instruments.

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. A one percent rate increase can raise some dealership costs by millions of dollars. Let s say you make a profit of 3 000 per car sold. Call or apply now 864 234 9696.

Keep it with car bucks. 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. These floor plan finance formulas incorporated with your turn time can help to make or break your dealership s profitability. Monday friday 8 30 5 30 est.

But because inventories are so immense the car business is very sensitive to both floor plan interest rates and the tax treatment of interest expenses. Contrary to common perceptions most car dealers do not pay cash for the.