Gm Floor Plan Financing

An auto rv manufactured home etc. These loans are made against a specific piece of collateral i e. However not all inventory finance companies offer retail and dealership wholesale financing options.

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Gm floor plan financing.

Dealer floor plan financing frequently asked questions for borrowers and lenders what is floor plan financing. 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. When you re all in with gm financial as a floorplan dealer we go the extra mile to support you. August 2019 secret sauce series.

The swing is showing up in the financial results for all six public dealership groups. Get the support you need to grow your business with floor plan financing dealer loans floor plan insurance and a cash management program. Floor plan financing is a revolving line of credit that allows the borrower to obtain financing for retail goods. 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.

Floor plan finance options are popular within the automotive industry. How does floor plan financing work specifically to benefit auto dealers. Floor plan finance companies are uniquely attuned to the needs of auto dealers. In this episode we asked alan strezeski from troy alan buick outside pittsburgh why being a gm financial floorplan store has made a difference in his bottom line and the three ways gm financial helps give your dealership the extra kick needed to be competitive.

In the second quarter floorplan interest expense jumped for the six in some cases by double digit percentages. 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. 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.

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