MOVING THE NEEDLE IN FLOORPLANNING

Finance Programs

Standard Plan

Our standard plan was created to meet the cash flow needs of our dealers, understanding that curtailments and unknown fees can hurt your cash flow during different seasons.

A line of credit (LOC) will be issued to the dealer in the amount based on their credit profile. Lines of credit will be revolving so when you use it and pay it off, those funds become available to use again. The interest rate will be determined by your credit profile. The lower the risk the lower your rate. The cost of your line of credit will be assessed weekly and calculated using your interest rate against the amount of your line that you utilize. The weekly fee is your only fee! There will be no additional fees for the use of your line.*

If you purchase a vehicle for $5,000 when you pay the vehicle off you will owe $5,000. There are no On Fees, Off Fees, Title Fees, Storage Fees, Curtailment Fees, Extension Fees etc. Less fees allows you to manage your cash flow more effectively.

THE FOLLOWING EXAMPLE ASSUMES A 25% INTEREST RATE.

( RATES VARY BASED ON THE DEALERS CREDIT PROFILE)

  • You have a LOC of $50,000.
  • You buy 10 vehicles each at $5,000 using your entire LOC.
  • You pay $240 Line of Credit fee per week for the use of the funds.
  • You have NO curtailments or additional fees.
  • You keep buying and selling cars utilizing your maximum line you will continue to only pay the $240 a week.
*There are fees for Lot Checks, Unverified units at lot checks, Non Auction Purchase fee, Returned checks, Fedex requests and Bank wires.
Usage of funds and interest rate will change the example above.

Reserve Plan

Everyone is always looking for cheaper interest, right?? As a floor plan company we are always looking for less risk. In an effort for both of us to get what we want we have created the Reserve Plan.

This plan is structured the same as the Standard Plan, but to offset our risk and provide you us a cheaper interest rate, we put a reserve on each vehicle floorplanned. The reserve per vehicle would be established by your credit profile. The reserve would be considered “Unrealized” until the vehicle is paid off; at that time it becomes “Realized” . Once your Realized Reserve reaches 10% of your approved LOC your interest rate for your weekly rate would be reduced by 10% of the initial rate. The higher your Reserve the more you can reduce your interest rate.

For example,

  • You floor plan a car for $5,000 a $100 reserve would be assessed on your account as Unrealized Reserve.
  • When you pay off the car you pay $5,100. The $100 becomes Realized Reserve.
  • As you purchased and payoff cars your Realized Reserve grows. You will be able to see these how much in your account at all time in the Dealer Portal.
  • Once the balance of Realized reserve reached 10% , we will reduce the interest rate used to calculate your weekly LOC fee.
  • Realized Reserves are your funds. We ask that you maintain a level of 10%. You may request a disbursement for anything over 10%. (provided your account is in good standing).