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Discuss dealer floorplans in the Car Dealer Forum News forum at Car Dealer Forums; i am a new dealer. does anyone know the best way for someone like me ...
  1. #1
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    Default dealer floorplans

    i am a new dealer. does anyone know the best way for someone like me to get a floorplan. what stipulations will they require me to have before i can get one?


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    You need to go to a consultant which will give you a proper advice to get a floorplan..

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    jbird.. old post I know, but in case you are still looking I thought I'd reply.

    If you even have half decent personal credit you can get a $50,000-75,000 floorplan with AFC. They are by far the easiest to get a floorplan with. Of course it comes at a cost. $75 a vehicle, $100 fee for the curtailments, 7.5% interest, and a few other misc fee's. Good for buying cheap stuff you can turn fast. They will also double your line every 3 months.. which is nice. I am in Canada, but I dont think AFC is really any different in the USA as far as thier application criteria.

    Cheapest money you can get is at the bank if you have a relationship with them. I've got $100k line of credit at my bank now and I only pay 2.25% interest.. no other interest or fee's.. so that is by far the cheapest. I had $60000 on that line of credit last month and the interest only payment was like $130-140.

    Hope that helps.

  5. #5
    Senior Member RatiRut's Avatar
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    The dealers buy the vehicles and give the titles to the Floorplanner. The Floorplanner holds the title until the vehicle is sold. The dealer sells the vehicle and pays the Floorplanner for the unit. Then the title is registered into the new buyers name. In many cases interest is charged daily. The rate may be a flat rate. Sometimes it is a negotiated rate.The interest may also change depending on how long the dealer has the vehicle in their inventory. A floor planner may deal with huge numbers of units and take on a tremendous investment. Accuracy is vital for tracking and management.

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