Hello All,

My name is Lance and I hope to be an up and coming dealer in todays car world. I'm young (22) and ambitious. However, I need a little guidance even though I'm already being backed by my father who has 23 yrs of rxperience. He used to own his own car lot about 20 yrs ago and over the yrs has worked for several dealerships. He has plenty of knowledge for me to use and some contacts. That being said my hands are tied right now bc I don't have very much financial support of even my own money. I was looking into a line of credit, or floorplan through Wellsfargo (line-of-credit), AFC, MAFS, DSC. The problem with that is that I dont know what all the stipulations are and what requirements I must meet to be approved.


Can someone help fill me in that has experience with floorplans and lines of credit? I'm young and I dont have any collateral to give up or money of my own to put out.

I have read one thread who said AFC is probably the easiest to get approved for but there are a few more fee's with them, but must i be in busines for a length of time before they even consider giving me some type of floorplan? I'm a brand new dealer and need help getting on my feet.


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