fbpixel

Handling Lien Payoffs when buying inventory

auto dealer floorplan financing

Running a business is all about cash flow and opportunity.

Do you know how much time and money gets tied up when you purchase a vehicle or take a trade from a customer with a lien/pay off?

 

Paying off a customer’s car is a necessary part of your business however you should be aware of how much effort and how long the process takes.

 

  1. Contacting the bank and verifying the pay-off
  2. Going to your bank and getting certified funds
  3. Mailing a check out to the lender
  4. After the lender receives the certified funds they wait at least 10 business days before they mail out a title
  5. Office staff tracking the title
  6. Once the title is received you contact your finance company to see how much they’ll floorplan it for
  7. Send all the documents to your floorplan company for approval
  8. Receive funds from your floorplan company

 

With our lien payoff program we do all the work!

 

  1. Complete a lien pay off sheet and send it to Auto Use
  2. Auto Use reaches out to bank and sends money
  3. Auto Use does all the leg work and follow up so that your title is received quickly
  4. Vehicle is already floored (rather than waiting up to 45+ days for the title to floor)
  5. Nothing due out of pocket for the first 90 days!
This program gives dealers the ability to focus their time and money on other things that require their attention without tying any of it up on trades and inventory. Smart, simple, easy!
retail financing and leasing for dealers

Related

How New Auto Dealers Can Benefit from Floorplan Financing

Why Floorplan Financing is a Game Changer for New Dealers Entering the auto dealership industry...

The Benefits of Auto Use Floorplan for Auto Dealerships

The Benefits of Auto Use Floorplan for Auto Dealerships   In the competitive world of auto...

How Floorplan Finance is Revolutionizing the Used Car Market

Floorplan and the Used Car Market In the dynamic world of automotive sales, the used car market...

Using Floorplan to Maximize Cash Flow

Using Floorplan to do MORE for your dealership   With a floorplan line of credit, automotive...

How to Improve Customer Retention in Your Auto Dealership

How to Improve Customer Retention in Your Auto Dealership   In the competitive world of auto...

Buying Smart at Dealer Auto Auctions

How to Evaluate Auction Inventory for Your Dealership   Auto auctions are a valuable source...

What is Floorplan Financing for Dealers?

What is Floorplan Financing? For many auto dealers, maintaining a dynamic and diverse vehicle...

5 Tips for Faster Inventory Turn Time at Your Dealership

5 Tips for Faster Inventory Turn Time at Your Dealership   In the fast-paced world of auto...

Dealer Floorplan Financing: The Essential Guide for Auto Dealers

Floorplan Financing Guide   As an integral part of the auto dealership landscape, Dealer...

5 Dealer Floorplanning Mistakes to Avoid

Floorplan Preparation at Your Dealership   Floorplan financing is a crucial tool for auto...

Visit our blog page for more Floorplan and Dealership news and resources.

Stay Up to Date With The Latest News & Updates

Dealer Application

Start the application process to sign up for floorplan or retail financing for your dealership.

Join Our Newsletter

Stay up to date with us! Don’t miss any promotions or any Auto Use content to help your dealership.