Using Floorplan to Maximize Cash Flow
Using Floorplan to do MORE for your dealership
With a floorplan line of credit, automotive dealers are able to better prepare for anything that requires working capital. Whether it be growth, expansion, hiring, mechanical repairs, or anything else that may require you to dip into your pockets, funding your inventory can help you.
The automotive industry is full of surprises. Having an open revolving line of credit can help combat the unexpected. If you have cash bought inventory, you can get send them in for funding and open up that cash flow again. Funding your auction purchases allows you to floorplan 100% of the purchase price (within 45 days of purchase) without having to pay anything out of your own pocket for the first 90 days per unit. Auto Use is an acceptable form of payment at most auctions nationwide and online. You can also finance your transportation and PSI to really maximize the ease & benefit.
Often times, dealers find themselves tying up a their money by buying or taking in trades that have a loan payoff. Usually, this requires a lengthy process of getting in touch with the bank, getting payment to them, and following up with the bank in order to get the title in your hands. Our lien payoff program allows dealers to use their floorplan line instead of their own money, to free up the funds so you can get the car ready for retail or wholesale right away. In addition, we follow up with the bank and handle the whole process to be sure the title is secured in a timely fashion.
Auto Use also offers a unique method of funding that allows you to buy anywhere else, by providing a floorplan checkbook. Buy from anyone, anywhere, anytime! This gives dealers the ultimate buying power to be sure that inventory is the last thing that is effecting your dealership’s cash flow.
Contact us to learn more or speak to a representative on how you can apply for a credit line.
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