Dealer Floor Planning Software

dealer floor planning software

Most dealers do not have the capital to fully own all the inventory in their car lots. Most manufacturers have a financing arm that helps with financing for dealers. Likewise, most auction organizers provide financing options at the premises. When dealers finance their purchases it is typically a short term loan that should be paid as soon as the vehicle is sold. Terms may be such that if it is not sold within x days, part of the payment is required. Typically in 90 days if the vehicle is not sold, full payment is required. These inventory loans are known as dealer floor plans or floor planning for short.

Most dealers use a single floorplan lender and open an account with them. This is very convenient. It is easier to deal with a single lender and you know when you should be paying. Having multiple lenders, dealing with multiple lenders may save some money but it is more difficult to calculate the payment times and amounts. Carsinia can report on these vehicles and tell you when their payments are due. In the profit calculations, the floor plan fees are included as costs.

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