Dealer floor plan fees vary slightly depending on credit worthiness and other factors. Supplementing working cash with a floor plan is a tried and true method to grow business.
If this dealer s holding cost per day per unit is 44 63 and their turn time to sell a car is 60 days they will spend 2677 of their profit holding on.
Nextgear floor plan rates. Floor plan your inventory for proper cash flow automotive digest floor plan dealership transportation costs nextgear capital tiered pricing nextgear capital nextgear capital competitors revenue and employees owler nextgear floorplan master owner trust series 2018 1. That s why we created tiered pricing. An independent dealer using floor plan financing can increase their buying power.
Find out how nextgear capital dealers are tackling the challenges of today s market head on by properly utilizing their lines of credit. Floor plan finance options are popular within the automotive industry. Let s say a dealer makes a profit of 3000 per car sold.
Nextgear floorplan master owner trust series 2019 2 deal v1 1 compared to dealer floorplan and other revolving commercial asset v3 0. Moody s investors service 03 oct 2019 pre sale report nextgear floorplan master owner trust series 2019 2. However not all inventory finance companies offer retail and dealership wholesale financing options.
Nextgear floor plan fees. However not all inventory finance companies offer retail and wholesale options. This is a unique feature that bases floor plan fees on purchase price not fixed or promotional terms.
Nextgear floor plan. Whats people lookup in this blog. Our comprehensive lending solutions have something for every dealer regardless of size or location.
Nextgear capital is offering you more ways to save than ever before with our tiered pricing program. Pre sale nextgear issues second auto dealer floorplan transaction of 2019. At nextgear capital we offer a wide range of dealer floor planning options that support nearly any remarketed purchases.
While some lenders are unable to properly serve independent dealers nextgear capital has proudly served the independent dealer market for over ten years our floor plan financing options allow dealers to finance nearly any. For example this fee is around 85 per unit for the first 60 days for some of our dealers. Dealer floor planning offers many benefits.
If you do not sell the floor planned unit in the first term there will be an additional floor planning fee for each additional term. No two dealerships are exactly alike and their dealer floor plan rates shouldn t be either. In some cases lenders are unable to offer a floor plan financing solution that fits the needs of today s independent dealer.
Floor plan finance options are commonly used within the automotive industry at both new and used dealerships. These floor plan finance formulas incorporated with a dealer s turn time can help to make or break a dealership s profitability. Competitive rates flexible lines of credit innovative technology superior customer service.
With tiered pricing floor plan fees are based on a vehicle s purchase price which means our clients aren t paying the same flooring costs for a 2 000 unit as they would for a 12 000 unit.