Floor plans for wholesale inventory have always been a factor for independent dealers. Why are you using who you are using and are you happy with them?

Tags: car, dealer, dealers, floor, for, independent, plan, planning, plans, used

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We use both MAFS and DSC, I like DSC of the two better. slightly high upfront fee but only 5% reduction at 60 and 90 days. payoff in 120 days.
MAFS (seldom used) and Wells Fargo, Wells is pretty easy to work with, payoff at 180 days........Greg who do you see being some of the more competetive floorplanners for independents in the future??
Brock, that is the $1M question! Right now 'competitive' and 'floor planners" don't seem to mix - especially for independents. It seems to take a great personal relationship with a smaller local or regional bank, and that doesn't happen often. How are things with Wells? 180 day payoffs at Wells would seem to work well.
TD bank north is now trying to get it's feet wet in the floor planning. They are tougher to get than DSC but seem to have a better fee structure for most store.
Michael,
Do you have any contact information you can share on TD Bank North?
GG
We're currently using DSC and AFC. Both got really tough a few months ago when a few dealers around here (B'ham,AL) really pulled some shenanigans.

I didn't get an AFC audit straightened up within 48 hours and they locked us for a month, and cut our limit in half.
While I vehemently objected to the cutback, privately I really didn't mind.
It caused me to work harder at reducing my inventory turn time.

DSC has loosened up some, and actually raised our limit slightly. I prefer DSC over AFC.
Their fees are lower, but they will not stop interest on a car if you pay it off before they get the title.
That's about my only gripe with them.

On this subject - does anyone know of any bank that is actually doing SBA guaranteed floor-planning?
The program is out there, but I haven't found a bank that will actually participate.
I USE CAR -BUCKS VERY SAMPLE TO COUNT YOUR COST . EASY TO WORK WITH KNOWES BOTH SIDES OF THE BUSSINESS CALL THEIR PHONE #864-234-9696 ASK FOR JERRY
Does any one know what Bank of New England does for Indy dealers?

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