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Comment by mark s polchlopek on September 14, 2012 at 6:07pm

A floor plan almost cost me everything.  Read all the fine print on the contract to include paydowns and interest.  I negotiated my interest with them and had free reign on what I could floorplan and when.  That helped because I did a lot of wholesale too.  Cash flow can fo out the door quickly. Proceed very carefully or they will own you.

Comment by Kevin Bost on July 27, 2012 at 5:07pm

Craig- I used to be a consultant for several small dealerships, and now I work for AFC. AFC has several different types of floor plan options available. Everything from $25k to Million plus. You can use your AFC floorplan at all teh major auctions, and also online. You can got to afcdealer.com to apply. If you will message me where you are located I can have your area sales manager even give you a call to answer any questions you might have. Very easy to apply, and a ton of different options that will fit any size dealership. Hope this helps.

Comment by Tim on July 26, 2012 at 8:22pm

I do not have a finance company to recommend, but I do have a credit restoration to offer to your dealership to handle those bad credit clients. We have a program set up for car dealers, motorcycle dealers. etc. and it does not cost you anything to use. The idea is to say I know of a credit restoration company that may be able to help improve your credit situation. Would you be interested in talking to them to learn more? If they say 'yes' then you get basic contact info and enter in our website and we take it from there. If they like what they hear then they enroll and you and the client can check their progress 24/7 from our website. The average time for a client to complete our program is 2 to 3 months and then they can go back get that car loan and everybody wins.

 

E-mail me for more info; timh@reviveyourscore.com

Comment by Rob Hagen on July 26, 2012 at 6:32pm

Went to answer this and AFC showed up for our monthly audit! lol

 

We opened in December our first location and our second this month and have three different floorplans: DSC, AFC and Carbucks. Each have their pro's and con's but for the most part, very easy to work with. Carbucks is designed to appeal to wholesalers because they offer a flat $35 fee if you turn your cars within 10 days. If you go past 10 days, feess are equivalent to other companies.

 

Hope this helps.

Comment by Stuart on July 26, 2012 at 4:15pm

I too am a small dealer, Call DSC they are the best floorplan company I have dealt with so far.

Very easy to work with and good customer service... so far... I have been with them for over 2 years now.

They might want you to start out with a lower credit limit of say 50k, but if you remain in good standing with them and use the line, you can request for an increase in just a few months.

The only bad thing about them is they were recently bought out by Manheim which scares me, but so far there have been no changes in the services.

Hope this helps

Comment by craig becton on July 26, 2012 at 3:28pm

Thanks DAN