How does floor plan financing work for pre-owned dealerships?
Sunday, August 2nd, 2009
Jeramy asked:
I have always been curious as to how floor plan financing works for pre-owned vehicle dealerships. If a car dealer has $1M in inventory on their lot, what cash or net worth must they have available as down payment and what do they pay monthly to keep the vehicles on the lot?
I have always been curious as to how floor plan financing works for pre-owned vehicle dealerships. If a car dealer has $1M in inventory on their lot, what cash or net worth must they have available as down payment and what do they pay monthly to keep the vehicles on the lot?
Any information will be helpful. Thanks in advance.
Don
