When it comes to running a successful car dealership, having access to financing is essential. However, securing a loan from a traditional lender can be a daunting task, especially for those new to the industry or those with less-than-stellar credit. Enter dealership floor planning companies. These businesses provide floor plan financing to car dealerships, enabling them to secure the inventory they need to operate. In this post, we’ll explore the key services provided by dealership floor planning companies and how they can benefit your dealership.
Table of Contents
Flexible Financing Options
One of the primary advantages of working with a dealership floor planning company like kinetic advantage is the flexible financing options they provide. Unlike traditional lenders, floor planning companies understand the unique needs of car dealerships and offer financing tailored to those needs. This often includes adjustable rates, customizable terms, and the ability to finance both new and used inventory.
Streamlined Application Process
Another advantage is the streamlined application process. Unlike traditional lenders, dealership floor planning companies don’t require a lengthy and detailed application process. In most cases, the process is as simple as submitting basic information, such as your current inventory and projected sales volume. This makes it much easier to secure financing with minimal effort on your part.
Vehicle Acquisitions
Another key service provided by dealership floor planning companies is assistance with acquiring new inventory. They work with dealerships to determine the specific types of vehicles they need and provide guidance on making smart purchasing decisions. When it comes time to acquire inventory, floor planning companies can help secure financing quickly and efficiently.
Online Account Management
Managing inventory and financing can be a time-consuming task. Floor planning companies streamline this process by providing online account management tools that allow dealerships to manage their inventory and financing in one place. This allows dealerships to track inventory levels, make payments, and access account information whenever necessary.
Inventory Checks and Audits
Maintaining accurate inventory records is crucial to running a successful dealership. However, keeping track of inventory can be challenging, especially as new vehicles are added to the lot. That’s why many floor planning companies offer regular inventory checks and audits to ensure that inventory records are accurate and up-to-date.
Training and Education
Another key service provided by floor planning companies is training and education. They provide dealerships with resources and guidance on best practices for financing and inventory management. This support can be invaluable for those new to the industry or those looking to improve their dealership’s financial performance.
Floor planning companies can be a valuable tool for car dealerships looking to secure financing and acquire inventory. The key services they provide, such as flexible financing options, online account management, and inventory checks, can help streamline dealership operations and improve financial performance. If you’re considering working with a dealership floor planning company, be sure to do your research and choose a reputable provider. With the right partner, you can take your dealership to the next level.
