Floor Plan Line of Credit
Purpose?
• To provide inventory capital for the used car Industry.
What is primary benefit of this plan?
• Convenience – AFI has developed a simple, easy to understand, and efficient plan for approvals and management of inventory.
What are inventory qualifications?
• Autos up to 10 year old
• Mileage up to 120,000
• Up to 100% of NADA value
Curtailments?
• Asset Funding Inc does NOT require a curtailment.
• Each dealer has the option of paying down floor plan cost at any time to reduce cost.
What is my cost on this plan?
• A simple fee due each 30 days from the date of funding.
• A one time $50.00 acquisition fee.
How long do I have to sell the auto?
• Up to 180 days or whenever you sell the auto.
Who can I buy from?
• Approved auctions, wholesale companies or dealerships.
How much is my credit line?
• Asset Funding Inc will establish your line upon credit approval of all principals of the dealership.
What about audits?
• Yes, from time to time we will complete on site audits.
How can I increase my line of credit?
• Once a relationship is established lines of credit may be increased by simply requesting an increase.
How to get started?
• Email johnnywalker@assetfundinginc.com for application and fee schedule.