Dealer Floor Plan Default. The DFP Pilot gives SBA the ability to issue 7a loan guaranties to revolving lines of credit made by qualified participating lenders. A dealership sells a vehicle but doesnt report the sale right away or pay off the corresponding floorplan debt immediately as required.
Dealer Floor Plan Line Repossessed - Cars Sold but No Credit Given Back to Dealer. Floor plan lenders want to see what a dealers credit history is like. It is a plan to finance the vehicles on your floor.
Once your application is submitted and accepted its time to start using your car dealership floor plan.
Ranging from making payments on your floor plan to researching vehicles get your answers here. If how to manage a dealer floor plan leaves you with more questions than answers our tutorials have you covered. With AuctionCredit you can purchase inventory from over 800 auctions in-lane or online through trade-ins and dealer-to-dealer transactions. You may obtain a dealer floor plan from a bank or there are many dealer floor plan providers listed by clicking here.