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ROIBlogs
June 2, 2015
Summer can be a challenging time of the year for used car dealers. For many, remarketing volumes become stagnant and retail sales...
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May 27, 2015
The end of tax season also marks the end to one of the busiest times of the year in the auction business.
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September 19, 2014
I’ve discussed in recent posts how being connected to technology and being ‘mobile’ is becoming more and more of a...
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September 1, 2014
Auctions and floor plan companies have a mutually beneficial relationship. Creating and maintaining these relationships in the floor plan industry is essential for success, especially for auctions, which face numerous challenges in their day-to-day business, including but not limited to:Dealers lacking funding Slow payment Difficulties in flooring No assistance available No marketing Fewer dealers at salesFloor plan companies help auctions negate some of these challenges, as they provide a valuable service of fast, timely guaranteed payments for sold units, which allows auctions to focus on what they do best: sell cars. But there are other advantages to auctions having a solid relationship with floor plan companies.
Read MoreJune 15, 2014
In all aspects of life, we build and nurture relationships. Whether it is with our spouses, friends, or co-workers, developing a strong relationship is paramount. This holds true for dealers too, who strive to find a floor plan lender that they can trust and with whom they can have a long and prosperous business relationship.
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April 28, 2014
At the recent NABD Conference and seminar, one of the key messages communicated was the importance of providing additional and necessary training to Buy Here Pay Here (BHPH) dealers across the country due to a change in regulatory environment. For many BHPH dealers, they have taken it upon themselves to put their own money on the street when they are unable to get a consumer financed.
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February 14, 2014
By Karen Millwood, Account ExecutiveThe ever-changing auto remarketing industry has seen more changes in recent years than ever before. Today more than ever, having a floor plan partner is very important to the small business owners’ vitality. If you are looking to grow an existing business, or beginning the journey of business ownership, it is important to have a good inventory finance partner to assist in expanding or getting your new business off the ground. A floor plan can ensure you have fluid cash flow, a variety of inventory to increase your consumer base, and can make buying inventory a simpler process.Why a Floor Plan Company? There are several things you should know and take into consideration when choosing a business partner in inventory finance. An inventory finance plan, known as a “floor plan,” can increase your cash flow. A floor plan gives you the option and the freedom to use your money where it is needed most, instead of being tied up in inventory on your lot. It provides the flexibility to purchase a variety of inventory that can drive more consumers to your lot.
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