Dealers that have a floor plan don’t have to use their cash to purchase inventory. The cash that would originally be used to purchase inventory can now be put towards other expenses. This means dealers can focus those monetary resources on expanding and improving other parts of the business. For some dealers, this means hiring more help. For others, it can mean opening up a brand new location.
- Dealer counts on expanded service capabilities, fintech to boost used sales
- Dealer groups see benefits of ‘connective tissues’ between auto, sports industries
- Part II: Retail innovation key in dealer strategy
- Part I: Retail innovation key in dealer strategy
- Fintech's goal: A more seamless, streamlined car-purchase process