The Benefits of Partnering with a Dealership Floor Planning Company
For those who are in the business of buying and selling vehicles, having access to dealership floor planning is a crucial need to grow and succeed. Dealer floor planning provides you with a line of credit to purchase the inventory you need, without having to use your own capital. But managing inventory is a difficult task, and things can get chaotic if you don’t have the support you need. This is where partnering with a dealership floor planning company comes in.
In this post, we’ll explore the benefits of partnering with a dealership floor planning company, and how it can help you streamline your dealership operations, strengthen your cash flow, and ultimately drive your business forward.
Gain Access to More Credit
One of the most significant benefits of partnering with a dealership floorplan company is the availability of more credit. You’ll no longer be solely reliant on your bank’s line of credit, nor will you need to use your own capital to purchase inventory. By partnering with a floor planning company, you’ll gain access to larger credit lines, which can give you more flexibility in the types of inventory you buy and the volume you purchase.
Simplify Your Inventory Management
Inventory management is one of the most daunting tasks for dealers. Keeping track of the stock, making sure the condition of the cars is top-notch, and juggling different types of vehicles can be overwhelming. A floor planning company can help you manage your inventory by providing a system that tracks the vehicles you have in stock, the loan balances, and the additional information you need to keep everything in order.
Save Time and Money
With a floor planning company, dealers can spend more time on what they do best: selling vehicles. A reliable floor planning company handles document verification, titles, and other legalities that usually take up a considerable amount of time and resources. By outsourcing these tasks, you can focus on growing your business, making more sales, and servicing customers.
Improve Your Cash Flow
Having a stable cash flow is crucial for any business, and this is especially true in the automotive industry. Partnering with a floor planning company can be an excellent way to manage your cash flow efficiently. With a revolving credit line, dealers can purchase inventory as needed, and then pay it off when vehicles are sold.
Offer More Financing Options for Your Customers
Partnering with a dealership floor planning company can also give you access to different financing options for your customers. Dealerships can offer auto loans, financing, or leasing options that help customers get the vehicles they need with manageable payments. With floor planning support, dealers can offer more financing options than they would with a traditional loan.
Partnering with a dealership floor planning company is an excellent way to elevate your dealership’s operations and accelerate growth. By doing so, you’ll gain access to more credit, which allows for more flexibility in the types and volumes of inventory you purchase.
A floor planning company can simplify inventory management, save time and money, and improve your cash flow. With access to more financing options, you can also offer better financing deals to your customers. Ultimately, a floor planning company helps you grow your dealership business and succeed in the competitive automotive industry.