Deal Pack Blog
BHPH: How Floor Planning Can Benefit You
Consumers will purchase if they find what they are looking for. It seems simple enough, right? If I need to purchase groceries for the week, I’m driving right past the local corner store and heading straight to the super center, because I KNOW they will have exactly what I want. In my personal experience, the same applies to purchasing a used car. Be it groceries, or a car, shoppers like to have options when making a purchase, and in the used car industry, the best way to give your customer options is by adding more cars to the lot. More options means a better chance a shopper will find what they’re looking for, purchase, tell their friends, and come back for more.
“That’s all well and good, but I don’t have the funds to go out and purchase additional cars for my lot. So now what? ” My suggestion is to take a look into Floor Plan Financing. To put it simply, floor plan financing is a way for an auto dealer to use a lender’s funds to finance the cars on their lots.
So you’ve identified inventory as a problem. You’ve research floor plan financing. You’ve decided to use floor plan financing to offer a wider variety of inventory on to your lot. Everything makes sense, books closed, right? The equation does not end there. While using floor plan financing , it is equally important to have a Dealer Management System (DMS) that can accurately keep track of your floored vehicles. That is where ABCoA comes in.
In Deal Pack, flooring a vehicle is quick and easy. Additionally, Deal Pack offers floor plan reports to help you manage your floored vehicles effectively. Floor plan financing may not be the answer for every dealership, but if increasing inventory is a regular meeting topic, take a look into floor plan financing, and know that Deal Pack is the DMS that will handle it for you!