February 27, 2018 - Industry News
The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.
Tags: auto finance, floorplan financing, NextGear Capital, technology
August 10, 2017 - Industry News
Available on the AFCDealer website and AFC On the Go mobile app, the new offering provides dealers with instant access to current and historical account information, as well as detailed insights into vehicles floored with the finance source.
Tags: Automotive Finance Corporation, floorplan financing, inventory financing
May 25, 2017 - Industry News
An Orange County Superior Court Jury sided with a former Nissan dealer who claimed the automaker’s captive financing arm forced him out of business during the Great Recession, awarding him $121.9 million in compensatory damages and $134.6 million in punitive damages.
Tags: floorplan financing, inventory financing, Nissan Motor Acceptance Corp., Superior Automotive Group
February 9, 2016 - Industry News
Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.
Tags: Ally Financial, Carvana, credit lines, floorplan financing
July 28, 2015 - Industry News
The firm found that dealers are willing to pay a premium for high-quality service from finance providers, including dedicated underwriters and dealer-focused sales reps.
Tags: econtracting, floorplan financing, J.D. Power and Associates, Lender, underwriting and collections
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