Floor Plan

A line of credit provided to dealers by a lender specifically for purchasing vehicle inventory at auction.

Definition

A line of credit provided to dealers by a lender specifically for purchasing vehicle inventory at auction.

Related Terms

Dealer License

A state-issued license required to buy and sell vehicles commercially. Required for access to dealer-only auctions like Manheim and ADESA.

Wholesale

The price at which vehicles are sold between dealers, typically at auction. Wholesale prices are lower than retail prices.

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