Dealership financing – It’s hard, but not impossible, to uncover

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Abstract: The auto industry may show signs of recovery, but financing isn’t expected to return to normal anytime soon. And funding a floor plan, other operations and future capital expenditures is likely to remain a challenge. But there are steps dealers can take to convince lenders they’re a worthy risk. It’s important for a dealership to sit down with their accountant and develop a presentation that will help convince the lender of their creditworthiness. If the primary lender is unmoved, there are four additional sources of funding that might be available. A sidebar to this article lists eight questions to ask a lender about loan terms.