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floorplan financing

NextGear Offers Expedited Funding Process

NextGear Capital has introduced ‘Rapid Pay,’ a new feature designed to help dealers initiate the vehicle funding process before the title is received.

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TD Auto Finance Commercial Services Announces National Expansion

The business unit began offering commercial loan products in June 2011, primarily in the East Coast. It had since expanded into the Midwest prior to today’s announcement.

NextGear Enhances Account Management Platform

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.

Examining NMAC v. Superior Automotive Group

Legal eagles deconstruct the case that changed how courts handle contract disputes between dealers and their floorplan lenders.

AFC Enhances Dealer Portal With Inventory Dashboard Tool

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.

Former Dealer Awarded $256 Million in Case Against Nissan Captive

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.

Ally Financial Increasing Carvana's Floorplan Credit Line

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.

J.D. Power: Dealers Willing to Pay for Better Lender Services

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.

NADA University Announces Legal, Regulatory Webinars

NADA University announced it is now offering all of its legal and regulatory webinars — live and on-demand — at no cost to NADA and American Truck Dealer members and their staffs.

GM, Wells Fargo Launch Auto Finance Partnership

General Motors Co. and Wells Fargo & Co. announced a long-term partnership to offer financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in GM’s West marketing region.