Retail floorplan
Retail floor planning is a type of short term loans used by retailers to purchase expensive inventory such as automobiles. These loans are secured by that inventory as collateral.
Floor planning is commonly used in new and used car dealerships.[1] Few dealers own the vehicles on their lots, most are floor planned by a bank or by the manufacturer such as General Motors Acceptance Corp. Floor planning costs can run into hundreds of thousands of dollars a month for a big multi-location dealer with large inventories.[2]
Dealers of recreational vehicles, boats and major appliances may also use floor planning for all or part of their inventories.
Retail floorplans are also used in the design of retail premises. These can include 2d or 3D floorplans.
[edit] References
- ^ J.D. Power and Associates | Press Pass | Press Releases
- ^ "How To Buy A New Car". Popular Mechanics (Hearst Communications). October 2001. http://www.popularmechanics.com/automotive/new_cars/1269781.html?page=4. Retrieved 2007-10-31.
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