When it comes to selling cars, we understand that cash moves fast for our dealers and we’re constantly improving the floorplanning experience. Part of that is keeping dealers informed of the ins and outs of our financial solutions.
We’ve shared our Title Management Program, but now we’d like to take some time to explain our Fast Fund Program and how it can benefit our dealer partners!
First, what is the Fast Fund Program?
The Fast Fund Program is a financial solution that allows dealers to get funded for trade-ins, off-street purchases, dealer-to-dealer purchases, dealer-owned inventory, and non-approved auction purchases. The steps to floor a fast fund unit are simple and straightforward.
The program was created to help put cash back in our dealers’ pockets and help their overall cash flow. We’re proud to offer Fast Funding to our dealers, and we know that it is a relatively unique feature in the floorplan industry.
At Kinetic, we don’t view the program as a risk like some floorplan companies, but instead as an opportunity to show our dealers that we trust them and want to foster a relationship with them. After all, this is a partnership!
This trust includes offering programs that others may not and helping our dealers utilize these programs to their best advantage.
It’s important that dealers know about our financial solutions, and how to optimize them. Dealers can optimize the Fast Fund Program by making sure to follow these tips:
– If a dealer buys a car that they want to finance, they should floor it today and overnight the title as quickly as possible.
– Take note that there are limits to title exposure, which governs the total amount (in dollars) worth of titles that dealers can have at any one point in time.
– Dealers should make sure that all documents are in order and signed/dated correctly. This extra step helps to ensure there are no funding delays.
There are some beneficial features available with the program as well! For example, did you know that for a small fee, dealers can request a wire to get their funds the same day? We can also pay the third-party dealer directly so that the initial dealer can keep their cash in the bank.
The bottom line: we get our dealers the funds they need, fast!
We are waiting and ready to help our dealers succeed with the help of our Fast Fund Program! Contact us today to find out if you’re eligible for the Fast Fund Program.
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