Floor Plan Interest
Definition for new zealand automotive professionals.
Floor plan interest is the financing cost a dealership pays on its vehicle inventory. The floor plan lender (bank or captive finance company) finances the purchase of inventory, and the dealer pays interest on each unit until it is sold and the loan is paid off.
New Zealand Context
In the new zealand dealer market, floor plan interest operates within the context of Consumer Guarantees Act (CGA) and Fair Trading Act. Dealerships running Pentana, Titan DMS, Autobase encounter floor plan interest in their daily workflow. DealerInt captures the decision layer around floor plan interest that your DMS wasn't designed to track.
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