Capital One exits floorplan lending business

[hegemony]

 

 

Capital One exits floorplan lending business (pay wall)

 

here is some not pay walled discussion: https://www.theautopian.com/capital-one-floor-plan-financing/

 

[MarvBear]

I've never known of a dealership who used Capital One for floorplanning.  That will probably leave a few dealers scrambling for a different floorplan line of credit.

[CreditSucksNot]

2 hours ago, MarvBear said:

I've never known of a dealership who used Capital One for floorplanning.  That will probably leave a few dealers scrambling for a different floorplan line of credit.

 

It isn't just Cap1 leaving floorplanning.  I saw this article on a different site  yesterday and it said ALLY has also left floorplanning.  It has left quite a few dealerships scrambling for a different line of credit.  

[MarvBear]

Yep,  Ally used to be GMAC.  That will definitely sting some dealers.