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AFC
Automotive Finance Corporation
Floor plan Your Auction Purchases |
| Purchasing
Power at: |
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AFC
Benefits: |
- Over
200 Independent Auctions nationwide
- ADT
Auction chain
- Mannheim
Auction chain
- ADESA
Auction chain
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- Adequate
capital to support your current and future growth
- Flexibility
in granting credit
- Rapid
response to your application
- No
hidden cost associated with floor plan
- Permits
shopping for the right inventory at the
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| AFC Quick Facts |
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- ONE
PAGE - one time, application
- CREDIT
LINES available from $5,000 to $5,000,000
- TERMS
(standard) - full 30-days
CHARGES: Fee-$75 per car/per term
PAYOFFS: Due 48 hours after vehicle sale or upon maturity,
whichever is earlier
EXTENSIONS: Additional 30-days, with payment of fee, interest
and pay down of principle due upon maturity.
- MISCELLANEOUS:
Inventory is verified periodically. Funds can be used at
any AFC approved auction.
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| Application Process |
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The
following must be included with your application:
- Current
dealer license
- Copy
of current drivers license for each owner
- Copy
of company bank check
- Copy
of current insurance
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For credit lines over $100,000 we also
require:
- Last
two years tax returns on owner(s) and business
- End
of year income statements and balance sheet for business
- Current
personal financial statement
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