Automotive Finance Corp. (AFC), a division of KAR Auction Services Inc., announced Monday (April 23) it has expanded its inventory finance product offerings to include more options for its recreational vehicle dealers.
A key feature of AFC’s RV inventory financing includes no restrictions on the type of RV unit a dealer can purchase — no make, model or year constraints.
“Many providers only finance a dealer’s new RV inventory,” said Neill Waters, director of business development for Carmel, Ind.-based AFC, “and we consequently saw many RV dealers seeking financing that better met their used RV purchasing needs.”
As part of the program, AFC will advance 100% of an RV dealer’s auction purchases at more than 1000 AFC-approved auctions. AFC’s financing also gives RV customers the flexibility to finance trades. With AFC’s RV financing, dealers have an extended period of time to pay-off their units on floorplan for used inventory purchased from auction or taken in on trade. AFC’s RV financing applies to used motorhomes, travel trailers, fifth-wheels and other towable units.
“Our RV inventory financing program was developed based on the feedback we received from our current RV customers. It’s now available throughout North America, both the US and Canada,” Waters added.
According to a news release, the RV program — one of several initiatives being rolled out in celebration of AFC’s 25th anniversary — is consistent with AFC’s strategy to find new and better ways to service its dealer customers, and enable them to operate more profitably. Earlier this year, AFC unveiled its new website, www.AFCDealer.com, that features online floorplanning capability, and the company’s “Free Flooring for A Year!” sweepstakes where one lucky AFC dealer won a year of interest- and fee-free floorplanning.