At AFC, we understand that no two dealerships are exactly alike–you have unique goals, inventory strategies, cash flow dynamics, and sales cycles. So why settle for a one-size-fits-all floorplan solution? Daily Tab is a different kind of floorplan financing from AFC, offering a low-cost cash substitute for independent dealers.
Whether you’re tired of paying for your inventory with cash, in need of short-term financing for fast-selling units, or simply someone who wants more control over their financing, Daily Tab is your floorplan, your way.
What is AFC’s Daily Tab?
AFC’s Daily Tab is designed to be a simple, flexible, and convenient alternative to traditional fixed-term floorplans. With Daily Tab, you pay a flat daily fee* only for the days your vehicles are on the floorplan. So whether that’s in one day, one week or one month—you’re only paying for what you need, freeing up cash while keeping costs low.
It’s an easy way to manage your cash flow without the complexity of traditional floorplans, giving you the freedom to keep your money available for other parts of your business.
How does Daily Tab work?
The Daily Tab uses simple math to ensure your daily fee is easy to calculate. The daily fee is based on floored amount of the unit. It’s also inclusive of standard fees**–such as document processing fees, floorplan fees and interest–and starts as low as $3 per day, as shown in the table below.
Daily Fee Schedule
| Floored Amount | Daily Fee |
|---|---|
| <$5,000 | $3.00 |
| $5,001-$10,000 | $5.00 |
| $10,001-$15,000 | $8.00 |
| >$15,000 | $10.00 |
With Daily Tab, you have 45 days to sell your unit. If you need more time, you can curtail the floorplan once, extending the term to 90 days. Curtailment fees apply, but the process is straightforward and transparent. The curtailment fee is 1% of the floored amount.
>>>Need to brush up on curtailments? Read What is a Curtailment now on the AFC Insights blog!
Let’s use the above example of how Daily Tab’s simple and transparent fee structure would work for a unit floored for $5,000.
What are the benefits of Daily Tab?
At AFC, we believe that your floorplan should be the one that works best for your dealership. For dealers who are new to floor plan financing, a dealer floorplan can seem daunting. But it doesn’t have to be. AFC’s Daily Tab program is your gateway to floorplan financing, offering benefits such as:
- Flexible Financing Tailored to Your Need. With a flat daily fee structure starting at just $3 per day, dealers can floor vehicles for any duration, from a single day to several weeks, depending on their sales cycle and inventory turnover.
- Transparent and Easy-to-Understand Pricing. Daily Tab features a straightforward daily fee that includes all necessary costs, such as floorplan fees, interest, and document processing.
- Optimized for Fast-Turnover Inventory. For dealers operating in fast-moving markets, Daily Tab is an ideal solution. It supports short-term financing, making it perfect for low-value inventory or high-value units with quick sales cycles
- Streamlined Auction Purchases. Daily Tab offers significant advantages for dealers who frequently purchase at auctions. By consolidating auction purchases into a single payment source, Daily Tab simplifies the checkout process and enhances operational efficiency, allowing you to focus on selling more cars.
When is Daily Tab the right floorplan financing option for you?
As a low-cost substitute for independent dealers, there are a number of scenarios where Daily Tab could be a game-changer. Let’s take a look at a few.
You’re a dealer who primarily pays for inventory with cash.
Tired of watching profitable deals slip through your fingers because your cash is tied up in inventory? With Daily Tab, you can seize those opportunities, all while maintaining your healthy cash flow for marketing, reconditioning, and unexpected expenses. It’s the floorplan designed with cash buyers in mind.
Your dealership has fast inventory turns.
If your cars fly off the lot in days, why pay for weeks of floorplan financing? Pay only for the days you actually use the financing, keeping more of your hard-earned money in your pocket. Daily Tab is the flexible, pay-as-you-go option that perfectly aligns with your fast-paced business.
You’re a dealer typically purchasing low-value inventory.
For dealers with lower-cost inventory, traditional floorplans may not be the best fit. That’s why AFC’s Daily Tab offers a cost-effective alternative, with low daily fees that won’t cut into your margins. Get the financing you need to buy more cars, regardless of their value, and watch your business thrive without breaking the bank.
You’re a dealer who wants to expand your buying power.
Daily Tab unlocks your buying power, giving you the freedom to stock up on in-demand inventory, take advantage of bulk deals, and accelerate your growth. It’s time to break through your financial ceiling and reach your full potential.
Get started with Daily Tab today!
If you’ve never considered financing vehicle purchases before but you’re tired of the cash flow crunch, Daily Tab could be just what your independent auto dealership is looking for. Stash your cash and check out at the auction faster when you put purchases on your Daily Tab.
Click here now to learn more about Daily Tab from AFC!
*Daily fees are cumulative and amounts are subject to change without notice.
**All other service and punitive charges and fees will be charged as applicable.
* Disclaimer: Descriptions of AFC floorplans are for illustrative purposes only. Terms of AFC floorplan financing are subject to a final written agreement acceptable with AFC. AFC does not guarantee any results for floorplan financing and examples are for illustrative purposes only. Dealers should consult their own advisors to make independent business decisions regarding floorplan financing.
