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Three Reasons to Floorplan

Published November 2020

Three Reasons to Floorplan

Though we’re all glad to see 2020 coming to an end, there have been some good things to come out of all the turmoil this year. I think we all realize more than ever that it’s the people in our lives who matter most. Family and friends come to mind first, but it’s also employees, business partners and others we rely on to keep our homes, our businesses and our communities running smoothly.

I’m thankful to be part of an organization that was proactive about providing meaningful support for both dealers and customers this year. In fact, GM Financial was the first in Canada to provide relief to floorplan dealerships back in March.

Many of you took advantage of those deferrals so you could focus on keeping your employees safe and your businesses running. (Read about Amherstburg Chevrolet's story.)

If you are not currently floorplanning with GM Financial, I would love to hear what you like about your current provider and what you would want to change if you could. It’s a commitment of mine and my team to listen to you and really hear you.

Here are a few things I like to share with dealers about what you get with GM Financial:

  • When you floorplan with GM Financial, you are supporting yourself through the long-term investment in the GM Corporation. Since we are exclusively in the auto finance business, your success is our success.
  • In addition to the support of your DRM, you also have access to a focused, dedicated team of commercial lending experts. We take pride in the fact that we know our dealers and go the extra mile to help you in any way we can.
  • You get reduced fees on pre-owned vehicles. Now is a great time to focus on your used vehicle department. Floorplan dealers take advantage of up to 30 days’ interest free when you purchase a vehicle on GMF DealerSource®. Floorplan dealers also get reduced buy fees on Off-Lease purchases and reduced fees at physical auction.

Let’s hope for a healthy, safe and prosperous 2021. But let’s continue our focus on relationships and putting people first. I hope you’ll reach out to your local DRM or the GM Financial commercial team to see if we can provide solutions you need.

Vince Woffenden
Vice President Commercial Lending Services
GM Financial Canada