Frequently Asked Questions

We deal straight. Here you can quickly find the answers to the frequently asked questions about our company and services.

• What if I just started my business?

  We have provided floorplan lines to start-up dealerships with dealers that have had previous automotive experience and supporting financial information.

• Which auctions accept your floorplan?

  All America’s Auto Auctions, all Manheim auctions, all ADESA auctions and most independent auctions. Click here for the listing of approved auctions.

• Who do I call for any other questions?

  Please contact us at our toll free number 1-844-floorac and we will be happy to answer any questions you may have or direct you to the closest AuctionCredit location.

• What are your floorplan programs?

  See the Financing Programs section of our website.

• Which units are not included in the floorplan agreement?

  Salvage (branded titles), kit cars, boats, RV’s, trailers, heavy-duty trucks and units over 40k are not included in the floorplan agreement.

• What amount of floorplan line do you normally approve?

  We have floorplan lines ranging from $25,000 up to $5,000,000.

• Is there a maximum floor $/vehicle?

  The Maximum floor per unit is $40,000.00. Approval is required for any unit over this amount.

• What is the cost to apply?

  There is no cost to apply.

• Which documents do I need to get approved?

  For a line under $150,000, we require last 3 months bank statements, your dealer and driver’s license and your personal financial statement. For a line over $150,000, please also include last two years’ personal/business tax returns.

• How long does it take to know if I have been approved?

  Once all the information is submitted, a credit decision takes only a few days.

• How easy is it to get approved?

  We approve a high percentage of applicants. Approval is based on several factors about your dealership; some key areas include personal credit scores, number of years in business, references and your dealership debts in relation to your assets.

• How do I floor a unit with AuctionCredit?

  To initially set up the auctions that you purchase from, please notify your branch location and they will have your credit availability sent to the auction of your choice.

  When you purchase at any of the approved locations. The auction will have your credit availability at the counter ready for you to floor.

• Can I purchase a vehicle outside of the auction and floor it with AuctionCredit?

  Yes, we also floor units that are purchased outside of the auction. We can floor up to 100% of the purchase or Black Book Value.

• Where are my titles?

  Wherever you buy within the continental USA, all titles that are floored with AuctionCredit will go to your branch location. We have a team at each branch location that are available for you.

• Is there a title release fee?

  AuctionCredit does not charge a title release fee.

• Are there lot audits?

  Inspections are randomly conducted on a monthly basis. We will have an AuctionCredit representative or QuikTrack at your dealership to inspect units that are on the Floorplan line.

• Can I manage my account online?

  We have a dealer portal available to our AuctionCredit customers that can manage their portfolio 24/7. Our easy access platform lets you quickly check your credit availability, pay-off/curtailments, and units on floorplan line.