Howard Drake, dealer principal of Casa de Cadillac in Sherman Oaks, California, made the decision to floorplan with GM Financial in 2017. His store has challenges unique to California, L.A. and even Cadillac. It was when GM Financial proved that we really understood his business and customers and their needs that he made the choice to go all in. And, like a true entrepreneur, he says that dealers need to go through the process to see for themselves if it’s the right move for them.
More than rate
For Howard, it came down to really seeing additional benefits beyond rate that impacted his store’s profitability.
“There’s a whole host of things that circle around rate that can have a material impact on profitability. Those things add a lot of value,” he says. “There are things I would sacrifice rate for in terms of terms and conditions. Those things were all important when we eventually made the decision to go all in.”
Close more deals
Building a strong relationship with GM Financial means more opportunities to close deals, especially those marginal deals that take a little more time and effort.
“As you get to know each other better, you start making deals you wouldn’t have made before you really got to know each other. Those deals can be the difference between an average month and a good month or a good month and a great month,” Howard says.
To learn more about how you can benefit from going all in, contact your GM Financial rep.
Episode 14: Consistent Support
For Christy Gilleland, dealer principal of Gilleland Chevrolet in St. Cloud, Minnesota, and member of the Chevrolet National Dealer Council, making decisions about floorplan really came down to trust.