CLS increasing depth across U.S. through enticing enhancements
Published Mar. 2017
Right on the heels of an extraordinary 2016, GM Financial's Commercial Lending Services (CLS) is poised to continue to grow at an impressive pace. As of the end of the year, we were proud to have a total of 792 North American floorplan dealers, and that number continues to increase. Now, more than ever, floorplan dealers are reaping the rewards and benefits available to them.
"In several regions, we've already exceeded or are closing in on 20% GM floorplan penetration,” said Brian Stratton, SVP Operations, Commercial Lending Services. “Some Credit Centers are even seeing closer to 30%.
This growth can be mainly attributed to our Dealer Dividends program, our Remarketing related floorplan benefits, and our lease program enhancements. As we understand there is always room for improvement, we have kept our foot on the gas. In 2017, we are delivering enhancements in the return of each of the previously mentioned programs, including, but not limited to:
- A new 2x multiplier option when dealers use Dealer Dividends for down payment assistance or cap cost reduction on certain vehicles
- Differentiation in lease splits that coincide with increased rate markup allowance and increased lease flats for floorplan dealers
- A 100% Dealer Dividend cash-out option for floorplan dealers
- Remarketing benefits including $3,000 in buy fee credits and zero percent interest when floorplan dealers utilize GMF DealerSource for GMF off-lease purchases
- A favorable retail rate sheet for floorplan dealers
Driving your floorplan forward
Want to be in on the benefits, too? We'd love to have you.
"The value proposition we provide today is very different than what we offered 12 months ago,” Stratton said. “The benefits have never been greater, that's why GM Financial has a significantly larger pipeline of floorplan leads rolling through the door.”
This year, GM Financial expects to finish 2017 above 20% floorplan penetration on a national level. How will we get there? Enhancing and improving existing floorplan relationships, helping you understand all the benefits available to all GMF floorplan dealers, and explaining the improvements we’ve made are at the top of the list.
There's an easy way to experience the benefits of GM Financial on a trial basis. A 120-day Dealer Dividends test drive is available to all dealers who do not currently floorplan with GM Financial. Submit a fully completed floorplan application, allow us to structure a floorplan deal for you, and you'll have access to the test drive program for 120 days. To get started, contact your Dealer Account Representative or visit us at dealers.gmfinancial.com.