Car Dealers SCREWED Buyers, Now They’re GOING OUT OF BUSINESS

Car Dealers SCREWED Buyers, Now They’re GOING OUT OF BUSINESS

Auto Finance News Article:
⮕ https://www.autofinancenews.net/allposts/earnings/penske-auto-floorplan-interest-expense-jumps-242-yoy/

🚗 Get some FREE car-buying knowledge with our guides:
⮕ https://caredge.com/guides

🚗 Join the CarEdge Community:
⮕ https://caredge.com/community

🚗 Get educated on buying a car with CarEdge’s Deal School 3.0:
⮕ https://caredge.com/dealschool

CarEdge Podcast: Daily News You Can Use
⮕ Spotify: https://open.spotify.com/show/5Mv58R6yJJnEDHZ5Zuy2SZ?si=33c98bb5bdf847a2&nd=1
⮕ Apple: https://podcasts.apple.com/us/podcast/daily-news-you-can-use-from-yaa/id1521589583

Instagram ⮕ https://www.instagram.com/mycaredge
TikTok ⮕ https://www.tiktok.com/@zachshefska

Check out CarEdge merch:
⮕ https://shop.caredge.com/

For years, dealers have used floorplans to finance the vehicles on their lots. This used to be a cost center, incentivizing dealers to sell their cars at a steady clip. During COVID, when inventories fell off a cliff, floorplans became a PROFIT center, making the public dealership groups millions. Now, Ray and Zach examine a turning point: as inventories rise and interest rates skyrocket, floorplan costs are increasing once again. Will this force dealers to lower prices and turn their inventory faster?

Automotive