AutoDealer.io publishes this guide and sells dealer software, not anything in this category, so nothing of ours is ranked here. Every entry was researched from the provider's own materials and public sources, and each one is written up to the same template.
Floor plan financing is a revolving line of credit that pays for a vehicle the moment a dealer buys it, whether at auction, off the street, or as a trade-in, and the lender holds a lien on that specific car until it sells or the advance is paid off. The concept that catches first-time borrowers off guard is curtailment: most lines require a forced principal paydown, commonly a percentage of the amount still owed, once a used vehicle has sat on the lot past a set window, often somewhere between 60 and 120 days depending on the lender and vehicle type, and that paydown typically gets steeper the longer the car sits. Curtailment isn't a penalty for slow-selling stock in general, it's how a lender makes sure it isn't still financing the same car half a year later, so a dealer who prices and turns aged units ahead of the deadline rarely feels it, while a dealer who ignores the calendar can get hit with a forced payment at the worst possible time. This guide covers the national floor plan providers, the two lenders tied to the biggest wholesale auction networks, and a traditional bank option, based on what each publishes about sourcing, structure, and reach. None of them publish a standard rate sheet, so treat every strength and watch-out below as a starting point for questions to ask, not a substitute for getting the actual terms in writing.
How we picked
The criteria below were set before the list was written, and they are the only things it judges.
What it will finance
Every lender here will floor auction buys, but coverage for trade-ins, off-street purchases, and dealer-to-dealer deals varies by lender. Confirm those sources are covered before you apply, not after you've already bought the car.
Curtailment schedule
Ask exactly how many days a vehicle can sit before the first curtailment hits and how the required paydown changes if it ages further. This is the single term that most affects your real cost of carrying inventory.
Auction network reach
The two auction-affiliated lenders connect to well over a thousand and several hundred auction locations respectively, while smaller specialty lenders cover fewer lanes directly. If you buy mostly at one regional auction, confirm that specific lane accepts the lender's floor plan.
Personal guarantee terms
Personal guarantees are close to standard on new floor plan facilities for independent dealers now, even at lenders that don't advertise the requirement upfront. Ask whether a spouse or business partner also has to sign.
Advance rate range
Lenders typically advance a portion of a vehicle's value rather than 100%, and independent used-car dealers tend to land toward the lower end of what franchise stores get. A lower advance rate means more of your own cash tied up at purchase.
Published vs. quote-only pricing
None of the lenders in this guide publish a standard rate, fee schedule, or curtailment percentage online; almost everything is negotiated dealer by dealer. Get the actual rate sheet and curtailment schedule in writing before you sign.
Capabilities and pricing verified August 2026. Vendors change their products and their packaging, so check anything that decides your purchase directly with them.
Best floor plan lenders for independent dealers
Same template for every provider: what it is, three things it does well, and two things to weigh before you commit.
1.NextGear Capital
Independent dealers who buy heavily at physical and online auctions
NextGear Capital is Cox Automotive's floor plan lender, built from the merger of Dealer Services Corporation and Manheim Automotive Financial Services. It finances retail, wholesale, salvage, and specialty units bought at auction, off the street, or taken in as trade-ins, and it's headquartered in Carmel, Indiana. Its First Gear program is built specifically for dealerships open 12 months or less.
Where it is strongest
- Its floor plan is accepted at more than 1,000 in-lane and online auctions according to NextGear's own site, the widest auction acceptance of any lender in this guide.
- The First Gear program gives brand-new dealerships open 12 months or less a starter line of the greater of $50,000 or the state minimum, without the full financial paperwork usually required.
- Flex Pricing lets a dealer defer interest, advance-related fees, and principal paydowns until a unit is due for payoff or granted an extension, unusual flexibility for a lender this size.
What to weigh
- NextGear doesn't publish advance rates, curtailment day-counts, or fees anywhere on its site, so the real terms only surface after you apply and read the loan documents.
- Being part of Cox Automotive, which also owns Manheim and Dealertrack, means your floor plan lender, wholesale auction, and possibly your DMS provider can all trace back to one parent company.
Pricing: Quote-based, not published.
2.AFC (Automotive Finance Corporation)
Independent dealers buying from OPENLANE auctions or running salvage, RV, or fleet units
AFC is the floor plan arm of OPENLANE (formerly KAR Global), lending to independent dealers through more than 100 branch and digital-servicing locations across North America as of its 2025 fiscal year. It finances retail cars, salvage, powersport, RV, rental-fleet, and rideshare-fleet units sourced from more than 1,400 places, including auctions, dealer-to-dealer deals, and consumer trade-ins with lienholder payoffs. Its Principal Pass option lets a dealer roll into a new term at the curtailment date without the full paydown most lenders require.
Where it is strongest
- AFC's own site lists eligibility across more than 1,400 inventory sources, so a dealer can floor auction buys, dealer-to-dealer trades, and consumer trade-ins (including payoffs to the prior lienholder) on one line.
- Its Principal Pass program lets a dealer curtail into a new term without making the full principal paydown most competitors require at that point, according to AFC's own glossary.
- OPENLANE's fiscal 2025 annual report puts AFC's network at more than 100 branch and digital-servicing locations across North America, a real physical footprint most competitors in this guide don't disclose.
What to weigh
- AFC doesn't publish advance rates, curtailment day-counts, or fees online, the same gap found at most lenders in this guide, so the real cost only becomes clear during underwriting.
- AFC's own site markets heavily to salvage, powersport, RV, rental-fleet, and rideshare-fleet dealers alongside retail used-car lots, so a straightforward retail lot is one customer segment among several rather than the sole focus.
Pricing: Quote-based, not published.
- Westlake Flooring Services3.
Westlake Flooring Services
Independent dealers who want a large, established lender and 100% auction financing
Westlake Flooring Services is the floor plan division of Westlake Technology Holdings, the Los Angeles based group behind Westlake Financial's subprime retail lending business. Per its own February 2025 announcement, it advances up to 100% of an auction purchase price, including transportation fees, and offers net funding with lender-fee discounts through its auction partners. Westlake has periodically run promotional introductory rates for new dealers signing up for a line.
Where it is strongest
- Westlake advances 100% of the purchase price on auction buys, including transportation fees, per the company's own February 2025 announcement, so a dealer isn't fronting transport costs separately.
- It's backed by Westlake Technology Holdings, the same group behind Westlake Financial's national subprime retail lending business, giving the flooring arm a large, established parent rather than a standalone startup.
- Westlake has run limited-time 0% introductory rate offers for new dealers opening a line, a pricing lever most competitors in this guide don't advertise publicly.
What to weigh
- Westlake doesn't publish its standard curtailment schedule, advance rate, or ongoing (non-promotional) rate on its own site, so the real structure of the line only becomes clear after you apply.
- The 0% rate we found was an explicitly time-limited offer for new dealers announced in February 2025; it's not evidence of Westlake's current 2026 rate, so confirm what's actually in effect before signing.
Pricing: Not published on an ongoing basis. Westlake announced a limited-time 0% introductory rate for new dealers starting February 2025 (BusinessWire, dated February 3, 2025); confirm the current rate directly.
4.Floorplan Xpress
Owner-operator independent lots that want a lender focused only on floor plan
Floorplan Xpress is a privately held, family-owned floor plan lender built specifically for independent, owner-operator used-car dealers rather than large groups or franchise stores. Its roots trace to Great American Acceptance Company, founded in Kansas City in 1974; the current ownership team acquired the business in 2006 and has grown it into a coast-to-coast lender serving dealers from Washington to Florida. It structures its approach around dealer size, from 5-15 unit startups up to established operations running much larger lots.
Where it is strongest
- Floorplan Xpress describes itself on its own site as 'privately held, independently focused,' and it has stayed centered on owner-operator used-car dealers since its current owners took over in 2006.
- It structures programs around the dealer's stage, with named tracks for 5-15 unit startups, 20-80 unit growing operations, and established 5+ year dealers, rather than one-size-fits-all underwriting.
- The company says it puts local representatives in each market rather than running a purely call-center or app-only relationship, according to its own marketing.
What to weigh
- Floorplan Xpress doesn't publish curtailment day-counts, advance rates, or fees anywhere on its site, so the real cost and structure of the line isn't visible until you apply.
- As a smaller, privately held specialty lender, it doesn't carry the public financial disclosures of a Cox Automotive or OPENLANE owned competitor, so you have less public information about the lender's own financial strength.
Pricing: Quote-based, not published.
5.Kinetic Advantage
Independent dealers who source heavily from trade-ins and dealer-to-dealer deals
Kinetic Advantage is a floor plan lender founded by industry veteran Marty McFarland and led by a team with backgrounds at Dealer Services Corporation and NextGear Capital, though it operates as an independent company rather than a Cox Automotive subsidiary. It finances auction purchases, trade-ins, dealer-to-dealer deals, off-street and consumer buys, consumer loan payoffs, dealer-owned inventory, and buybacks, with terms extending up to 180 days and access to more than 900 physical and digital auctions. A deferment option lets a dealer push back an upcoming curtailment payment for a flat fee instead of missing it outright.
Where it is strongest
- Kinetic Advantage lists an unusually wide range of sourcing types on its own site, including buybacks and dealer-owned inventory alongside the usual auction, trade-in, and off-street purchases.
- It advertises terms of up to 180 days and financing up to 100% of a unit's value on its own FAQ page, longer and higher than what most competitors in this guide disclose.
- Its deferment program lets a dealer push a curtailment payment back for a flat $95 fee, a clearly priced option instead of an open-ended negotiation when cash is tight.
What to weigh
- Kinetic Advantage doesn't publish which states or how many branch locations it operates, so a dealer outside its Midwest headquarters area should confirm coverage before applying.
- It's a newer, smaller company than NextGear or AFC and doesn't publish its funding sources or financial backing on its site, so ask directly how the line is capitalized.
Pricing: Quote-based, not published. A flat $95 fee applies to each curtailment deferment, per the company's own FAQ.
6.Ally Financial
Established independents that want a bank relationship instead of a specialty lender
Ally Financial, best known for franchise dealer floor plan through its GMAC-era roots, also offers Wholesale Inventory Financing that covers trade-ins, SmartAuction purchases, physical auction buys, and other approved sources for used inventory. It's a nationally chartered bank rather than a specialty finance company, which can mean a more traditional underwriting relationship and access to Ally's other commercial banking products. Ally's own site doesn't spell out separate eligibility rules for independent versus franchised dealers, so fit depends on the dealer's financial profile and existing relationship.
Where it is strongest
- Ally's own wholesale financing page confirms it floors trade-ins, SmartAuction purchases, physical auction buys, and other approved sources for used inventory, not just new vehicles for franchise stores.
- As a chartered bank rather than a specialty finance company, Ally can bundle floor plan with other commercial banking products like deposit accounts under one relationship.
- A November 2025 market analysis from Harney Partners names Ally among the big banks with dedicated dealer-services units serving 'large franchise groups and high-performing independents.'
What to weigh
- Ally's floor plan business has historically centered on franchised, new-vehicle dealers, and its site doesn't publish curtailment terms or independent-dealer specific eligibility rules, so a small or brand-new independent lot may find it a harder underwrite than a specialty lender built for that segment.
- Getting a floor plan decision means calling Ally's dealer help desk rather than applying through a fully self-service online flow, unlike some of the specialty lenders in this guide.
Pricing: Quote-based, not published.
The list, side by side
Who each one fits and how it is priced, in one table.
| Product | Best for | Pricing |
|---|---|---|
| NextGear Capital | Independent dealers who buy heavily at physical and online auctions | Quote-based, not published. |
| AFC (Automotive Finance Corporation) | Independent dealers buying from OPENLANE auctions or running salvage, RV, or fleet units | Quote-based, not published. |
| Westlake Flooring Services | Independent dealers who want a large, established lender and 100% auction financing | Not published on an ongoing basis. Westlake announced a limited-time 0% introductory rate for new dealers starting February 2025 (BusinessWire, dated February 3, 2025); confirm the current rate directly. |
| Floorplan Xpress | Owner-operator independent lots that want a lender focused only on floor plan | Quote-based, not published. |
| Kinetic Advantage | Independent dealers who source heavily from trade-ins and dealer-to-dealer deals | Quote-based, not published. A flat $95 fee applies to each curtailment deferment, per the company's own FAQ. |
| Ally Financial | Established independents that want a bank relationship instead of a specialty lender | Quote-based, not published. |
Questions dealers ask
Straight answers about floor plan financing for used car dealers.
What is curtailment in floor plan financing?
Curtailment is a forced paydown on the loan balance for a specific vehicle once it has been in a dealer's inventory past a set number of days without selling. AFC's own glossary defines it as a payment that reduces the outstanding balance on the loan, required by the lender in certain circumstances, and gives 60 days as an example interval before a dealer must pay down principal to get another term. Curtailment schedules exist to keep lenders from financing aged inventory indefinitely, and the payment typically increases the longer a car sits unsold.
Can I floor plan a trade-in or a car I bought from a private seller?
Yes, at most of the lenders in this guide. NextGear Capital, AFC, Kinetic Advantage, and Ally's wholesale financing program all state on their own sites that they'll floor trade-ins and off-street or private-party purchases, not just auction buys. Coverage and advance rates for these sources can differ from auction purchases, so confirm it explicitly with the lender rather than assuming it's automatically included.
Do independent used car dealers need a personal guarantee to get a floor plan line?
Increasingly, yes. A November 2025 market analysis from Harney Partners, a financial advisory firm covering dealer floor plan trends, found that smaller and independent dealers are now expected to provide personal guarantees on nearly all new floor plan facilities. Some lenders, such as NextGear Capital's First Gear program for dealerships open 12 months or less, offer a smaller starter line with lighter paperwork, but a personal guarantee should be expected as standard rather than the exception.
How much of a vehicle's price will a floor plan lender advance?
There's no single published number, and none of the lenders in this guide disclose a standard advance rate. Industry-wide, floor plan advance rates for used vehicles commonly fall in the 75% to 90% loan-to-value range, and independent used-car dealers tend to land toward the lower end of that range compared with franchise stores, according to Harney Partners' November 2025 market analysis. Ask each lender for its specific advance rate on used inventory before comparing offers.
What happens if I can't make a curtailment payment on time?
Missing a curtailment payment typically means the required paydown or fees on that vehicle increase, and repeated misses can lead a lender to pause new advances on the line until the account is brought current. Some lenders, including Kinetic Advantage, offer a deferment option, a flat fee to push the payment date back, instead of an automatic default, so ask about deferment or extension options before you're behind, not after.
Where these facts came from
Every capability and price above traces to a provider's own materials or a public record. Check anything that decides your purchase.
- https://www.autofinance.com/insights/dealer-floorplan-financing-glossary/
- https://harneypartners.com/floor-plan-financing-for-auto-dealers/
- https://www.sec.gov/Archives/edgar/data/1395942/000139594226000006/opln-20251231.htm
- https://www.nextgearcapital.com/solutions/floorplanning/
- https://www.nextgearcapital.com/solutions/financeprograms/
- https://www.nextgearcapital.com/resources/how-does-floor-plan-financing-work/
- https://www.autofinance.com/
- https://www.businesswire.com/news/home/20250203455491/en
- https://www.westlakeflooringservices.com/
- https://www.floorplanxpress.com/
- https://floorplanxpress.com/about-us
- https://floorplanxpress.com/financing
- https://www.kineticadvantage.com/floor-plan-faq/
- https://www.kineticadvantage.com/
- https://www.kineticadvantage.com/about/
- https://www.ally.com/dealer/auto-finance/wholesale-financing/
Verified August 2026. Product names and logos are the trademarks of their respective owners; naming them here is comparative reference and does not imply any affiliation with or endorsement by them.
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Read the guideOnce you have a floor plan, keep it in view
AutoDealer.io doesn't offer floor plan financing or broker it. Once you have a line with one of these lenders, our DMS tracks the balance, aging, and curtailment dates for every unit alongside the rest of your inventory.