Unit financing for dealers

[DonkeyApple]

Does anyone know how these rolling facilities tend to work for a dealer?

If there is a 3 month facility on a car in stock will that dealer incur fees to roll it over for another 3 months if the vehicle hasn't sold?

[The Rotrex Kid]

IME you have a pot of money that you can dip in and out of as you need to, you tell them the VIN and the amount you need, that uses up that amount of your ‘pot’

So there’s no specific time limit or any kind of renewal (on what I’ve used, which ain’t a lot) and you pay interest on what you use.

[DonkeyApple]

The Rotrex Kid said:

IME you have a pot of money that you can dip in and out of as you need to, you tell them the VIN and the amount you need, that uses up that amount of your ‘pot’

So there’s no specific time limit or any kind of renewal (on what I’ve used, which ain’t a lot) and you pay interest on what you use.

Thanks. I would have assumed it would be a simple facility with a defined limit but what threw me was there being an expiry date and an opening date that corresponds to their acquisition of the car. Ie it looks like a 3m facility specific to the car?

[The Rotrex Kid]

I don’t know for sure but it could be a limitation of the HPI system that it has to show a term, not sure.