Floorplan Finance Survey, March 6-9, 2009
(71 NHADA member responses)
Dealer Status Survey, March 11-19, 2009
(35 NHADA member responses) |
| $3.8 million |
— |
average floorplan balance for all reporting dealers |
| $5.9 million |
— |
average floorplan limit for all reporting dealers |
| 78% |
— |
dealers having an average floorplan of less than $4 million |
| $11,800 |
— |
average monthly interest cost to reporting dealers for floorplan financing |
| 27% |
— |
dealers reported that their floorplan lender announced or threatened it will be exiting automotive lending |
| 44% |
— |
dealers reported that their floorplan lender increased curtailment terms |
| 42% |
— |
dealers reported that their floorplan lender increased financial covenant requirements |
| 75% |
— |
dealers reported that their floorplan lender increased percentage rates |
| 46% |
— |
dealers reported that their floorplan lender reduced floorplan limits |
| 25% |
— |
dealers reported that their floorplan lender forced the dealer to agree to modifications of the floorplan note under threat of otherwise calling the note |
| 10% |
— |
dealers reported that their floor plan lender demanded full payment of the full balance of the floorplan note |
| 61% |
— |
of dealers reported a profit in 2008 |
| $21,149 |
— |
average Business Profits Tax paid in 2008 by reporting dealers |
| $14,251 |
— |
average Business Enterprise Tax paid in 2008 by reporting dealers |
