by FamilyFirst.11073 » Tue Jun 11, 2013 7:06 pm
Thanks for the info Gene.
I have subsequently found out that I must get a Texas Motor Vehicle Sales Finance license from the Texas OCCC in order to originate notes.
While I have your ear, obviously when it comes to gaining a floor plan, most if not all want you to have two (2) years in business with plenty of financials. What do you think would be a productive approach for a newly licensed dealer (w/12+yrs retail/wholesale/finance exp.) to secure a small ($25k-$50k) floor plan to get things going? Even if creatively speaking, the dealer could put up 10-20% to help securitize the line?
Jofree