Funding
Leading Through Innovation: Gaining a Competitive Edge with Digital Pre-Checks
Wholesale and floorplan finance has always balanced two pressures. Lenders want to grow their books through better dealer coverage and broader asset support. At the same time they must show strong control over credit and fraud risk. That balance has become harder as markets move faster and dealers expect quicker access to funding. The lenders…
Read MoreFrom Professional Poker to £2.9M Automotive Fraud
George Janssen understood calculated risks better than most. As a professional poker player, he knew when to bluff, when to fold, and how to read the odds. But when he applied these skills to automotive finance fraud at Bay Auto Brokers in Bay City, Michigan, the stakes became catastrophically real. Over seven years, from 2016…
Read MoreSelling Out of Trust: How Fraud Continued Despite Court Orders
Timothy Bunn’s case presents the most troubling scenario in automotive finance fraud: systematic violations that continued even under court supervision. At Moxie Auto Sales in Lincoln, Nebraska, Bunn sold vehicles “out of trust” for months despite multiple audits, default notices, and ultimately a court restraining order. The scheme resulted in over £389,000 ($525,000) in losses…
Read MoreThe £2.2M Shell Game: When Trust Becomes a Weapon
How Mitchell Simpson exploited cross-lender blind spots for seven years—and why traditional funding processes failed to detect the scheme For seven years, Mitchell Simpson operated Mitch Simpson Motors in Cleveland, Georgia, whilst systematically defrauding three separate floorplan financing companies. His operation, which prosecutors called a “shell game with vehicle titles,” resulted in approximately £2.2 million…
Read MoreStop Drowning in Paperwork: How CheckVentory Pre-Check Cuts Wholesale Origination Costs
Your team spends hours chasing missing documentation, manually validating assets and fixing data errors that could have been prevented. Meanwhile, dealers frustratingly wait for funding decisions, and this manual, resource-intensive process limits your growth. Sound familiar? For automotive floorplan funders, this scenario plays out daily across the industry. The culprit? Outdated wholesale origination processes that…
Read MoreThe Evolution of Inventory Auditing: From Manual Checks to AI-Powered Solutions
Do you remember the days when inventory auditing meant clipboards, endless spreadsheets, and long hours trudging through dealership forecourts? For many of us in the world of wholesale vehicle finance, those memories are all too vivid – and perhaps tinged with a bit of nostalgia. (After all, who doesn’t miss the occasional game of “find…
Read MoreThe Answer to Better Collaboration Between Dealers and Funders
In the fast-paced world of dealership financing, effective collaboration between dealers and funders is crucial. Yet, this collaboration is often hampered by a critical challenge: the lack of clear and actionable insights. The absence of real-time, accurate data can lead to misaligned expectations, inefficient operations, and missed opportunities. Funders need to have confidence in the…
Read MoreTackling Discrepancies: Your Guide to Effective Follow-Ups Post Floorplan Auditing
In our previous discussion on creating an efficient audit plan, we highlighted the importance of floorplan auditing to ensure that assets are accounted for and in the expected condition. However, what steps should be taken when discrepancies are unearthed during these audits? Addressing these issues promptly and effectively is crucial to maintaining the integrity of…
Read MoreOptimising Inventory Management in Automotive Floorplan Funding Through Data Analytics and AI
The efficient handling of inventory is paramount in the arena of automotive floorplan funding. Here, funders finance vehicles held by dealerships, making it crucial for both parties to optimise cash flow, minimise operational expenditure, and mitigate associated risks. Conventional methods of inventory management, reliant on manual audits and paper-based records, are increasingly seen as inefficient…
Read MoreHow Regular Floorplan Audits Protect Dealers and Lenders
Inventory is the lifeblood of an auto dealership. Having the right vehicles on the lot to showcase to customers is critical for sales. Most dealerships rely on floorplan financing to fund the acquisition of their vehicle inventory. This involves receiving a line of credit from a lender to purchase vehicles, with the vehicles themselves serving…
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