Key Total Treasury

 

Auto Dealership Finance

Key helps franchised auto dealership owners keep inventory well-stocked, build the best facilities, and support their operations with customized electronic banking tools. Cash management, inventory management and online access are all part of Key’s financial platform that has been designed to meet auto inventory and dealer financing needs.

KeyBank Auto Dealer Financing Services

We complement our core auto inventory financing and real estate loan solutions with a number of financial tools that help keep your business finances fine-tuned. Our Dealer Services representatives work in collaboration with other KeyBank experts to establish the best balance of personal and business investment.

Key enjoys long-standing auto dealer financing relationships with dealerships around the country. Recent successes include:

  • A Michigan-based class 8 specialty truck dealer was able to reduce inventory-carrying expenses, commit to construction of a second facility, and ensure adequate cash flow with special up-fitting financing through a $33 million credit facility.
  • Through acquisition financing of $7 million, a Northeast Ohio automobile dealer was able to buy out his minority partner in two dealerships, ensuring the business remains in the family with his active children.
  • A Washington State auto dealer selling import franchised vehicles from two locations was able to expand and diversify his business via purchase of a domestic franchise dealership at a third location. In addition to providing $8,400,000 in floorplan borrowing facilities for the domestic store, Key is also administering a $1,700,000 construction loan for necessary improvements to one of the import stores.

KeyBank Auto Dealer Financing Services supports franchised auto dealership owners with a broad spectrum of financial needs. Financing options include include auto inventory finance, real estate finance, working capital and acquisition financing, management and other financial services.

In particular, we have developed a platform designed for the specific financial requirements common to auto dealerships.

Key Inventory Management enables you to:

  • Electronically enter loan requests
  • Pay off floored units online as they are sold
  • Access your monthly billing statements
  • Download floored inventory activity data

Key Total Treasury enables you to:

  • Comprehensively manage cash flow
  • Initiate wire payments
  • Help detect and prevent fraud
  • View all account activity 24/7
  • View demo for more information

KeyBank Dealer Services newsletter focuses on the needs of auto dealership owners and provides current insights on auto inventory financing and more that is relevant to your business.