Honda Finance to provide more floorplan loans.(News)(American Honda Finance Corp. )(Brief Article)

Automotive News, October, 2004 by Jackson, Kathy

Byline: Kathy Jackson

American Honda Finance Corp. plans to pursue more dealer floorplanning business.

The company also will provide loans to customers who buy used vehicles of other brands at Honda and Acura dealerships, says Stephen Smith, senior vice president of financial services.

The finance company provides wholesale or floorplanning loans to less than 10 percent of Honda and Acura dealerships, Smith says. It provides retail loans to 55 percent of the stores.

Smith says the company represents about 120 dealers on the wholesale side. He wants to increase that number to 300 to 400.

No auto focus

When the finance company was formed in the 1980s, it concentrated on its motorcycle and power equipment operations,...

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