Flex Fund Announces FLEXible Trade-Ins.New Program Saves Auto Dealers Time, Frees Up Cash Assets YORBA LINDA Yorba Linda (yôr`bə lĭn`də), city (1990 pop. 52,422), Orange co., S Calif., in a region of citrus fruit; inc. 1967. The city has grown tremendously along with the southern California area; its population increased fivefold between , Calif. -- Flex Fund Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading provider of used-car inventory financing Inventory financing Used in the context of factoring and general finance to refer to loans to consumer product producers that use inventory as collateral. See also: Inventory loan. for new- and used-car dealers, and salvage buyers, today announced FLEXible Trade-Ins, a new program specifically designed to save dealers time and money on trade-in vehicles. Through FLEXible Trade-Ins, Flex Fund will directly finance trade-in vehicle transactions that involve outstanding loan balances. Dealers can now use FLEXible Trade-Ins to immediately pay off loan balances for vehicles. "FLEXible Trade-Ins allows our dealers to conserve precious cash while simultaneously expanding their ability to hold and retail desirable trade-in vehicles," said Cliff James, Flex Fund CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Typically, a dealer does not receive the title to a purchased trade-in vehicle until he/she has paid the outstanding funds to the vehicle's lien holder. Dealers can't obtain inventory financing until they have the vehicle's title. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. James, policies like these consume two of the dealer's most precious commodities - time and cash. Cash is consumed when the dealer pays off the trade-in vehicle loan balance to the lien holder. Time is consumed because it often takes two to five weeks for the dealer to receive a title that he can then present for floor planning Floor planning Arrangement used to finance inventory. A finance company buys the inventory, which is then held in trust for the user. . Concluded James, "FLEXible Trade-Ins dramatically expands the dealer's potential related to trade-in vehicle business because it conserves cash and saves time. This new program is another example of Flex Fund listening to our customers and then responding with an innovative solution." About Flex Fund Flex Fund Financial Services, LLC, provides used-car inventory financing (floor planning) to new- and used-car dealers, and salvage buyers. The company has established relationships with key industry leaders, offering customers access to a broad selection of inventory with innovative financing options to meet their needs. Headquartered in Orange County, Calif., with operations in Minneapolis, Flex Fund is led by a senior management team with more than 150 years of automotive industry experience. To learn more, visit Flex Fund online at: www.flexfund.net. |
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