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How to increase your chances for Float/Floorplan approval
How to increase your chances for Float/Floorplan approval

How to increase your chances for Float/Floorplan approval

Updated over a week ago

While the approval process is easier with Float, many dealers have been interested in what we look at and how to improve their odds of being approved. While this information doesn't guarantee an approval nor does it include everything we look at, though we primarily evaluate specific elements in your credit report and bank statements.

Below mentions the things that would decrease your likelihood of being approved.

Credit report

  1. Delinquencies within the last 60 days

  2. More than 6 credit inquiries on your account over the past year

  3. Oldest trade line opened in the last 2 years

  4. Over 70% of your available credit used

Bank Statements

  1. Average daily balances under $1,000

  2. Month end balances below $1,000

  3. Your daily average balance should be at least 5% of the line of credit amount you’re asking for

  4. Negative balances / NSF’s or overdrafts

  5. The number of withdrawals and deposits not lining up with the number of cars you sell


  1. Less than one year of experience in the auto industry

  2. Not having a website for your dealership

  3. Not advertising your vehicles online such as on cargurus or

Generally a denial comes from having a number of these causes for concern not just one. If you need some help improving your application feel free to email us at


Float Team


*Subject to credit review and approval, program guidelines, eligibility requirements, and terms and conditions of BacklotCars Float Financing Agreement. Application is not a commitment to advance funds. Certain products and services may not be available in all locations.

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