Wells Fargo has been serving the needs of automotive dealers and helping them achieve their personal and business goals since 1945, with world class service and cutting-edge financial solutions.
We offer auto dealers a complete suite of products and services to support a variety of business objectives including:
- Purchasing inventory for new, used, demo, and service loaner vehicles
- Working capital
- Commercial real estate financing
- Financing for acquisitions
- Succession planning
- Managing payments and receipts
- Risk mitigation
Gain the Wells Fargo Advantage
Wells Fargo has the proven industry experience and dedicated, personal attention to create unique financing structures to support dealers through business cycles, innovation, and evolving needs. By working with us, you may benefit from:
- National Accounts team with the expertise to support complex capital structures
- Regional sales team to serve the needs of local dealerships
- Retail financing services to help increase dealership sales, finance income, and help accelerate inventory turn
- Online floorplan account management tool enables dealers to efficiently manage inventory
- Treasury products to help improve operational efficiencies and help reduce fraud
Floorplan financing enables efficient, uninterrupted flow of inventory through the distribution channel and can provide the following potential benefits:
- Increased inventory availability at point of sale helping to yield sales growth
- Improved cash flow and liquidity resulting from extended repayment terms
- Adequate credit to accommodate day-to-day operations and longer-term objectives through right-sized credit lines
- Optimized allocation of capital evolving from reduced working capital requirements
Rate
Spread over 1-month SOFR
Terms
- New vehicles: Full balance due at the end of 18 months. 10% curtailment after 12 months and 15 months
- Used Vehicles: Full balance due at the end of 6 months; 10% curtailment after 90 days
Advance
- New Vehicles: 100% of manufacturer’s invoice
- Used Vehicles: 100% of auction value. Defined as current model year plus 7 previous model years with no more than 150,000 miles
Payoff requirements
Dealer to payoff any sold retail unit within 2 business days from the time the unit is funded or 10 business days from the date of sale, whichever is less
Equity account
Investment account allowing interest earned on investment to offset interest due on wholesale inventory
Direct flooring process
Wells Fargo has multiple agreements in place to floor directly with leading manufacturers
Treasury management solutions can potentially help dealers manage cash flow and liquidity, monitor accounts for fraud, analyze and report on balances and transactions, and establish limits and controls for accounts, transactions, and users. Our experienced team of professionals provide insights and solutions to help make treasury a competitive advantage.
Maximize dealership banking efficiencies
Faster payments
- Disbursements with Zelle® , Same Day ACH, real-time RTP® payments
- Buy vehicles and other big-ticket items, or issue refunds for things like escrowed funds and returned parts - all from a dealership or driveway
Commercial card
- One card platform for procurement and accounts payable disbursements
- Help maximize efficiency and control, improve working capital, and take advantage of revenue share
Depository solutions
- Desktop Deposit®, SafeVantage® smart safe, cash vault
- Reduce the time spent away from your dealership by using remote deposit for checks and a smart safe or cash vault services for cash deposits
Merchant services
- Wells Fargo Payment Gateway® , Telecheck verification
- Accept credit cards, debits cards, and ACH through terminals or online, get as-soon-as next day funding , and identify potentially bad checks
Fraud prevention
- Positive pay, Payment Authorization, ACH Fraud Filter, and Account Validation services
- Prevent unauthorized checks and ACH on your account and validate account information to identify high-risk transactions and increase approval rates
Honoring those that serve
Reliable automobiles provide stability and access to opportunities. Wells Fargo is proud to work with auto dealers across the country to award more than 110 vehicles and financial mentoring, valued at more than $3.6 million, to deserving combat-wounded veterans, Gold Star families, and military- and veteran-related nonprofit organizations.
Participating dealers in helping us support veterans in 2024
- All American Chevrolet of San Angelo
- Apple Autos
- Brilliance Honda of Crystal Lake
- Capital Ford Raleigh & Capital Ford Wilmington
- Hendrick Automotive Group
- Mark Ficken Ford Lincoln
- Nissan of Bowie
- South Shore Chrysler Dodge Jeep Ram
- Toyota
- Upstate Ford Dealers Association
- Vandergriff Toyota
- SoCal Honda Dealers Association
- San Diego Honda Dealers Association
- Schumacher Chevrolet of North Palm Beach
Economic and industry insights
Evolving auto market
Cynthia Caine shares how U.S. dealers are embracing new tools, pivoting to EV, and planning for growth.
Read article
Fraud schemes
Learn about impostor fraud, account takeovers, and data breaches, and how you can protect your company.
Fraud schemes
Economic outlooks
Read our commentary and insights on U.S. and international financial markets.
Learn more
Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
For your protection, Zelle® should only be used for sending money to customers and vendors you know and trust.
RTP® is a registered service mark of The Clearing House Payments Company L.L.C.
When depositing into a Wells Fargo commercial deposit account. Please refer to the Merchant Services Terms and Conditions and Operating Rules or Program Guide for additional information.
Based on internal data as of November 1, 2024
Wells Fargo Commercial Auto is the trade name in the United States for certain inventory financing (floor planning), working capital financing, commercial real estate financing and acquisition financing services of Wells Fargo Bank, N.A.. Wells Fargo Bank, N.A. is an Equal Credit Opportunity Lender. Wells Fargo Bank, N.A. is a bank affiliate of Wells Fargo & Company. Wells Fargo Bank, N.A. is not liable or responsible for obligations of its affiliates. All credit decisions are subject to approval. Additional collateral may be required.
Wells Fargo Auto is a division of Wells Fargo Bank, N.A.
Global Treasury Management products and services are provided by Wells Fargo Bank, N.A. Wells Fargo Bank, N.A. is a bank affiliate of Wells Fargo & Company. Wells Fargo Bank, N.A. is not liable or responsible for obligations of its affiliates.
Deposits held in non-U.S. branches, subsidiaries or affiliates are not FDIC or CDIC insured. Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.