OPENLANE AFC Floorplan

OPENLANE AFC Floorplan: AFC, the Automotive Finance Corporation, is described by OPENLANE as its sister company providing floorplan financing for dealers. Floorplan financing is a revolving line of credit used to buy inventory, where the lender pays the seller or auction directly, the vehicles serve as collateral.

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OPENLANE AFC Floorplan: AFC Floorplan

The dealer repays as each vehicle is sold.

AFC says it has provided floorplan financing since 1987 and works through branch locations across North America. The company presents itself as part of an end-to-end remarketing lifecycle alongside the OPENLANE marketplace.

So a dealer can buy vehicles and finance them in one flow.

The link to the marketplace is the checkout step. According to OPENLANE, dealers can floor eligible OPENLANE purchases directly to their AFC account during checkout without extra steps.

AFC's help documents describe how to enable an AFC flooring line on OPENLANE.com. A PDF on the OPENLANE marketing site walks through that enablement.

AFC describes its dealer platform as AFCDealer, where dealers view balances, make payments and manage their floorplan with around-the-clock access. The company says a dedicated AFC team tailors financing terms to each dealership.

The company also says dealers can floor the vehicle price, auction fees and transportation, although the terms of any line are set in a credit agreement.

AFC announced a flexible alternative for cash buyers, described in an OPENLANE corporate release and an Auto Remarketing piece, aimed at independent dealers who prefer not to use a traditional floorplan structure. OPENLANE's insight articles for the US and Canada explain floorplan financing for readers who are new to it.

Because floorplan is credit, the evaluation is different from software. A dealer would compare the advance rate on the vehicle, the curtailment schedule, the audit and inspection cadence, how title is held, what fees apply, and how quickly funds are released on an auction purchase.

Each lender sets its own terms, and the dealer's lender relationships can carry consequences for cash flow.

AFC is listed here because it is a product offered through a software and marketplace company. The category guide lays out the neutral questions to ask any floorplan provider.

AFC, the floorplan lender, is a subsidiary that ADESA bought in 1994. It stayed with the company after the 2022 sale of ADESA US to Carvana and now sits under OPENLANE.

Floorplan is the credit line a dealer uses to carry inventory.

KAR Auction Services was incorporated in 2006 and bought ADESA and Insurance Auto Auctions in 2007. A dealer would compare floorplan terms and audit rights across lenders.

OPENLANE AFC Floorplan functions
Product or service	Function
AFC Floorplan	Floorplan financing for dealers.