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Home » Ally Financial bolsters Vroom’s floorplan facility

Ally Financial bolsters Vroom’s floorplan facility

The bank extended the credit line to $700M, up from $450M

Joey PizzolatobyJoey Pizzolato
December 22, 2021
in Capital & Funding
Reading Time: 2 mins read
0
Fear of an impending car-price collapse grips auto industry

Photographer: Bloomberg/Bloomberg

Ally Financial has increased Vroom’s floorplan line of credit to nearly double its former amount as the online used-car retailer looks to continue its growth trajectory in 2022. The floorplan line of credit, which is scheduled to expire Sept. 30, 2022, was increased to $700 million, up from the original $450 million, Vroom announced Monday. […]

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