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Slowing Inventory Turnover Reduces Floorplan ABS Payment Rates

As vehicles idle on dealers’ lots, auto lenders face slower repayment of their floorplan loans. Nissan Motor Acceptance Corp., for one, has been in breach of a floorplan trigger since February, when its three-month payment rate dropped below 35%. As such, NMAC had to increase credit enhancement levels in its floorplan trust. Ally Financial, Ford […]