Hello Everyone, I am new to the Dealer World. Currently, I am in the process of taking over a Independent Used Auto Sales operation. The current owner has been in the field for 12 years now. He started with the lot that I am taking over which can hold approx. 40 to 50 vehicles. He then built a bigger lot that could hold over 100 vehicles, ran it for about 6 years, and sold it to his GM. He then reopened the lot that I am now in the process of taking over about 2 1/2 years ago with the intention of handing it over to his son. Well, his son wants nothing to do with it. Since I was in the process of opening my own lot, he offered myself and my business partner ownership of his business. Basically, I take the business name, and lease the lot with the first 3 months free. The only kicker is I have to obtain a Floor Plan to take over his current inventory of just over 200k. He's giving us the inventory at cost. This has been the hurtle of all hurtles to over come! I started with the small town bank that he uses for his floor plan. First the guy I spoke to told me he seen no problem with giving us our own floor plan, and transferring the titles to us. He said he only needed approval from his boss. Then I get a phone call saying that they are going to require at least 40% collateral. So, my business partner and I came up with about 48% Collateral on 200k. Then I get a phone call stating that they don't feel that its in the best interest of the bank to present our request to their board. So now I am stuck trying to find a floor plan company that will work with us. I figured that since the lot has a great reputation in our area, and has been a very profitable business to begin with, that we would not have a problem with the financing. However, I was wrong. So, if anyone can help with some idea's on how to obtain a floor plan of at least 200k? I need some ideas! I am currently working with a lady from our local college that helps small businesses obtain loans. However, her main resources does not focus on floor plans. Only general small business loans. We are creating a business plan to present to other financial companies. Does anyone have any other advice, or information that could help me throughout this process?