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  • Retail floorplan

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    Retail floor planning (also referred to as floorplanning or inventory financing) is a type of short term loan used by retailers to purchase high-cost inventory such as automobiles. These loans are often secured by the inventory purchased as collateral. Floor planning is commonly used in new and used car dealerships. Contrary to common perceptions, most car dealers do not pay cash for the vehicles on their lot. Even smaller dealerships can have an inventory of vehicles representing millions of dollars of capital investment. Most car dealerships use a floorplan facility to finance their inventory and factor the cost of the facility into the price presented to the consumer. The practice of using floorplan loans to finance inventory creates an incentive for the dealers sell vehicles as quickly as possible in order to reduce the amount of interest that will accrue on the floored vehicle. Floor planning costs can run into hundreds of thousands of dollars a month for a big multi-location dealer with large inventories. In the case of new vehicles, they are generally floor planned by the manufacturer, such as Ally Financial (formerly GMAC).

  • Enterprise Car Sales

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    Enterprise Car Sales was established in 1962 by Enterprise Rent-A-Car founder Jack Taylor and is an expanded service of the Enterprise Holdings, the largest rental car company in North America. Enterprise Car Sales has more than 120 locations nationwide, and is recognized as one of the largest sellers of used cars in the United States. Their inventory is composed entirely of used vehicles in over 250 available makes and models, most of them gleaned from Enterprise’s own fleet of more than 700,000 rental cars. At any given time, Enterprise Car Sales has more than 6,000 vehicles for sale.

  • South Dakota v. Opperman

    serch.it?q=South-Dakota-v.-Opperman

    South Dakota v. Opperman, 428 U.S. 364 (1976), elaborated on the community caretaking doctrine. Under the Fourth Amendment, "unreasonable" searches and seizures are forbidden. In addition to their law enforcement duties, the police must engage in what the Court has termed a community caretaking role, including such duties as removing obstructions from roadways in order to ensure the free flow of traffic. When the police act in this role, they may inventory cars they have seized without "unreasonably" searching those cars.

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