What made this a viable option for affiliate stores is what makes it attractive to nonaffiliates.
We offer the same service mentality. We have the ability to fund quickly. It's what we call self-serve funding. Dealers get paid the same day for the contract. It's a big selling feature, especially for larger stores. It virtually eliminates contracts in transit. And it has been just as well received on the nonaffiliate side as it is on the affiliate side.
Floorplan is probably the number-one cost on the balance sheet to the retailer. We are paying off cars quickly, just the same as we do on the retail side.
From the price (rate) point, we are competitive, but not the lowest. Our systems allow dealers to manage inventory to the point where they can limit additional cost.
Often dealers have to communicate by fax with the floorplan lender, and the cars are paid off by check. Our dealers can manage their account online.
It takes two or three days to pay off a car, and dealers are incurring interest expense on a daily basis. We're limiting the wholesale expense by paying dealers on a timely basis.