floor plan financing


floor plan financing
Arrangement for the lending of money to an automobile dealer, or other supplier of goods, so that he may purchase cars, or other articles, to include in his inventory; the loan being secured by the automobiles or other goods while in the dealer's possession, and is gradually reduced as the cars or other merchandise are sold. Harlan v. U. S., 160 Ct.Cl. 209, 312 F.2d 402, 406

Black's law dictionary. . 1990.