Floor Plan Inspections

Collateral Specialists Inc.’s Floor Plan Inspection Service provides financial institutions with an accurate accounting of their floor planned inventory. With this service, clients can have a regularly scheduled accounting of their inventory as often as they desire. CSI can report on the status of the inventory (e.g. in stock, on demo, on rent, not received, sold, etc.), and if sold when payment was issued. CSI representatives, if requested, can also collect payment on units sold but not paid for by dealers

Aspects of CSI’s Floor Plan Inspection Service include:

  • Inventory Inspections
  • Dealer Monitoring
  • Rental Fleets
  • Field Inspection Technology
  • Industries We Serve

Inventory Inspection

CSI’s Inventory Inspection Service provides lenders with a regularly scheduled accounting of their financed inventory. A CSI field representative will visit your dealers on a frequency determined by you, verifying your inventory by serial number and model. After locating the inventory that is in stock, the inspector will reconcile missing units with the dealer based on your requirements. Utilizing CSI’s Field Inspection Technology (FIT) system, audits can be completed on a handheld computer and the results returned electronically.

Inventory inspections assist with:

  • More timely identification of risk
  • Identifying trends that can be used in the management decision process
  • Lowering your costs associated with risk management

Dealer Monitoring

In situations where the level of risk is high and a dealer may be out of trust, CSI can place one of its Field Representatives at your dealer’s site during business hours. CSI can monitor your collateral and track sales, verify that bank deposits are made and confirm that inventory is on hand.

CSI offers the following monitoring services while on site:

  • Perform a daily inspection of the financed inventory
  • Reconcile units’ keys and titles to the inventory list daily
  • Hold keys, titles, and registration documents in an independent manner (e.g. lockbox available only to the monitor) and release them only for finance company-approved purposes
  • Track proceeds and encourage prompt payment of flooring obligations
  • Follow up with dealership regarding ability to pay current SOT amounts
  • Oversee and report loading of transporters when inventory is moved or reclaimed
  • Communicate all relevant information directly to the finance company

Field Inspection Technology

CSI’s Field Inspection Technology (FIT) system is a comprehensive set of tools that provides its clients with inspection results electronically. Comprised of three components, an inventory database, an interactive website and handheld computers, the components work together in order to efficiently and accurately provide you with timely results.

Benefits of the FIT System:

  • Same day results transmitted upon completion
  • Secure web based system
  • Track dealer inspection history
  • On line access to current and former inspection results
  • Track unit disposition history
  • Summarized inspection results
  • Detailed follow up for payment report
  • Detailed reports showing which units were not seen
  • Data collection rules based on your audit requirements

Industries We Serve

  • Agricultural Equipment
  • Appliances
  • All Terrain Vehicles
  • Automobiles
  • Computer Equipment
  • Construction Machinery
  • Consumer Electronics
  • Industrial Equipment
  • Lawn and Garden Equipment
  • Manufactured Housing
  • Marine Products
  • Material Handling
  • Motorcycles
  • Musical Instruments
  • Office Equipment
  • Outdoor Power Equipment
  • Powersports
  • Recreational Vehicles
  • School Buses
  • Snowmobiles
  • Trucks and Transportation
  • Utility Trailers