Around half of car and truck dealers stranded by the planned (but delayed) withdrawal of GE Money Motor Solutions and GMAC from the supply of floor plan financings may have already found alternative funding in the private market.The planned special purpose vehicle that will be funded by the four major banks and part guaranteed by the Australian government is still some days away from being finally put into place.Greg O'Callaghan, managing director of GE Money Motor Solutions said the firm had reduced its level of loans to the sector to around $600 million from a 2008 peak of around $1.5 billion. This level of lending for GE includes working capital and related business loans, both types of lending that the special purpose vehicle won't cover.GMAC is thought to have had around $500 million in loans to dealers to refinance last year at the time of its decision to quit the Australian market though it's not clear what percentage of its client base have already found new funders.There is also speculation that Ford Credit may have plans to withdraw from providing wholesale finance to dealers. Ford Credit on Wednesday advised dealers that it would withdraw from the retail finance market from the end of February, leaving dealers to find other financiers to fund instalment loans and leases for customers. O'Callaghan said financiers taking over his client base were mainly funded by Esanda (a subsidiary of ANZ), St George (a subsidiary of Westpac) and to a lesser extent Capital Finance (a subsidiary of HBOS) and Toyota Finance.Other vendor financiers taking over some funding are Nissan Finance (which is new to the market), BMW Finance and Chrysler dealers (selling the Jeep and Mercedes Benz marques).At this stage Treasury lists only five financiers that are qualified as a "participating" financier under the proposed special purpose vehicle. These are Esanda, St George, Capital Finance, Alphera Financial Services (owned by BMW Financial Services) and Nissan.While Commonwealth Bank and National Australia Bank will jointly fund the SPV with other banks, neither has any management capacity in place to service the sector after selling their relevant subsidiaries some years ago.Dealers needing to rely on funding from the SPV rather than the private market must negotiate finance through one of the government's five financiers.O'Callaghan said GE extended the cutoff for its withdrawal from funding car dealers to the end of January, though banks anticipate GE and also GMAC may continue funding dealers for a little longer while they bed down the transition to the SPV.