Frequently asked questions
01 Are we regulated?
We’re not FCA-regulated. We fund used cars and vehicles directly, which means we’ll fund the stock you source for your forecourt, but we’ll never lend you money.
02 Do we tell customers what stock to buy?
No. We’re the only wholesale funder in the UK to offer our customers flexibility in the stock they buy. Dealers can source their vehicles from their choice of auction, wholesale, trade, private or part-exchange stockists, or make use of our partner auctions. You find it, we’ll fund it.
03 Who can apply for a NextGear Capital Stocking Plan?
To apply for a NextGear Capital Stocking Plan, which start from £50,000, you need to:
- Be a VAT registered used vehicle dealer
- Have physical premises where customers are able to view vehicles for sale
- Be able to provide financial information to demonstrate your trading history
- Be willing to provide a
- Personal guarantee if required.
If you have any questions about eligibility, please call our Customer Service team on 0343 50 60 600, and the team will explain the criteria in more detail.
04 How quickly can I set up a Stocking Plan?
If you make your application online today, you can expect confirmation that we’ve received it within one working day. If we need additional information from you about you or your business, such as bank statements and financial statements, we will contact you within two working days. If you can provide all the necessary information, you can expect an onboarding decision in a further two working days.
If the application is approved, all the necessary documentation and requests for information (such as insurance, proofs of ID/address, and Landlords Waiver) should be with you within three working days. Once we have received and satisfactorily reviewed the required documentation, we will activate your Stocking Plan within five working days.
