What’s a Personal Guarantee and why do I need one?
A Personal Guarantee is a straightforward agreement, required to protect the assets of NextGear Capital. As NextGear Capital retains title to the vehicles that you buy, it means that in the event of default by your business, NextGear Capital can lay claim to your assets, or the assets of a third party giving that guarantee, to […]
What’s a Landlord’s Waiver and why do I need one?
If you rent your property, NextGear Capital may request a signed Landlord’s Waiver. The Landlord’s Waiver is a document confirming that in the event of unpaid rent or charges, and that if he takes the premises back from you for non-payment of rent, he will let NextGear Capital recover its stock. As NextGear Capital retains […]
What is covered in the price?
We’ll cover 100% of the hammer price, including VAT where applicable, for eligible vehicles bought at auction. Auction fees and delivery costs are invoiced as disbursements and not included in the purchase price. For vehicles that are Trade Sourced, we’ll cover the purchase price less any reduction of valuation risk based on trade guide values […]
How much does it cost?
If we ask you now how much it costs to stock individual vehicles or how much profit you’ve made when all costs are taken into consideration, like most dealers you might find it difficult to pinpoint a figure. But with NextGear Capital, you’ll be able to accurately work out the profit figure for every sale. […]
I’m an Auction House/Wholesaler, how do I get involved?
Just call our Customer Service Team on 0343 50 60 600 or email us. We’ll then put you in touch with your Account Manager who will take you through the process of signing up to accept NextGear Capital buyers and answer any questions you have before you get started.
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 […]
I’m a dealer, how do I apply?
To apply, visit our online application form. The process should only take a few minutes and you just need to follow the instructions on the form for help. In order to make an application for a NextGear Capital Stocking Plan, you need to fulfill the following criteria: be a VAT registered dealer have physical premises where customers […]
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 […]
Who is NextGear Capital UK?
In the USA, NextGear Capital, Inc developed from the merger of Manheim Automotive Financial Services, Inc. (MAFS) and Dealer Services Corporation (DSC). These two industry leaders successfully formed an independent floor plan company built on the solid foundations of customer focus, technology and service serving over 17,000 dealers and 1,000 auction houses across North America […]
