NextGear Capital exceeds £1 billion in wholesale vehicle funding
In excess of 142,000 vehicles across the UK and Ireland have been funded by NextGear Capital since its launch in 2014, with the total value of vehicles exceeding £1 billion.
David Mercer, Managing Director of NextGear Capital, commented: “It’s fantastic to see the growth we’ve enabled among our 1200+ strong dealer base. Reaching this milestone in wholesale vehicle funding means our dealers have not had to outlay the sum of £1 billion of their own capital on stock, freeing it up to help enhance their businesses in other ways.
“Our business has seen exceptional growth over the past three years, progressing from funding just over 9,500 vehicles in 2014 worth a total of £63 million to 2017, where we expect to fund more than 100,000 vehicles as the clear market leader.”
NextGear Capital provides Stocking Plans as either a complimentary or replacement source of funding to more than 1,200 Independent and Franchise dealers. With facilities currently in excess of £150 million and a field based team of over 20 specialists, NextGear Capital supports dealers by funding vehicles direct from 60+ auction and wholesale sources across the UK and Ireland.
Dealers with a NextGear Capital Stocking Plan have 24/7 online access to their account via the unique StockMaster platform, which aggregates their stock, simplifying their buying process by providing the ability to view and fund pending vehicles won from participating auctions all in one place.