NextGear Capital exceeds £1bn in wholesale vehicle funding

Time 9:29 am, March 21, 2017

NEXTGEAR Capital has provided finance for vehicles worth more than £1bn since the company was launched in 2014.

david-mercer-md-of-nextgear-capital-uk-irelandDavid Mercer, managing director of the Chester-based company, said: ‘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 £1bn 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 more than 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.

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Dave Brown's avatar

Dave, production editor on Car Dealer Magazine, is a journalist with more than 30 years' experience in the worlds of newspapers, magazines and public relations.

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