NextGear Capital helps free up cash flow

NextGear Capital helping franchised dealers to free up cash flow

Pam Halliday, Sales and Marketing Director of NextGear Capital UK

Franchised dealers are freeing up cash flow with the help of NextGear Capital’s stock funding solutions. For franchised dealers the Stocking Plans work as a complimentary funding facility, which helps dealers fund trade source and part exchange vehicles as well as purchase vehicles from a range of wholesale sources without the need to invest any cash up front.

Pam Halliday, Sales and Marketing Director of NextGear Capital UK, said: “Franchised dealers now account for more than 10% of our current funding facilities, and we expect that figure to grow. Our Franchise and Franchise+ offerings are complementary to other funding activities already in place, for example retail financing, and alongside our 100% funding model, we provide highly innovative tools for accessing stocking information.”

Funding a vehicle from NextGear Capital’s approved partner network simply involves adding the vehicle to a Stocking Plan at the click of a button via the StockMaster platform – which can be done remotely or on the go – and is typically even faster than paying by debit card.

The Franchise+ solution from NextGear Capital enables dealers to maximise manufacturers’ demonstrator vehicle benefits. The approach is highly tailored, enabling them to fund courtesy, staff and demonstrator vehicles to meet the requirements in manufacturer agreements.

These vehicles can be kept on the Franchise+ stocking plan for up to 180 days, after which they can be loaded as trade vehicles on their standard Franchise Stocking Plan for a further 150 days – providing a maximum of 330 stocking days.

Buckinghamshire Mazda took the approach of using a NextGear Capital stocking plan to strengthen the Mazda brand, by increasing the number of used vehicles on their forecourt. With a varied stock profile of over 300 vehicles, ranging in value from £2,000 to £50,000, Managing Director Floyd Timms reports that having a stocking plan has increased their volume by 20%.

From the outset, I knew a NextGear Capital stocking plan could be used to complement the existing structure of our business and the manufacturer finance already in place.
- Floyd Timms