Tag Archives: NextGear Capital

NextGear Capital, the wholesale funding firm, and online auction platform 1link Trade Buyer have joined forces to help trade buyers source and fund stock in just a few clicks. The new arrangement means NextGear Capital customers can instantly add vehicles purchased on epyx’s 1link Trade Buyer to their Stocking Plan, easing the buying process and opening the platform to them ...

NextGear Capital, the wholesale funding provider, has overhauled its Stocking Plan. The amount customers re-pay while vehicles are on plan has been cut by, on average, 66%, and the monthly audit fee has been removed. The maximum vehicle value on core plans has also been raised from £45,000 to £75,000. The changes were introduced as of 1st August. Managing director ...

NextGear Capital has partnered with TradeBid. TradeBid launched on the 14th December 2021 as the first technology-driven dealer-to-dealer marketplace (in Ireland) to help dealers to sell, buy and trade vehicles. It provides a fully digital solution, where dealers can browse, bid, pay and have vehicles delivered directly to their forecourts. The partnership means that buyers (who already have access to ...

In this instalment of Meet the Supplier, we hear from Liam Quegan, Managing Director of NextGear Capital. NextGear Capital is a Cox Automotive brand, which offers stocking plans for used car dealers. Launched in 2014, NextGear is based in the city of Chester, and has over 80 employees, including a team of Account Managers covering the whole of the UK.

  The pandemic has had a “profound effect” on dealer buying behaviour, with businesses turning to a variety of sources to keep their forecourts stocked with used cars. A survey by NextGear Capital found that two-fifths of dealers have used digital-only auctions more in the last 12 months, and 44% report having bought more stock direct from consumers than they ...

Nearly half of used vehicle dealerships in the UK are in buoyant mood for 2021, with 43% optimistically predicting that used vehicle profit margins will rise throughout the course of the year. According to NextGear Capital, this optimism outshines the sentiment expressed in January 2020, when 54% were anticipating a reduction in their fortunes. Fast-forward twelve months and fewer than ...

The number of dealers using overdraft facilities to stock forecourts has more than doubled over the past two years. In October 2018 just 9% of dealers used an overdraft for wholesale funding and this more than doubled to 22% in October this year according to new research from Next Gear Capital., One in four dealers have used short-term finance options ...

Declining demand for diesel stock is starting to impact the used car market according to the latest NextGear Capital sentiment survey. Almost a third of dealers surveyed reported experiencing a fall-off in demand for diesel stock. A fifth expect demand to decrease more in the next six months compared to the first half of the year. As a result, 38% ...

Almost two thirds of dealers are on track or are performing above their half year forecasts. The latest NextGear Capital sentiment survey showed that a third of those surveyed said they had increased their used car stock volumes in the first six months of the year. One in ten have reported investing in additional funding to enable business growth, while ...

Three quarters of the dealers are satisfied with their current stock turn according to research by NextGear Capital. When posed the question “are you satisfied at the speed at which you can convert the used vehicles you buy into a sale?”, 74% confirmed that they were happy with their average days to sell being between 30 and 60 days. 11% ...