How does the product work for dealers?
- You become an approved buyer and buy stock on behalf of NextGear Capital who retain title of the vehicle
- You have a rolling stock plan limit set at an agreed amount above £30,000 and private purchases to trade purchases
- You can select vehicles at partner auctions or online, just as you do now. These are Auction Source purchases
- You can also add trade purchases and part exchange vehicles. These are Trade Source purchases
- A vehicle can be held in stock for up to 120 days
- Interim payments will be required after 45 days, 75 days and 105 days
- A daily holding charge applies throughout the holding period
- Fixed fees are payable at the start of the holding period and on the interim payment dates
- Fixed fees are paid at the end of each period or on the sale of vehicle
- The plan could release your cashflow and provides a speedy, efficient, end to end process
- Gives you greater buying/selling power
What this really means is that you can buy more of the kind of vehicles that you know will sell well, upgrade the models you’re selling to include some more expensive/newer vehicles, or if you’re keen to expand your market to include LCVs, this could be a great opportunity.