£100m of new dealer stock funding in under a year! - NextGear Capital UK
NextGear Capital announced a key milestone event at its Chester offices with the sounding of a bell as the business lending broke through the £100M barrier on Thursday March 5th. It was a number delivered on schedule.
As well as the impressive volume achievement, in the same week the business welcomed its 400th dealer customer. The two accomplishments reflect the impact that NextGear Capital has had in supporting the remarketing cycle. In line with the business strapline, dealers are demonstrating that they can now ‘stock more and sell more.’
The unique NextGear Capital model enables dealers to buy stock on behalf of NextGear Capital that that they can retail straight away. The business provides an easy to use new funding line that is clearly supporting the desire of dealers to increase stocking levels and often to improve the quality of the stocking mix.
Commenting on the landmark event David Mercer, Managing Director proudly reflected; “The rate of growth has been phenomenal and we are on our planned lending trajectory. Great credit is due to our team and our remarketing partners who have helped make this happen, but above all to our dealer customers who in increasing numbers are buying into a fresh new way of funding the stock they need to grow their businesses.”
The £100M milestone was achieved with the funding of an Audi A3 S Line Special Edition at Aston Barclay by 2 Gen Motors Ltd. By way of thanks, Alex Shone from 2Gen Motors can be seen receiving a celebratory bottle of champagne.
Alex Shone, Director of 2Gen Motors and Account Executive, Dan Millward