NextGear Capital, the wholesale funding provider, has made a number of changes to its Stocking Plan product to further support its customers.
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 Darren Mornin comments: “It’s important we regularly review how we work and consider ways in which we can help our customers get the best from their Stocking Plan, and these latest changes have been implemented to do just that. We think they help give dealers more choice, more value and even greater flexibility.”
NextGear Capital, which is part of Cox Automotive, provides independent and franchised dealers with a smart way to buy the stock they want from the sources they choose. Customers are able to fund 100% of the wholesale vehicle price plus auction and transportation fees at, over 70 auction and wholesale sources or alternatively can load trade sourced vehicles. It supports over 1,700 dealers in the UK and Ireland and to date has funded over £5bn worth of vehicles.