News

Manheim stake in Go Financial gives dealers more options for subprime consumer finance

July 15, 2014

NextGear Capital customers who want easier and faster sales financing for subprime customers will have it, as a result of Manheim signing an agreement to purchase an equity stake in Go Financial, a subprime auto finance company.This deal creates a unique opportunity for Manheim to invest in a growing subprime auto finance segment – independent dealers who want to take greater control over the financing options they offer their retail customers. Go Financial is owned by DriveTime Chairman Ernie Garcia and DriveTime President and CEO Ray Fidel. Go Financial will operate independently from Manheim and DriveTime. Headquartered in Phoenix, Go Financial employs a staff of 175.

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New “Ambassador Program” Offers Certified Training For NextGear Capital Dealers and Representatives

July 1, 2014

NextGear Capital has announced the creation of its Ambassador Program for its field representatives. Through this program, the company will partner with industry experts to provide certified training modules to further develop its field representative’s dealership business and industry knowledge.“We care about our dealer’s success and know that they want a partner that understands their business,” said NextGear Capital President Brian Geitner. “By furthering our educational platform with various industry experts, our field representatives will gain expert knowledge and become ambassadors to the industry, allowing us to continue fostering consultative relationships with our dealers to ensure they remain successful.”

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Testimonial: Alex Perez, A+ Auto Sales

June 30, 2014

“Everything is on the website. I can keep track on their website, or the app 24/7. I can request a title and...

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Good Floor Plan Lender Relationships Are Key To Dealers Wanting To Grow Their Businesses

June 15, 2014

In all aspects of life, we build and nurture relationships. Whether it is with our spouses, friends, or co-workers, developing a strong relationship is paramount. This holds true for dealers too, who strive to find a floor plan lender that they can trust and with whom they can have a long and prosperous business relationship.

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Testimonial: Rob Mancuso, Mancuso Motorsports

May 30, 2014

“NextGear Capital is really unique among floor plan providers in a number of ways. Number one, would be the people. We work...

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Testimonio: Rob Mancuso, Mancuso Motorsports

May 30, 2014

“NextGear Capital es verdaderamente único entre los proveedores de planes de piso de diferentes maneras. Número uno, la gente Trabajamos muy de...

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NextGear Capital Expands Floor Plan Solutions Offering to Marine Industry

May 29, 2014

NextGear Capital has announced its expansion into the Marine industry through its Diversified Products division. With this expansion, the company will look to establish itself as a leading provider of floor plan solutions to the industry.“We are very pleased to announce our entrance into the Marine industry, where there remains a shortage of available capital to provide adequate floor plan solutions for both manufacturers and dealers,” stated Frank Ford, Vice President of Diversified Products with NextGear Capital.

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Testimonial: Rob Martinez, ABQ Auto Deals

April 30, 2014

“Any time that we need support our local rep has been fantastic at supporting us at anything we need. As our business...

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BHPH Dealers Compliance Regulations in the Spotlight

April 28, 2014

At the recent NABD Conference and seminar, one of the key messages communicated was the importance of providing additional and necessary training to Buy Here Pay Here (BHPH) dealers across the country due to a change in regulatory environment. For many BHPH dealers, they have taken it upon themselves to put their own money on the street when they are unable to get a consumer financed.

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Making a Floor Plan Work for You

February 14, 2014

By Karen Millwood, Account ExecutiveThe ever-changing auto remarketing industry has seen more changes in recent years than ever before. Today more than ever, having a floor plan partner is very important to the small business owners’ vitality. If you are looking to grow an existing business, or beginning the journey of business ownership, it is important to have a good inventory finance partner to assist in expanding or getting your new business off the ground. A floor plan can ensure you have fluid cash flow, a variety of inventory to increase your consumer base, and can make buying inventory a simpler process.Why a Floor Plan Company? There are several things you should know and take into consideration when choosing a business partner in inventory finance. An inventory finance plan, known as a “floor plan,” can increase your cash flow. A floor plan gives you the option and the freedom to use your money where it is needed most, instead of being tied up in inventory on your lot. It provides the flexibility to purchase a variety of inventory that can drive more consumers to your lot.

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