Dealer Floor Planning FAQs

Frequently Asked Questions

USING YOUR FLOOR PLAN

Q. Where can I use my line of credit?
A. Your account is automatically set up to make auction purchases across our Universal Source Network, consisting of more than 1,000 auctions. You can find these locations using our auction finder.

Q. Can I use my line of credit outside your Universal Source Network?
A. Yes, on qualified accounts. If you would like to purchase units from outside our network, please contact your local Account Executive to get set up for non-auction purchases.

Q. Can I use my floor plan to finance trade-ins and non-auction purchases?
A. Yes, on qualified accounts. Please confirm eligibility with your NextGear Capital representative.

TITLES

Q. Does NextGear Capital handle title work?
A. NextGear Capital can process state work on full titles for the following states: AZ, CA, FL, GA, IL, IN, MI, MO, MT, NC, OH, OK, PA, SC, SD, TN, UT, WV and WI.

Q. Where can I see my title images?
A. Titles with watermark can be viewed via your Account Portal by selecting the “Floor Plan” tab.

Q. Can I request a title be sent to me or to an auction prior to a unit selling?
A. Yes. You may borrow a title for funding purposes using the Title Release Program found in your Account Portal. However, if you require a title for state, salvage or lien work, you will need to contact Client Services at 888.969.3721.

CONSUMER LOAN PAYOFF PROGRAM

Q. I took a vehicle on trade that has an outstanding loan. Can I use my floor plan to pay it off?
A. NextGear Capital is able to pay off consumer loans for qualifying accounts under our Consumer Loan Payoff Program. Please confirm eligibility with a NextGear Capital representative.

Q. How long do I have to submit my request for a consumer loan to be paid off?
A. NextGear Capital must receive Consumer Loan Payoff requests within 30 days of purchase.

AUDITING

Q. How can I determine what is left on my audit to clear?
A. Login to your NextGear Capital account via your Account Portal to locate details on any outstanding audits.

Q. Where is the word of the day located?
A. The word of the day can be found at the top of the home page on NextGear Capital’s website.

MISCELLANEOUS

Q. Am I required to have physical damage insurance on my units?
A. Yes. If you are not participating in NextGear Capital’s Collateral Protection Program, you must submit evidence of 66% credit line coverage, with NextGear Capital listed as Loss Payee.

Q. What if I have a question not covered here?
A. We’re here to help. Contact your local NextGear Capital representative or our Customer Service Center at 888.969.3721.