Having the right inventory, running effective promotions and pricing your vehicles competitively are all necessary components of running a successful dealership. Another aspect that often gets overlooked is finding the best method to manage your accounts. When you’re handling a large inventory of vehicles, it can be difficult to know when payments are due back to the lender and which accounts you’re using to make those payments. If not managed correctly, it can quickly become an overwhelming and frustrating process.
That’s why NextGear Capital has created its Bank Account Management solution inside Account Portal. This account management feature enables dealers to oversee all their accounts in one convenient location. Features offered include adding or updating bank account information, setting up a primary account that serves as the default for deposits or payments, and a list of all active bank accounts, along with the ability to mark old accounts as inactive.
Dealers also have the option of enrolling in AutoPay which eliminates the need for them to have to manually manage their payments or keep track of payment due dates. Missing payments can quickly eat away at profits if late fees are accruing so using AutoPay can help save money and keep you on budget.
Managing payments or updating account information shouldn’t take away the time you need to focus on the day-to-day duties that are required to run a successful car lot. With Account Portal’s bank account management feature, you can rest assured that you’ll be able to easily manage all your accounts in one convenient place, giving you more time to focus on selling vehicles and finding the best staff to help you become the top dealership in your area.
Check out our video tutorial on the bank account management system inside of Account Portal and start getting MORE out of your floor plan today!
Bank Account Management easy as 1-2-3!
Adding or updating information in Account Portal can be done by simply navigating to My Account and selecting Account Management from the dropdown menu. At the top of the screen under Financial Accounts, click on the blue add account button where you will be asked to enter the following information:
Confirm Account Number
Not a NextGear Capital dealer? Contact us today at 888.969.3721 to get started.
*Certain conditions apply. All rights reserved. Subject to the terms of dealer’s Demand Promissory Note and Loan and Security Agreement with NextGear Capital. Certain valuation information is licensed from and provided by third parties as denoted. Advances made in California are subject to NextGear Capital’s California Finance Lender License, #603G505.