nextgear Capital Enters Agreement With Carmax Auctions

man on car lot pointing out cars that used floor plan financing for used car dealersNextGear Capital has announced a new agreement with CarMax. The agreement with CarMax, the nation’s largest retailer of used vehicles, will allow dealers to use their NextGear Capital lines of credit at all 68 CarMax auction locations.

NextGear Capital floor plans are currently accepted at over 1,000 live and online auctions, and may be used with inventory sources such as trade-ins, off street purchases and loan payoffs. It is anticipated that NextGear Capital floor plans will be accepted at all CarMax auction locations as of August 8, 2016.

“We recognize CarMax as a company with high integrity and a reputation built on strong values and exceptional customer service. NextGear Capital shares these values and service-centric approach to business and is pleased to join efforts with CarMax in providing additional value to our dealers. We are committed to providing our dealers the tools necessary to be successful. The ability for dealers to utilize their NextGear Capital lines of credit at CarMax will enable greater access in sourcing inventory,” said Randy Dohse, senior vice president of sales and operations at NextGear Capital.