To help independent dealers free up cash flow and simplify their business operations, NextGear Capital is partnering with Ready Logistics to deliver a first-of-its-kind transportation financing solution. Now available nationwide, clients of both Cox Automotive brands can buy, floor and transport vehicles in one seamless transaction—and benefit from a deferred payment option that keeps transportation costs on hold until the vehicle is sold.
“The power of Cox Automotive is that we can work across our brands to develop solutions that help dealers streamline and grow their business,” said Randy Dohse, NextGear Capital senior vice president of operations. “Our goal is to make clients more profitable by increasing the speed and ease of buying and selling vehicles, and bringing transportation financing to independent dealers is a prime example of how we’re doing just that.”
Available to NextGear Capital clients who buy vehicles anywhere Ready Logistics services, this new offering delivers several benefits. Dealers can easily see transport costs associated with a vehicle and take advantage of a quick in-lane or online checkout. They only pay NextGear Capital for their financed vehicle and transportation purchase, simplifying the payment process.
“Not only does this process make our accounting easier, it saves me a considerable amount of working capital and creates the possibility to reinvest those dollars elsewhere in the business,” said Asif Aziz, owner of Reliance Motors.
Ready Logistics offers full-service, reliable transportation facilitated by a network of more than 6,500 insured and safety-rated carriers. Dealers can easily order transportation in-lane or via M.com and OVE, and automated alerts about post-sale activities fuel quick outbound carrier assignment and vehicle transportation.
“Ready Logistics has always made it easier for dealers to move a vehicle, and now we’ve further improved the process by cutting out a step,” added Patrick Brennan, senior vice president of logistics at Cox Automotive. “The end result is a simplified transaction that delivers two things clients value: more time back and better cash flow.”
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