Sometimes the inventory your dealership has doesn’t always meet local market needs. In addition, sometimes the vehicles your market wants aren’t available at auction. Perhaps you’ve found vehicles with the exact combination of amenities and mileage that will quickly sell off of your lot with a wholesaler or from a dealer within your local dealer network. You don’t want to purchase the vehicle in cash, and you would prefer to use your floor plan line of credit. Rapid Pay, a feature within Account Portal, is built specifically to handle non-auction purchases—like a dealer-to-dealer purchase or a rollover from another lender—and gives you and your dealership a number of benefits that improves the non-auction purchase funding process.
Get Funding for Non-Auction Units Faster
Rapid Pay units are given priority for review and processing of funding requests. This means dealers are given required funds for non-auction purchases quickly. In addition, this feature allows dealers to request the full purchase price of a vehicle for funding without having to contact your local representative. Once the request is approved, money will be deposited via ACH to your dealership account.
Simple Title Management
Dealers don’t have to wait to send non-auction titles to NextGear Capital. With each non-auction unit floored through Rapid Pay, dealers can send titles directly to NextGear Capital with the help of a pre-paid FedEx waybill. This process makes it simple for dealers to get funding, and to quickly get vehicle titles where they need to go.
Once a non-auction unit funding request is submitted through Rapid Pay, dealers can immediately view the status of that request.
Have a vehicle from a wholesaler you want to floor plan? A unit from a dealer in your local network? Use Rapid Pay to get funding quickly and easily. Don’t know how to use Rapid Pay? Learn here.