FIRST GEAR
Jumpstart your business with accessible credit
First Gear is a financing plan built for independent dealers who’ve been in business for 12 months or less. Access all the benefits of a NextGear Capital floor plan, without having to submit the standard paperwork at application. Where others say no, we say yes!
Metro Area Auto Sales
Introductory Line of Credit
Your introductory line of credit is tailored to your business.
Minimal Upfront Paperwork
Access an introductory line of credit without submitting the bank statements or records other programs require. 1
Flexible As You Grow
Your credit can be adjusted as your dealership grows, allowing you to invest in more inventory or other areas of your business.
Built for First-Time Dealers
We’ll work with you every step of the way, answering your questions to help get your new dealership off the ground.
Personalized Support
Your Portfolio Manager will help tailor your plan and provide individualized support for your new dealership.
Inventory From Anywhere
Diversify your selection and attract more customers with easy sourcing from auctions, trade-ins, and much more.2
FAQs
First Gear is a floor plan financing program designed specifically for new independent auto dealers. It provides early access to capital to help dealers purchase inventory and grow their business.
Eligible accounts can enable self-audits right from their account portal! Follow the instructions here to enable self-audits. Contact Customer Service if you have difficulty enabling self-audits in your account portal.
Self-audits are to be completed within 48 hours of notice issued by NextGear Capital. On-site audits are to be completed during the auditor’s visit.
Our verification process lets you easily verify any units that were not present during an audit or not completed successfully. Sign in to the NextGear Capital mobile app, navigate to the Audits tile and select Unverified Vehicle to initiate the verification process. Select an unverified vehicle listed, and follow the prompts to verify with photos of the vehicle. Repeat for each unverified vehicle listed. Audits need to be verified promptly to avoid additional fees.
Any vehicles that remain unverified following the audit must be verified promptly. Additional fees may accrue if unverified vehicles are not verified by day 7.2 A maturity event will be declared on that unit if the audit is not verified before day 15.
Do you need more financial flexibility? Check out Flex Pricing.
1All rights reserved. Certain conditions apply. First Gear is available only for dealers who have been in the automotive business for 12 consecutive calendar months or less. Eligibility is in NextGear Capital’s sole discretion. All advances are subject to the terms and conditions of your Demand Promissory Note and Loan and Security Agreement and other Loan Documents with NextGear Capital. An initial, introductory line of credit in the amount of the greater of $50,000 or the minimum allowed by law in dealer’s state without submitting bank statements or records. NextGear Capital reserves the right to modify or terminate this offer, without notice and at any time. For complete details, terms and conditions, please see your local NextGear Capital representative. Notwithstanding anything herein to the contrary, First Gear is not available to New York, North Dakota, South Dakota or Rhode Island dealers. All advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.
2Certain conditions apply. To finance trade-ins, you must be set up for non-purchase money financing.
See how you can power your dealership today
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