NextGear Capital UK has announced the Manheim Group as the first UK auction partner to sign up to its new Stocking Plan for used vehicle dealers.
Manheim Leeds made history by selling the first ever cars on the new Plan to Stoke-on-Trent-based independent dealer Strongford Garage.
Dale Hodgkinson, the owner of Strongford Garage, purchased four used cars at Leeds using his NextGear Capital Stocking Plan – an Audi TT, a VW Beetle, an Audi A4 and a SEAT Altea.
“The Stocking Plan is certainly going to help my business stock and sell more used cars,” said Dale Hodgkinson from Strongford Garage. “It gives me the freedom to run and grow my business without the worry of waiting for payment for sold cars before we can buy more stock,” he added.
All of NextGear Capital’s automated processes performed well, with the transmission time for the purchases being processed in just a second. NextGear Capital’s banking partner successfully facilitated an automated next day payment to Manheim for the four cars.
All the Manheim sites are being rolled out over the coming weeks as NextGear Capital starts delivering against its target of funding 100,000 used vehicles for dealers over the next 12 months.
“Manheim has been talking to buyers about the new Stocking Plan for a few weeks and the response has been very positive. We are pleased to be appointed as NextGear Capital’s first auction partner and look forward to selling more cars to more dealers,” said Manheim Leeds general manager Sean Parnham.
“We are pleased to welcome Manheim as our first auction partner and it was a great feeling to see the very first vehicles loaded onto our Stocking Plan. The cars went through our unique automated IT process in an instant, without a hitch,” explained David Mercer, NextGear Capital UK’s managing director
15 May 2014
