Headlines:
16 out of a sold entry of 139 vehicles purchased via NextGear’s Stocking Plan
Currently 12% of the £40m vehicles funded by NextGear are light commercials
Buyers claim to improve the quality of their stock through the Stocking Plan
NextGear Capital celebrated a major success at a recent Shoreham Vehicle Auctions vans auction where its wholesale Stocking Plan was used to buy 16 vehicles out of a total sold entry of 139 light commercials.
Four NextGear Capital southern based dealers purchased a variety of vans offered by Lex Autolease at Shoreham’s fortnightly commercials sale accounting for 11% of vehicles sold on the day.
Currently 12% of the £40m of vehicles funded by NextGear Capital in its first six months have been light commercials which will continue to grow as it builds its buyer base and auction partner network.
NextGear Capital announced its partnership with Shoreham in the summer. The scheme enables buyers to purchase vehicles at the Shoreham auction whose cash office then automatically adds them to their online NextGear Stocking Plan within seconds.
The NextGear systems automatically upload the purchase onto the buyer’s account and the auction partner is paid directly for the vehicle. The entire process is paperless and takes a few seconds.
Shoreham’s commercial vehicle manager Tim Spencer said: “The NextGear scheme benefits the buyer in that it frees up their working capital to buy and sell more stock. Buyers I speak to also say they have been able to improve the quality of their stock which in turn sells quickly.
“The majority of the UK’s used dealers run independently from the major manufacturers so having a scheme which helps free up working capital to grow their business is a major benefit, especially as the demand for used LCVs remains very strong,” he added.
Nigel Warrington, sales director at NextGear Capital said: “The interest in our Stocking Plan from the light commercial sector continues to grow and we are looking at how we can further tailor our services to the needs of the LCV buyer.”
