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NextGear Capital funds more than £1bn of vehicles since 2014

Managing director NextGear Capital, David Mercer

NextGear Capital has funded more than £1 billion worth of vehicles since its launch in 2014.

The wholesale vehicle funding business provides Stocking Plans as either a complimentary or replacement source of funding to more than 1,200 Independent and Franchise dealers.

David Mercer (pictured), managing director of NextGear Capital, said: “Reaching this milestone in wholesale vehicle funding means our dealers have not had to outlay the sum of £1 billion of their own capital on stock, freeing it up to help enhance their businesses in other ways.

“Our business has seen exceptional growth over the past three years, progressing from funding just over 9,500 vehicles in 2014 worth a total of £63 million to 2017, where we expect to fund more than 100,000 vehicles.”

Dealers with a NextGear Capital Stocking Plan have 24/7 online access to their account via the StockMaster platform, which aggregates their stock, simplifying their buying process by providing the ability to view and fund pending vehicles won from participating auctions all in one place.

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