NextGear Capital Canada Launches Custom Finance Solutions for Franchisees

As part of its ongoing efforts to invest in digital inventory remarketing, Cox Automotive Canada‘s financial services brand, NextGear Capital Corporation — with its affiliates, the leading automotive wholesale financing company in the world for dealers — has launched a multi-channel funding portal to offer customers its custom point-of-sale inventory financing solutions.  This portal will be available through its digital auction partners, TradeHelper, Otolane and EBlock.

“Bringing together these three leading online auctions on a single funding portal is an industry-first in terms of offering our clients best in class mobile and digital technologies to aid in the vehicle purchasing process,” said Jerome Dwight, National Vice President, Canada, NextGear Capital Corporation. “Now clients will be able to view, bid and purchase vehicle inventory on any of these leading online auctions and seamlessly fund these purchases on their NextGear Capital credit accounts in a manner that is both convenient and secure.”

Noting that many online wholesale purchasers in Canada cannot efficiently fund their transactions with a single integrated credit provider, NextGear Capital and its digital auction partners are working together to enable their clients to fully finance their vehicles instantly across multiple channels.

In addition to being a destination for current NextGear Capital clients, digital auction partner clients will benefit in many ways:

  • Ease of use to purchase and finance inventory from leading digital auction providers in Canada
  • Safe and secure online funding for clients through NextGear Capital
  • Additional liquidity and buying power for clients
  • Greater access to a larger array of digital auction partner inventory
  • Faster online credit approvals with quicker speed to market
  • Custom tailored finance solutions designed for both franchise and independent dealers, wholesalers and exporters

About NextGear Capital Canada
NextGear Capital is a subsidiary of Cox Automotive and one of the world’s largest automotive inventory financing institutions.  NextGear Capital, together with its affiliates provides flexible lines of credit and capital solutions to over 22,000 dealer clients worldwide.  The Company offers state-of-the-art online and mobile account management tools, market-specific industry analytics, dealer performance data and collateral protection to its clients globally.  NextGear Capital Corporation is a Canadian company owned and operated by Cox Automotive Canada. For more information about NextGear Capital Canada, visit coxautoinc.ca/brand/nextgear-capital/
About Cox Automotive Canada
Cox Automotive is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. In Canada, the Cox Automotive family includes Dealer.com®, Dealertrack®, HomeNet®, Manheim®, NextGear Capital®, Ready Logistics®, RMS Automotive®, vAuto®, VinSolutions® & Xtime® and a host of other brands in other countries. The global company has 34,000 team members in more than 200 locations and is a partner to more than 40,000 auto dealers, as well as most major automobile manufacturers. Cox Automotive is a subsidiary of 119-year-old Cox Enterprises, Inc., which has revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive Canada, visit www.coxautoinc.ca.
NextGear Capital Canada Launches Custom Finance Solutions for Franchisees

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