The executive team from NextGear Capital, the largest independent inventory finance company in North America, recently took part in the Ice Bucket Challenge to raise donations and awareness for amyotrophic lateral sclerosis (ALS), commonly known as Lou Gehrig’s disease. In addition to participating in the challenge, NextGear Capital, based in Carmel, Ind., also pledged $5,000 towards the ALS Foundation.
“At NextGear Capital, we believe in making a difference and giving back to others, whether that’s in our community or globally,” said Brian Geitner, president. “ALS has affected many across the world, and we want to do our part to help find a cure for this disease.”
This challenge, which has lit social media on fire, goes like this: People make a video of themselves dumping a bucket of ice water on their heads, post it on social media and either challenge friends to do the same within 24 hours or donate $100 to ALS.
Between June 1 and Aug. 13, more than 1.2 million videos have been shared on Facebook, while #IceBucketChallenge has been mentioned more than 2.2 million times on Twitter, according to both sites. Additionally, the ALS Foundation has received $15.6 million in donations between July 29 and Aug. 18, a 767% increase over last year.
The five NextGear Capital executives each called out three Cox Automotive executives to take part in the challenge as well in hopes of spreading the cause throughout the companies and raising even more money for ALS.
You can view the video of the NextGear Capital Ice Bucket Challenge here.
NextGear Capital, a leading independent inventory finance company, announced today that it has added the EDGE ASI Auction Operating System to its floorplanning integration with AuctionACCESS dealer credentialing services.
According to a press release, the integration will allow all auctions on the Edge ASI system to receive updated NextGear Capital credit availability and originate floorplan transactions through the AuctionACCESS platform.
“Innovative technology solutions have been the hallmark of NextGear Capital since day one,” said Brian Geitner, president of NextGear Capital. “This integration with EDGE ASI furthers our commitment to create and provide simplified solutions that help our customers grow and succeed.”
EDGE ASI auctions will now benefit from automated credit availability and floorplan loan processing with NextGear Capital. Facilitated by the AuctionACCESS platform, this integration will streamline the buying process for NextGear Capital dealers and enable them to floor their vehicles with NextGear Capital more quickly and efficiently, the company said.
“Many of our Edge ASI customers have a great working relationship with NextGear Capital and this integration just makes sense,” said Watson McClam, general manager of the Auction Edge ASI Division. “Auctions are already seeing benefits from more reliable availability figures and streamlined post-sale settlement.”
NextGear Capital, a leading provider of lending products for the automotive remarketing industry, has announced the creation of its Ambassador Program for its field representatives.
Through the program, the company will partner with industry experts to provide certified training modules to further develop its field representative’s dealership business and industry knowledge.
“We care about our dealer’s success and know that they want a partner that understands their business,” said NextGear Capital President Brian Geitner in a press release. “By furthering our educational platform with various industry experts, our field representatives will gain expert knowledge and become ambassadors to the industry, allowing us to continue fostering consultative relationships with our dealers to ensure they remain successful.”
As part of the Ambassador Program, NextGear Capital is providing dealer training through various state independent automotive dealer associations. The company is nearing the completion of its first Ambassador training module, which is based on the National Independent Automobile Dealers Association’s (NIADA) Certified Master Dealer program.
Developed in 2001, the NIADA’s Certified Master Dealer program helps dealers manage and grow their businesses with an emphasis on business planning, human resources, merchandising and financial management. Led by course instructor Joe Lescota, NIADA director of dealer development, all NextGear Capital field representatives obtained certification through Northwood University upon completion of the two-day course.
“NIADA and NextGear Capital share the belief that an educated dealer is a successful dealer. As such, we were naturally excited to work with the NextGear Capital leadership to evolve the NIADA Certified Master Dealer program with them,” said Steve Jordan, executive vice president of NIADA. “NextGear Capital is known for building high-touch, consultative relationships with auto dealers and we feel this ‘partnership in education’ will have enormous benefit to our dealers long-term.”
NextGear Capital announced a new floorplanning partnership with AuctionACCESS, an industry leader in “dealer credentialing services.”
According to a press release, the move comes on the heels of a credit line availability integration between the two companies, allowing auctions to quickly and efficiently originate floorplan transactions for their dealer customers.
“NextGear Capital is continually searching for ways to take our customers and their businesses to the next level. This integration reflects that commitment by simplifying the buying process at the auction,” said Pete Grupposo, vice president of operations and business development at NextGear Capital.
With more than 240 auctions currently using the AuctionACCESS system, dealers will benefit with simplified and quicker access to auction lanes, NextGear said. In addition, auctions will have access to the dealer’s credit availability, streamlining the buying process on their end and helping dealers to floor their vehicles more quickly.
“Auctions can now automate the entire floorplan process with NextGear Capital, creating significant benefits for auctions and dealers,” said Donna Dukes, vice president of AutoTec Customer Support. “We are excited to partner with NextGear Capital as we continue to create a more efficient platform for floor plan data.”
Carmel, Ind.-based NextGear Capital announced the release of new mobile and online account management applications for dealers to simplify management of their inventory finance accounts.
According to a press release, the floorplan finance company continues to build on its strong reputation as a technology leader and innovator with these easy-to-use online and mobile services.
“Our use of technology to simplify business has been a hallmark of our company from day one,” stated Chris Brady, chief information officer at NextGear Capital. “These latest innovations demonstrate our commitment to serve the needs of customers who desire a simple but solid solution to conduct business anywhere, at any time.”
The applications include new features along with a comprehensive dashboard that is easy to navigate and provides rapid access to account information through a user-friendly interface on both Android and Apple smartphones and tablets.
“Not only will these new applications make the process easier for our customers,” Brady continued, “but their complete, up-to-date account information can be quickly and easily accessed whenever they need it.”
In addition to floorplan management, the new applications allow every customer to securely view inventory, titles and pending transactions, submit new vehicle information for financing, make and schedule payments, and access account analytics. The cross-platform applications can be used on smartphones, tablets and desktop computers.
The new applications, which launched on Dec. 2, are available to download in the Apple App Store and Google Play by searching for “NextGear Capital.” Customers must first login to the online account management tool and answer the security questions before logging in on their mobile device.
For more information visit http://www.nextgearcapital.com/account_management/
NextGear Capital has secured exhibitor space at the Dec. 3-5 Recreation Vehicle Industry Association (RVIA) National RV Trade Show following the company’s September announcement that it was establishing a Diversified Products Division. According to a press release, the business unit provides inventory finance programs to a variety of industries, including recreation vehicles.
“We are very excited to exhibit NextGear Capital and its capabilities and offerings in Louisville,” said Frank Ford, vice president, Diversified Products. “While the NextGear Capital name may be new to many in the RV industry, the company has actually been involved in financing used recreational vehicles for many years. So, the natural next step was to expand into adjacent space, including new inventory finance.”
“Additionally, the leadership of the division, as well as the business development team we have assembled, has extensive experience in RV floor planning and working with both manufacturers and dealers to create value-added programs that will fuel growth.”
NextGear Capital said it “brings unique offerings to the industry to differentiate it from competitors.”
“Manufacturers are very excited about our online floor planning capabilities with next-day funding,” Ford stated. “And dealers may benefit from a deferred interest program designed to preserve cash flow by matching the payment of interest to the sale of inventory.”
NextGear Capital representatives will be available in Booth No. 841 at the Louisville Show. For additional information, visit nextgearcapital.com.