NextGear Capital appoint SVA as independent auction partner

Thursday, June 19, 2014 - 13:00
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FIRST: Deal is a landmark one for NextGear Capital

Shoreham Vehicle Auctions (SVA) are the first independent auction company to sign up to the new NextGear Capital Vehicle Stocking Plan.

SVA claim the plan will transform the way used vehicle dealers buy and manage their stock and in turn will help the auction sell more cars.

As an official partner, SVA’s auction system will automatically add vehicles to the dealer’s Stocking Plan when they elect to pay using NextGear Capital.

This means that the transaction is processed in an instant at the push of a button by the cash office.

The dealer can then view their stock holding online 24/7 via NextGear Capital’s Stocking Plan system.

NextGear Capital’s systems automatically process the purchase and the auction partner is paid directly for the vehicle.

Alex Wright, Managing Director of SVA, said: “As soon as we sat down with the NextGear Capital team and understood their vehicle stocking proposition we immediately signed up to it.

“We have already launched the scheme to buyers at a couple of recent sales and the reaction has been very positive.

“The scheme’s ability to free up their working capital to buy, stock and sell more used vehicles is their main reason for becoming a NextGear Capital customer.

“A number of buyers have already signed up and are genuinely excited about the new plan.”

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