NextGear Capital reveal Manheim as first auction partner

Manheim are the first UK auction partner to sign up to NextGear Capital UK’s new Stocking Plan for used vehicle dealers.

The remarketing giant’s Leeds site sold the first-ever cars on the new plan to Stoke-on-Trent-based independent dealer Strongford Garage.

Dale Hodgkinson, Owner of Strongford Garage, purchased four used cars at Leeds using his NextGear Capital Stocking Plan – an Audi TT, a Volkswagen Beetle, an Audi A4 and a Seat Altea.

Mr Hodgkinson said: “The Stocking Plan is certainly going to help my business stock and sell more used cars.

“It gives me the freedom to run and grow my business without the worry of waiting for payment for sold cars before we can buy more stock.”

All of NextGear Capital’s automated processes performed well, with the transmission time for the purchases being processed in just a second.

NextGear Capital’s banking partner successfully facilitated an automated next day payment to Manheim for the four cars.

David Mercer, Managing Director of NextGear Capital UK, added: “We are pleased to welcome Manheim as our first auction partner and it was a great feeling to see the very first vehicles loaded onto our Stocking Plan.

“The cars went through our unique automated IT process in an instant, without a hitch.”