NextGear Capital UK has been recognised by the International Auto Finance Network (IAFN) as the Wholesale Funder of the Year at its industry awards at a packed industry event held in London on May 13th. A year after the business was launched, the award, voted for by a panel of senior business executives from across the finance and leasing sector, represents a ringing endorsement for the business' fresh approach to used vehicle stock funding.
The judges praised NextGear Capital's use of technology and its distinctive approach to used car inventory funding. It is something that has seen the business provide finance for over 500 dealers, lending them over £150,000,000 over the last year to meet the growing demand from dealers to increase the quality and quantity of their used car stock.
"A year on from our launch, this award and the recognition that it provides from our industry peers is a very strong affirmation for our service-led strategy. We aimed to bring something new to the market to help dealers to increase their stock levels,” reflected a very proud David Mercer, MD at NextGear Capital UK.
"The accessibility and flexibility of our approach enables dealers to get the stock they need where and when they want it. In today's increasingly digital remarketing environment, where buyers are sourcing stock UK wide, our approach gives them access to the funds they need at the click of not just a mouse, but the swipe of a smartphone as well. Our success shows just how rapidly dealers of all sizes are embracing new technologies to enhance their own performance. I'm very proud of our team for their efforts over the last year and above all to our customers and partners for their ongoing support."
