Manheim NextGear capital to operate in UK
Global vehicle remarketing services company Manheim, has announced the launch of NextGear Capital UK, a new vehicle stock funding programme to support UK independent dealers in growing their business.
NextGear Capital is based in Chester and set to employ 42 at the outset, but expects to significantly grow its employee numbers later. NextGear Capital UK will operate alongside Manheim and is allocating hundreds of millions of pounds to support independent dealers in the UK, targeting 100,000 vehicles funded during its first full year's trading. The programme will enable dealers to source vehicles without utilising their personal financial resources, giving them the opportunity to offer the vehicle for sale on their forecourt. Dealers will continue to visit auctions and online sales channels to bid for and buy stock as they would normally, with NextGear Capital funding the vehicle purchases directly to the auction or online sales channel. NextGear Capital already operates in North America.