NextGear to finance car dealers buying stock as market grows

NextGear to finance car dealers buying stock as market grows

NextGear Capital, a fast-growing provider of inventory financing to car dealers, is targeting striking deals with up to 25 per cent of franchise car dealers within three years.

The US-based subsidiary of Cox Automotive Group last week said it plans to fund between 5,000 and 7,500 used vehicles in Ireland in 2016. It’s also targeting 50 independent dealers.

It is already processing €10 million in financial applications from dealers. In three years, it believes it can reach turnover of €250 million.

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