Nextgear Floor Plan Rates

Most floor plan providers keep an eagle eye on all accounts in search of red flags that alert them to issues with dealers.

Nextgear floor plan rates. Find out how nextgear capital dealers are tackling the challenges of today s market head on by properly utilizing their lines of credit. Pre sale nextgear issues second auto dealer floorplan transaction of 2019. Nsfs insufficient funds or nsfs are directly correlated to points 1 and 2 above. This is a unique feature that bases floor plan fees on purchase price not fixed or promotional terms.

Nextgear capital is offering you more ways to save than ever before with our tiered pricing program. Stay the away. Competitive rates flexible lines of credit innovative technology superior customer service. If this dealer s holding cost per day per unit is 44 63 and their turn time to sell a car is 60 days they will spend 2677 of their profit holding on.

Moody s investors service 03 oct 2019 pre sale report nextgear floorplan master owner trust series 2019 2. Nextgear capital ranks 155 of 1808 in financial services category. Let s say a dealer makes a profit of 3000 per car sold. Nextgear capital was first mentioned on pissedconsumer on jun 23 2015 and since then this brand received 63 reviews.

Nextgear floorplan master owner trust series 2019 2 deal v1 1 compared to dealer floorplan and other revolving commercial asset v3 0. However not all inventory finance companies offer retail and wholesale options. Floor plan finance options are commonly used within the automotive industry at both new and used dealerships. For this example a 10 000 unit would cost 2 70 per day on a dealer floor plan.

Nsf s collateral audits and turn times. That s why we created tiered pricing. While some lenders are unable to properly serve independent dealers nextgear capital has proudly served the independent dealer market for over ten years our floor plan financing options allow dealers to finance nearly any. With tiered pricing floor plan fees are based on a vehicle s purchase price which means our clients aren t paying the same flooring costs for a 2 000 unit as they would for a 12 000 unit.

There are three specific red flags that your floor plan company is watching for. In some cases lenders are unable to offer a floor plan financing solution that fits the needs of today s independent dealer. However not all inventory finance companies offer retail and dealership wholesale financing options. Recent recommendations regarding this business are as follows.

Title processing the third cost is a 18 title processing fee. These floor plan finance formulas incorporated with a dealer s turn time can help to make or break a dealership s profitability. At nextgear capital we take the stress out of title management. No two dealerships are exactly alike and their dealer floor plan rates shouldn t be either.

An example of a common floor plan might pay 27 cents per 1000 per day.