CARMEL, Ind. — To streamline and speed up funding for eligible dealers purchasing vehicles through non-auction channels, NextGear Capital is announcing Rapid Pay, a new feature within Account Portal, NextGear Capital’s account management platform.
For eligible dealers who wish to floorplan non-auction inventory, such as dealer-to-dealer purchases or trade-ins, Rapid Pay expedites the process by accelerating funding, simplifying title management and giving dealers full visibility throughout the process — all within Account Portal — according to the company.
With Rapid Pay, non-auction purchases are given priority for reviewing and processing funding requests. This means dealers receive their funding faster and can view the status of funding requests in real time. Each non-auction unit floored through Rapid Pay is eligible for a pre-paid shipping waybill, allowing dealers to ship titles directly to NextGear Capital at no additional cost, all according to Sarah Lutey, NextGear’s director of product strategy.
“Dealers shouldn’t be limited by a cumbersome process to fund non-auction purchases with their line of credit,” Lutey said. “With Rapid Pay, we give dealers enhanced control of their floorplan and a simplified process to finance the inventory they need to grow their businesses.”