Maybee Named President of NextGear Capital
Ten-year auto finance veteran Scott Maybee has been named president of NextGear Capital after serving as general manager of Manheim Northstar Minnesota.
ATLANTA — Scott Maybee has been named president of NextGear Capital (div. Cox Automotive), effective today. Maybee comes to NextGear from Manheim Northstar Minnesota, where he was general manager and responsible for all facets of the Minneapolis-based operation.
Prior to joining Manheim, Maybee spent 10 years with Nissan North America and Nissan Motor Acceptance Corporation, rising to vice president of sales operations for Nissan Canada Finance.
“At Manheim, Scott successfully established a culture of transparency and rigorous process management while positively impacting employee morale and driving aggressive organic business growth,” said Mark Bowser, executive vice president and CFO of Cox Automotive. “He and his team ultimately raised sales revenue, customer retention and operating margins.”
Dave Horan, who has served as acting president of NextGear Capital since July, will continue in his role as vice president of finance for the Carmel, Ind.-based company.
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →