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
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
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 →