NextGear Enhances Account Management Platform
The floorplan financing provider has updated its Account Portal management platform with a new feature that allows dealers to opt into a recurring and automated payment system.
CARMEL, Ind. — NextGear Capital, a provider of inventory financing, announced the launch of AutoPay, a new feature within the company’s Account Portal management platform.
Account Portal provides detailed, real-time account overviews for dealers and auction partners, and includes a dashboard designed to show analytics and payment history on any device. The new AutoPay feature allows dealers to opt into a recurring and automated payment system that schedules NextGear Capital payments.
“As a result of our long-standing history of working with dealers, NextGear Capital has a deep understanding of what dealers value when it comes to accessing information on vehicles and financing,” said Sarah Lutey, NextGear Capital’s director of product strategy. “We brought this understanding to life through Account Portal and AutoPay, which puts the dealer front and center, making it easier for them to do business anywhere, at any time.”
Account Portal provides dealers with the flexibility of financing vehicles from a mobile device, searching financed vehicles by status and accessing account analytics. Other features include viewing lines of credit summary information for all NextGear Capital accounts and identifying information for a unit (from payment history to aging and total cost to floor). With the added option of AutoPay, dealers have even more flexibility when it comes to choosing how they want to manage their business without worrying about missing a payment, officials said.
More Auto Finance
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 →
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 →