NextGear Offers Expedited Funding Process
NextGear Capital has introduced ‘Rapid Pay,’ a new feature designed to help dealers initiate the vehicle funding process before the title is received.
CARMEL, Ind. — To save time and speed up the funding process for dealers purchasing vehicles through non-auction channels, NextGear Capital is introducing expedited funding on notice of title via “Rapid Pay,” a feature accessible through NextGear’s Account Portal and available on any mobile device, the company announced.
Billed as an industry first, Rapid Pay’s expedited funding feature was designed to allow dealers to initiate financing on vehicles purchased from wholesalers, customer trade-ins, and owned inventory, once notice of title is given. Dealers get paid faster through this process, as all Rapid Pay transactions get priority review servicing — in many cases the same day that the request is received, according to the provider. This replaces the traditional practice of having to secure a physical title before funding is processed.
The entire transaction is conducted via Account Portal and Rapid Pay. This means eligible dealers can manage the non-auction funding process when and where it’s most convenient for them and can monitor the status of their funding requests in real time, executives said, and every Rapid Pay transaction includes a free, prepaid shipping label for vehicle titles saving dealers time from physically traveling to a local lender to manage titles and funding.
“Removing barriers from the non-auction buying process is key,” said Randy Dohse, NextGear Capital’s senior vice president of operations. “Freeing up valuable cash flow is an essential part of any business, and as a company, we are committed to getting dealers funded faster than anyone else in the industry.”
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 →