The power of Cox Automotive is that we can work across our brands to develop solutions that help dealers streamline and grow their business -- Randy Dohse, NextGear Capital senior vice president of operations
CARMEL, IN AND GILBERT, AZ – To help independent dealers free up cash flow and simplify their business operations, NextGear Capital is partnering with Ready Logistics to deliver a first-of-its-kind transportation financing solution. Now available nationwide, clients of both Cox Automotive brands can buy, floor and transport vehicles in one seamless transaction—and benefit from a deferred payment option that keeps transportation costs on hold until the vehicle is sold.
“The power of Cox Automotive is that we can work across our brands to develop solutions that help dealers streamline and grow their business,” said Randy Dohse, NextGear Capital senior vice president of operations. “Our goal is to make clients more profitable by increasing the speed and ease of buying and selling vehicles, and bringing transportation financing to independent dealers is a prime example of how we’re doing just that.”
Available to NextGear Capital clients who buy vehicles anywhere Ready Logistics services, this new offering delivers several benefits. Dealers can easily see transport costs associated with a vehicle and take advantage of a quick in-lane or online checkout. They only pay NextGear Capital for their financed vehicle and transportation purchase, simplifying the payment process.
“Not only does this process make our accounting easier, it saves me a considerable amount of working capital and creates the possibility to reinvest those dollars elsewhere in the business,” said Asif Aziz, owner of Reliance Motors.
Ready Logistics offers full-service, reliable transportation facilitated by a network of more than 6,500 insured and safety-rated carriers. Dealers can easily order transportation in-lane or via M.com and OVE, and automated alerts about post-sale activities fuel quick outbound carrier assignment and vehicle transportation.
“Ready Logistics has always made it easier for dealers to move a vehicle, and now we’ve further improved the process by cutting out a step,” added Patrick Brennan, senior vice president of logistics at Cox Automotive. “The end result is a simplified transaction that delivers two things clients value: more time back and better cash flow.”
About NextGear Capital
NextGear Capital is the largest independent inventory finance company in North America, providing flexible lines of credit for dealers to purchase new and used inventory at over 1,000 auto and specialty auctions and other inventory sources throughout the United States, Canada, United Kingdom and Ireland. The company’s products and services allow dealers to floor plan nearly any type of remarketed unit in automotive retail, wholesale, salvage or specialty, including recreational vehicles and trailers, marine, power sports, used heavy trucks, auto salvage and auto daily rentals. With a customer base of more than 20,000 dealers, NextGear Capital also provides a robust array of services and support that allow dealers to acquire and sell more inventory, including state-of-the-art online and mobile account management tools, title services, records management and collateral protection. The company is headquartered in Carmel, Indiana and is part of the Cox Automotive group of companies, which includes Autotrader, Kelley Blue Book, Manheim and vAuto. Visit nextgearcapital.com to learn more.
About Ready Logistics
Ready Logistics simplifies automotive logistics for dealers, auctions, commercial clients and car owners nationwide. Leveraging innovative technology, enhanced processes and a network of more than 6,500 carriers, the full-service logistics provider moves vehicles quickly and conveniently from anywhere to everywhere. Headquartered in Gilbert, AZ, Ready Logistics is a Cox Automotive™ brand that creates efficiencies for its clients through strategic partnerships in the financial and assurance sectors. For more information about Ready Logistics, visit www.readylogistics.com.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 33,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
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