NextGear Capital
NextGear Capital is the automotive industry's largest independent inventory finance company, providing flexible floor plan financing and digital account management tools to over 21,000 independent auto dealers across North America, the UK, and Ireland.
- Company typePrivate
- Founded1993
- HeadquartersCarmel, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
What NextGear Capital does
NextGear Capital is the automotive industry's largest independent inventory finance company, providing floor plan financing to independent auto dealers across North America, the United Kingdom, and Ireland. Founded in 1993 and headquartered in Carmel, Indiana, the company extends customized lines of credit that dealers use to purchase vehicle inventory at auctions and other wholesale sources, serving a stated base of 17,000 to 21,000 dealers. It operates as a wholly-owned subsidiary of Cox Automotive, Inc., and is part of Cox Enterprises' broader portfolio of 25+ automotive brands.
The company's core offering is a cloud-based floor plan financing platform with multiple credit structures: standard Floor Planning, Flex Pricing (deferred payments on interest, fees, and principal), and First Gear (introductory credit for new dealers). These products are managed through the Account Portal—a digital gateway providing real-time inventory, title, payment, and audit management—supported by a native iOS/Android mobile application launched in June 2023. The mobile app incorporates a vAuto-powered VIN scanner, push notifications, and self-audit capabilities, and reached 55% dealer adoption within six months of launch. The platform integrates with more than 1,000 in-lane and online auctions across North America, with automatic inventory and cash-flow updates when dealers purchase from Manheim, and ties into the broader Cox Automotive ecosystem through Bridge ID Single Sign-On.
NextGear Capital generates revenue primarily through interest charges on outstanding floor plan balances and through transaction fees associated with credit facilities, title services, and the Lienholder Loan Payoff Program. The company has demonstrated significant lending capacity, having facilitated $17B+ in cumulative loans and renewed a $1.1 billion securitization alongside a $500 million bond offering in December 2022. Dedicated portfolio managers provide personalized relationship support, supplemented by self-serve digital channels including an online application portal and 24/7 Account Portal access. The business model is structurally tied to the volume of used-vehicle inventory that flows through the Cox Automotive auction and dealer ecosystem, with a granular long-tail customer base of independent SMB dealers.
NextGear Capital firmographics
Firmographics- Name
- NextGear Capital
- Legal name
- NextGear Capital, Inc.
- Website
- https://nextgearcapital.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- NextGear Capital is the automotive industry's largest independent inventory finance company, providing flexible floor plan financing and digital account management tools to over 21,000 independent auto dealers across North America, the UK, and Ireland.
- Ownership category
- akta.pro rank
NextGear Capital industry classification
Industry- Product category
- Floor Plan Financing / Inventory Finance
- NAICS
- Sales Financing (52222)
- SIC
- Finance Lessors (6172), Asset-Backed Securities (6189)
- akta.pro primary industry
- Dealer Floorplan & Inventory Financing (FSAKADAD)
- akta.pro secondary industry
- Senior Secured Direct Lending (FSANADAA)
Keywords
Where NextGear Capital is headquartered
LocationHeadquarters
- HQ city
- Carmel
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
NextGear Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Floor Plan Financing Interest: NextGear Capital extends lines of credit to independent auto dealers for purchasing vehicle inventory. Revenue is generated through interest charges on the outstanding balance of floor plan loans. Dealers are charged fees when vehicles remain unsold beyond contractual periods. Interest and fees accrue as dealers hold inventory on their floor plan.
- Credit Lines and Facility Fees: Dealers receive credit lines customized to their business needs and goals. The company earns revenue through the interest and fees associated with these credit facilities, including charges for extending payment terms or modifying loan structures.
- Title Services and Administrative Fees: NextGear Capital provides title management services, including title tracking, release processing, and the Lienholder Loan Payoff Program. Fees are associated with these ancillary services supporting the floor plan financing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Floor Planning - Standard line of credit for inventory acquisition |
| Usage-based | Monthly | Flex Pricing - Deferred payment floor plan |
| Usage-based | Monthly | First Gear - Introductory line for new dealers |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
NextGear Capital product offering
Product offeringCore offering
NextGear Capital provides floor plan financing (lines of credit) to independent auto dealers, enabling them to purchase vehicle inventory from auctions and other sources without tying up cash. The company extends customized credit lines, manages title tracking, and offers supporting programs (Flex Pricing deferred payments, First Gear for new dealers, Lienholder Loan Payoff for trade-ins) all delivered through an integrated Account Portal platform and mobile application.
Product overview
NextGear Capital is the automotive industry's largest independent inventory finance company, providing a comprehensive floor planning platform with multiple product tiers and digital tools. The core offering centers on Floor Planning (flexible lines of credit for inventory acquisition), supplemented by specialized programs like Flex Pricing (deferred payment option) and First Gear (starter program for new dealers). All products are managed through the Account Portal platform, which provides integrated tools for title management, self-audit reconciliation, and real-time reporting. The company also offers a dedicated mobile app as a companion to Account Portal. Services include title services, collateral protection, and a Lienholder Loan Payoff Program for trade-ins with existing liens.
Differentiator
Problem solved
Functional benefit
Brands
- Account Portal: Online account management platform providing real-time information on floor plans, titles, audits, and dealer account management.
- Flex Pricing
- First Gear
- Lienholder Loan Payoff Program
- Self Reconciliation
Products and services
- Floor Planning Primary floor plan financing service providing flexible lines of credit for independent auto dealers to purchase new and used inventory at auctions and other inventory sources throughout North America. Allows dealers to floor nearly any type of remarketed unit including retail, wholesale, salvage, and specialty vehicles.
- Flex Pricing
Quantifiable outcome
- 55% adoption rate for mobile app within first six months of launch
- +6 more outcomes
Companies that use NextGear Capital
Customer profileNamed customers22 records
Segments3 records
Ideal customer profiles3 records
NextGear Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature7 records
NextGear Capital partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and supporting.
- Cox AutomotivecoreNextGear Capital is a wholly-owned subsidiary of Cox Automotive, Inc. This parent company relationship provides strategic alignment with Cox Automotive's portfolio of automotive solutions including Autotrader, Manheim, vAuto, Dealertrack, Dealer.com, VinSolutions, and Xtime. The partnership enables integrated product offerings, shared technology infrastructure (Bridge ID SSO), and access to the broader Cox Automotive dealer network.
- ManheimcoreManheim is a leading auto auction company owned by Cox Automotive. NextGear Capital floor plans are automatically updated when dealers purchase from Manheim. The integration allows dealers to view inventory and available cash flow in real-time, with titles automatically available in Account Portal. NextGear Capital and Manheim co-host events for independent dealers.
- vAutocorevAuto provides inventory insights and market data integrated with NextGear Capital services. The mobile app's VIN scanner uses vAuto's best-in-class technology for vehicle valuations. Dealers gain access to real-time market data to make informed inventory purchasing decisions.
- DealertracksupportingDealertrack provides digital management solutions and F&I (Finance & Insurance) products integrated with NextGear Capital's offerings. Dealers can access Dealertrack digital contracting and other solutions as part of the Cox Automotive ecosystem.
- Dealer.comsupportingDealer.com website services are available to NextGear Capital dealers as part of the Cox Automotive ecosystem, providing personalized car shopping experiences and digital marketing services.
- Ready LogisticssupportingReady Logistics is a transportation provider that NextGear Capital dealers can use for inventory logistics. Dealers can use their NextGear Capital floor plan to cover Ready Logistics transportation fees, streamlining the purchasing process.
- OVE (Online Vehicle Exchange)supportingOVE is a Manheim-owned platform that NextGear Capital dealers use to move aging inventory. Portfolio managers connect dealers with OVE when inventory reaches certain days on floor plan, helping dealers move vehicles more quickly.
- VinSolutionssupportingVinSolutions dealer management solutions are part of the Cox Automotive ecosystem accessible to NextGear Capital dealers, providing CRM and inventory management tools.
- XtimesupportingXtime service scheduling solutions are part of the Cox Automotive ecosystem accessible to NextGear Capital dealers for integrated dealer management.
- AutotradersupportingAutotrader marketplace is part of the Cox Automotive ecosystem, providing inventory listing and customer acquisition opportunities for NextGear Capital dealers.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
NextGear Capital competitors and assessment
Company assessmentMarket position
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
NextGear Capital social profiles
Digital presenceNextGear Capital compliance and trust
Trust signalCompliance1 record
NextGear Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
NextGear Capital leadership team
Management profileNumber of profiles
Profiles3 records
NextGear Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NextGear Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NextGear Capital
What does NextGear Capital do?
NextGear Capital provides floor plan financing (lines of credit) to independent auto dealers, enabling them to purchase vehicle inventory from auctions and other sources without tying up cash. The company extends customized credit lines, manages title tracking, and offers supporting programs (Flex Pricing deferred payments, First Gear for new dealers, Lienholder Loan Payoff for trade-ins) all delivered through an integrated Account Portal platform and mobile application.
Is NextGear Capital a public or private company?
NextGear Capital is a private company. It is classified as corporate owned and is currently operating.
When was NextGear Capital founded?
NextGear Capital was founded in 1993. It employs 5,001 to 10,000 people.
Where is NextGear Capital based?
NextGear Capital is headquartered in Carmel, United States, in the North America region.
How does NextGear Capital make money?
Three revenue lines are on record. Floor Plan Financing Interest is the primary driver. The others are credit Lines and Facility Fees and title Services and Administrative Fees.
Does NextGear Capital have an API?
No public API is recorded for NextGear Capital.
What industry is NextGear Capital in?
NextGear Capital's product category is Floor Plan Financing / Inventory Finance. Its primary akta.pro industry code is FSAKADAD, Dealer Floorplan & Inventory Financing, with a secondary code of FSANADAA, Senior Secured Direct Lending. Its NAICS code is 52222 and its SIC code is 6172.