NextGear Capital, alongside vAuto and Upside Direct, have teamed up to help alleviate vehicle inventory pressures and enable independent dealers to get the vehicles they need, Cox Automotive announced Dec. 5.
“At NextGear Capital, we are dedicated to going beyond providing clients access to capital to fuel their success,” said Scott Maybee, president of NextGear Capital, in a news release. “That’s why it was important for us to partner across the Cox Automotive ecosystem to ensure that our clients have the tools they need to make smarter, more informed and more confident inventory decisions.”
NextGear Capital and vAuto have extended the offer that gives NextGear Capital clients 50% off the regular Stockwave subscription price for their first four months when they sign up as new Stockwave customers. Numerous NextGear Capital clients have already taken advantage of this offer and experienced how Stockwave enables them to access vehicles from 300+ marketplaces alongside the most complete set of wholesale and retail data. Clients can now sign up with this offer through the end of 2022. NextGear Capital clients can learn more by contacting their representatives for complete details.
Conner Nix, owner of Florida Cars in Fort Wayne, Indiana, signed up for Stockwave as a part of the promotion and had this to say about his experience so far: “We signed up for Stockwave in August because we had been finding it very time consuming and difficult to find quality inventory up to that point," Nix said in a news release. "Now, Stockwave has allowed us to spend less time looking for cars and helps us to find the best inventory that suits our business plan.”
Stockwave not only helps dealers find the vehicles they need, but it also helps them make more informed purchase decisions that can improve turn times and profitability. In fact, Stockwave users say they feel their overall capability to source used vehicles is better than other dealers within their market. Users also claim to have seen a notable increase in the number of used vehicles they have in stock after they started using the product.
While Stockwave helps clients search across numerous sources to find the right inventory, one place that has proven particularly fruitful for independent dealers is the Upside Direct digital auction.
The Upside Direct wholesale solution, new from Cox Automotive, is a prime way for independent dealers to find those highly coveted fresh trades from franchise dealers. Upside Direct event sales are hosted from Friday through Monday each week and are ideal for independent dealers looking for a good deal, as the sales feature low starting bids (every car starts at 50% of MMR), no reserves (so every car listed will sell) and the most buyer-friendly protection policies (so buyers can easily return vehicles that don’t match the condition report). Upside Direct offers a digital auction experience unlike anything else in the industry, enabling independent dealers to buy those much-needed wholesale vehicles online confidently. Upside Direct inventory can be sourced from within Stockwave or by visiting directly at UpsideDirect.com.
Collaborations like these empower dealers to find and acquire the inventory they need whenever and wherever they find it — especially since NextGear Capital allows clients to use their floor plan in more places than any other provider. And they can do all that while taking advantage of additional services it offers such as a dedicated Portfolio Manager, access to market insights, performance management, title services, a market-leading account management tool with self-service options and more.
"At Cox Automotive, we recognize the challenges in the market facing independent dealers, and we are committed to delivering them best-in-class solutions that will help them keep their businesses moving forward," said Derek Hansen, vice president of wholesale operations for vAuto.