NextGear Capital has made an agreement with CarMax that allows dealers to use NextGear Capital lines of credit at all 68 CarMax auction locations.
NextGear Capital floor plans are currently accepted at over 1,000 live and online auctions, and may be used with inventory sources such as trade-ins, off street purchases and loan payoffs, according to the company.
NextGear Capital floor plans are expected to be accepted at the CarMax auction locations August 8.
"We recognize CarMax as a company with high integrity and a reputation built on strong values and exceptional customer service. NextGear Capital shares these values and service-centric approach to business and is pleased to join efforts with CarMax in providing additional value to our dealers,” said Randy Dohse, senior vice president of sales and operations at NextGear Capital. “We are committed to providing our dealers the tools necessary to be successful. The ability for dealers to utilize their NextGear Capital lines of credit at CarMax will enable greater access in sourcing inventory.”