John Fuller, founder of NextGear Capital, died Wednesday at age 75, the company announced. Fuller is known throughout the auto retail industry as an innovator in the floorplanning segment, having founded and sold Automotive Finance Corp. and Dealer Services Corp., the latter to Manheim.
NextGear is billed as the nation's largest floorplan provider for independent dealers with a network of 20,000 clients.
Colleagues said the Indianapolis native had a passion for serving independent dealers, who often had limited financing options before the launch of Fuller’s companies. Many independent dealers relied solely on cash to acquire vehicles for resale. Floorplanning provided the funding they needed to purchase inventory and finance operations.
"John Fuller had an entrepreneurial spirit that continues to shape our company and industry," said Shane O'Dell, who oversees NextGear Capital as president of Cox Automotive Financial Solutions Group. "He saw a need in the market and worked tirelessly to fill that gap with the highest level of customer service. John leaves a lasting legacy that we try to live up to every day."