Audits are now a snap in the app!

As a lender, we have a responsibility to audit the vehicles on your floor plan, but we also want to make the audit process as efficient as possible. That’s why we are introducing self-audits in the NextGear Capital mobile app — a powerful new audit experience that allows our dealers flexibility to complete audits with less disruption to their operations and avoid certain audit fees.

NextGear Capital self-audits will exist in conjunction with traditional auditor visits, in order to provide every client with an audit experience that fits your dealership’s unique profile. Therefore, you may still see your friendly auditor from time to time.

If you are assigned a self-audit, you’ll complete the entire audit process in a few simple steps in the NextGear Capital mobile app. Just sign in to the app, take the three required vehicle photos for the vehicle being audited, and upload them. That’s it! Any vehicles you successfully self-audit will get marked as completed in real-time, so you can audit fast, stay compliant, and keep your business running efficiently. Check out our step-by-step guide for more details on the self-audit process.

So make sure to download the NextGear Capital mobile app today, and start making vehicle audits a snap in the app!

Interested in getting started now with self-audit? Email our Customer Service team

*All rights reserved. Certain conditions apply. All advances are subject to the terms and conditions of your Demand Promissory Note and Loan and Security Agreement and other Loan Documents with NextGear Capital. You are responsible for obtaining the cellular or wireless connection to access the NextGear Capital mobile app, including any data rates charged by your carrier. You are responsible for ensuring you have enabled push notifications for the NextGear Capital app and to check the app regularly for any notifications. If the self-audit is not completed successfully within the designated window, additional steps will be required and fees may be incurred. NextGear Capital reserves the right to modify or terminate this offer, without notice and at any time. For complete details, terms and conditions, please see your local NextGear Capital representative. All advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.

HOW SELF-AUDIT WORKS

Self-audit, now available to select dealers in the NextGear Capital mobile app,* allows you to audit vehicles on your own in just minutes. Designed to keep your lot compliant and your business running efficiently, this streamlined audit experience is fast and easy. Simply take vehicle photos with your mobile device, and upload them within the provided window.

How it works

Watch for open audit alerts in the form of a push notification from the mobile app and an email starting the 48 hour window to complete the audit.

Tap on the push notification or log in to your NextGear Capital app to initiate your self-audit from the Audits To Complete tile on your dashboard.

Select a vehicle from your inventory list to begin each audit.

Follow the prompts to upload required photos and complete each audit.

Repeat for all remaining vehicles on the audit list until complete.

Download the app today!

Need help? Email our support team

Interested in getting started with self-audit? Email our Customer Service team

*All rights reserved. Certain conditions apply. All advances are subject to the terms and conditions of your Demand Promissory Note and Loan and Security Agreement and other Loan Documents with NextGear Capital. You are responsible for ensuring you have enabled push notifications for the NextGear Capital app and to check the app regularly for any notifications. If the self-audit is not completed successfully within the designated window, additional steps will be required and fees may be incurred. NextGear Capital reserves the right to modify or terminate this offer, without notice and at any time. For complete details, terms and conditions, please see your local NextGear Capital representative. All advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.

Self-Audit FAQs

What is NextGear Capital’s Self-Audit?

NextGear Capital is revolutionizing the audit experience by introducing Self-Audit, allowing you to audit floored inventory using the NextGear Capital mobile app.

• Ease of Use: More convenient & streamlined audit processes easily completed from the convenience of the NextGear Capital mobile app.

• Self-Service: Audit your own inventory within 48 hours of the push notification and email referenced below.

• Control Costs: Take more control of fees that may

Are there fees associated with Self-Audit?

No. Self-Audit allows you to take more control of fees you might incur as part of the current audit process.

How are Self-Audits conducted?

Log into the NextGear Capital mobile app, scroll to the Audits tile on your dashboard and tap the tile that shows the number of units To Complete. Select a vehicle from your inventory list to begin an audit. Simply follow the prompts to take/upload the required photos and complete the audit. Repeat the same process for any remaining vehicles on the audit. It’s that simple!

If I complete a Self-Audit, will I still have an auditor visit my lot?

A complete and successful Self-Audit will satisfy the audit requirement for that audit period. That may mean you won’t see an auditor that month. However, Self-Audit does not guarantee that you will never see an auditor in-person again.

How will I know when it’s time to self-audit?

You will receive a push notification from your NextGear Capital app and an email alerting you of an audit due on your account. You will have 48 hours from the time stamp on those alerts to complete your Self-Audit. It is your responsibility to enable push notifications from the NextGear Capital app in your device settings and check regularly for updates and notifications.

Do I have to use the NextGear Capital app?

Yes. If you do not have the app, you can download it free from the Apple App Store or Google Play. If you already have the app downloaded just ensure you are on the latest version and have enabled push notifications.

How long will I have to complete a Self-Audit?

You will have 48 hours from the time stamp on the push notification and email alerting you of an audit being due, within which to complete the Self-Audit.

Do I have to complete Self-Audits?

Yes, if you are assigned a self-audit, it is required for you to complete the audit in the 48 hour window. Any vehicles not successfully audited will be marked as unverified and require post-audit reconciliation.

Who do I contact if I need help with the Self-Audit?

You may reach out to your NextGear Capital Representative or our dedicated service team to assist with any questions regarding Self-Audit. You can reach them at ngc.customerservice@coxautoinc.com.

Can I delegate authority to complete the Self-Audit to an employee or other individual?

There is no current process to support the delegation of account management.

What if I am unavailable or out of town when the Self-Audit is assigned?

If you know you will be out of town for longer than 48 hours, you will need to contact NextGear Capital in advance. If there is an emergency that prevents you from completing the Self-Audit after it has begun, contact us to request a deferral. Failure to notify your NextGear Capital Representative or our dedicated service team may result in the loss of Self-Audit privileges.

How do I enable push notifications & location services?

iPhone Users Push Notifications

1. Go to Settings and tap Notifications.

2. From the list of apps under Notification Style, select the NextGear Capital app.

3. Turn on Allow Notifications, choose the alert style and when you want the notifications delivered.

iPhone Users Location Services Android Users Location Services

1. Go to Settings > Privacy & Security > Location Services.

2. Use the toggle next to Location Services to turn on.

Android Users Push Notifications

1. Go to Settings, tap Notifications > App Settings.

2. Tap All apps and tap the NextGear Capital app.

3. Turn on notifications, choose from the sound and notification types you prefer.

Android Users Location Services

1. Swipe down from the top of the screen twice.

2. Tap the Location icon to turn on.

*All rights reserved. Certain conditions apply. All advances are subject to the terms and conditions of your Demand Promissory Note and Loan and Security Agreement and other Loan Documents with NextGear Capital. You are responsible for ensuring you have enabled push notifications for the NextGear Capital app and to check the app regularly for any notifications. If the self-audit is not completed successfully within the designated window, additional steps will be required and fees may be incurred.NextGear Capital reserves the right to modify or terminate this offer, without notice and at any time. For complete details, terms and conditions, please see your local NextGear Capital representative. All advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.

NextGear Capital Rolling Out Self-Audit Capability for Independent Dealers

CARMEL, Ind. – June 10, 2024 – It’s not often you hear the words innovation and audit in the same sentence. However, NextGear Capital is challenging that perception by creating a new self-audit feature within its mobile app. Clients will be able to audit their floor planned inventory on their own, giving them greater control of the auditing process. This approach is built on giving clients the tools they need to succeed, while reinforcing the trust between NextGear Capital and its clients. 

“We’re listening to our dealers and meeting them where they are by providing more self-service options to make it easier and faster to do business with us,” said Scott Maybee, president of NextGear Capital. “This enhancement is another way we are investing in our dealers and innovations like our mobile app to deliver a better customer experience.”

Since NextGear Capital launched its mobile app last June, it has exceeded expectations with a nearly 67 percent dealer adoption rate. The app has become a useful resource for independent dealer clients to view their account information quickly and easily in real-time and take action in an increasingly connected marketplace.

How It Works, Benefits Dealers

This solution, created in partnership with Sopra Banking Software, gives dealers greater control to manage the auditing process themselves. Self-auditing gives dealers back time to focus on their clients, operations and inventory sourcing. When notified of an open audit, dealers have the flexibility to perform their audits at their convenience within a 48-hour time frame. The self-auditing capability is a component of NextGear Capital’s overall audit strategy.

Clients piloting the new self-audit feature have found it fast and simple with 95% of surveyed users responding that the process is easy to use. “It was very easy to access and follow,” said a dealer from Colorado. A Southern California dealer shared, “I’m in control — I don’t have to do it first thing in the morning or even in the afternoon.” Feedback from the pilot will be used to enhance the experience for dealer clients.

What’s Next

NextGear Capital is testing the self-audit feature in phases and will continue expanding it to more users throughout the summer.   

Dealers interested in learning more about self-auditing and how to maximize this feature and others on the mobile app can contact their portfolio manager or visit the NextGear Capital team onsite at NIADA in Las Vegas June 17-20.

NextGear Capital Offers Top Tips for Independent Dealer Success in 2024

Real-world advice that dealers can act on today and all year

CARMEL, Ind. – February 12, 2024 – If the chaos of the last four years has taught us anything, it’s that predicting the future comes with uncertainty. Still, there’s plenty of data to suggest that 2024 will bring stable wage and credit conditions that keep demand strong.

Cox Automotive expects small gains in the used-vehicle market, despite limited availability. These top tips can help independent dealers seize the opportunities those trends may create.

“Our goal is to provide dealers with advice and solutions that help them thrive in any environment,” said NextGear Capital President Scott Maybee. “Our team members work alongside independent dealers every day, providing expert insights to help them make more informed decisions and drive profitability for their business. These tips reflect the knowledge, expertise, and value they bring to every client relationship.”

  • Share your services. Let buyers browsing your online offerings learn as much as possible from your vehicle photos. For example, do you buy cars off the street and not require the seller to buy a car? Do you provide extra services? Adding text with images ensures the viewer gets all of your messages.
  • Respond to your Google reviews. If they’re good, thank the reviewer. If they’re not so good, address the concern and show empathy. You are being evaluated just the same as you assess your customers.
  • Maintain financial records and don’t overextend yourself. Be aware of how much credit you have — especially if you have multiple floorplan lenders — and stay away from hard money lenders who drain a dealer’s cash flow daily. Also, ensure you understand where adjustments need to be made to offset rising costs. 
  • Use the Lienholder Loan Payoff program. NextGear Capital can help you close more deals and accept more trades while maintaining your cash reserves and keeping your focus on selling cars.
  • Put urgency into selling. Time is money, so treat your first renewal as a “payoff due” to keep from getting stuck holding units that aren’t a good fit. Price vehicles based on market value and not how much you have in the unit. All deals may not be winners — if you don’t move metal quickly you can’t win at all.
  • Stay informed about software options for managing your floorplan. These tools are constantly evolving. Look for solutions like the NextGear Capital mobile app that help you be efficient and enable you to easily stay on top of your commitments. Features that give you a clear view of due dates or that can help with audits and reconciliation save you time and money.
  • Word of mouth is a gold mine. Invest in a strong CRM to stay connected and drive sales. At the sale, be transparent and create a great customer experience that will help drive repeat business. Remember, this is likely the second largest purchase of their life.
  • Build a strong team culture and invest in your employees. The team is the backbone of the dealership; you can’t grow without the right staff. Find ways to invest in your team – new benefits don’t always have to have huge costs. 
  • Stay on top of industry insights. Keep your finger on the pulse of the automotive world, using the myriad of resources available online, including dealer groups you can join.

About NextGear Capital

NextGear Capital is the automotive industry’s largest independent inventory finance company, 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.  The company’s products and services allow dealers to floor plan nearly any type of remarketed unit, including retail, wholesale, salvage, and specialty. With a customer base of more than 18,000 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. Headquartered in Carmel, Indiana, NextGear Capital is a Cox Automotive™ brand. For more information, visit www.nextgearcapital.com.

About Cox Automotive
Cox Automotive is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, auto manufacturers, dealers, lenders and fleets. The company has 29,000+ employees on five continents and a portfolio of industry-leading brands that include Autotrader®, Kelley Blue Book®, Manheim®, vAuto®, Dealertrack®, NextGear Capital™, CentralDispatch® and FleetNet America®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on X, CoxAutoInc  on Facebook or Cox-Automotive-Inc on LinkedIn. 

NextGear Capital’s Mobile App Achieves High Adoption in First Six Months

CARMEL, Ind. – December 13, 2023 – In the six months since NextGear Capital launched a new mobile app to complement its Account Portal, it has exceeded expectations with a 55% adoption rate. The app has become a resource for independent dealer clients to view their account information quickly and easily in real-time and take action in a marketplace that is more connected than ever.

“Seeing the fast dealer adoption of this new technology lets us know that we’ve met our clients’ need for quick, on-the-go access to data about their floor plan to make more informed decisions,” said Scott Maybee, president of NextGear Capital.

Account Portal is the foundation for all of NextGear Capital’s floor plan products and services, providing a comprehensive digital gateway to view and manage account information. The mobile app’s functionality is designed to be a companion tool to the desktop version that allows dealer clients to quickly manage actionable tasks and make immediate decisions on the go.

“The NextGear app has been a game changer,” said Alex Taras with Springfield Motors in Missouri. “Along with its modern layout, one of the most important features is ease of use. The dashboard shows the most important information I’m looking for when managing payments, inventory age and available capital, and getting a vehicle valuation and adding it to my floor plan is as easy as scanning the VIN barcode. Overall, the NextGear app has helped our store manage inventory quicker, on the fly, and without any hiccups.” 

NextGear Capital’s analytics reveal the following usage trends:

  • 92% of users who have downloaded the mobile app have also elected to receive push notifications.
  • Strong usage on both the mobile app as well as the desktop experience validates dealers’ need to have choices when transacting.
  • Over half of users are taking advantage of the mobile app’s VIN scanner for vehicle valuations which uses best-in-class technology created by vAuto.
  • More than 40% of users have cleared an audit via self-reconciliation inside of the app.

“After using the app, I find it helpful and easy to navigate through the different options,” added Erick Uranga with Cartex Auto in Texas. “One helpful tool is the details displayed when it comes to the inventory age and title status in one screen that helps me stay updated and organized. Overall, the mobile app experience has been great and I’m looking forward to the future of this app.”

Updates planned for 2024 include beta testing digitized self-audits, performing security updates and relaunching Account Portal’s desktop platform to provide a next-generation, streamlined version that is more in line with the mobile app’s user-friendly experience.

About NextGear Capital 

NextGear Capital is the automotive industry’s largest independent inventory finance company, 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 North America.  The company’s products and services allow dealers to floor plan nearly any type of remarketed unit, including retail, wholesale, salvage, and specialty. With a customer base of more than 21,000 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. Headquartered in Carmel, Indiana, NextGear Capital is a Cox Automotive™ brand. For more information, visit www.nextgearcapital.com. 

About Cox Automotive 
Cox Automotive is the world’s largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders and fleet owners. The company has 25,000+ employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $22 billion in annual revenue. Visit coxautoinc.com or connect via @CoxAutomotive on Twitter, CoxAutoInc on Facebook or Cox-Automotive-Inc  on LinkedIn.

10 Tips for Independent Dealers to Thrive in 2023

By nearly every measure, 2022 was a difficult year for the automotive industry, marked by historically low vehicle inventories, high prices and the ongoing risk of an economic recession. With Cox Automotive predicting the year ahead will be one of transition, as both consumers and the industry move past the remains of a global pandemic and set a new course for growth, the NextGear Capital field team has compiled 10 tips to help independent dealers thrive in 2023.

“NextGear Capital is steadfast in our commitment to the success of independent dealers and delivering solutions to help them thrive in any environment,” said NextGear Capital President Scott Maybee. “Our team members are in the trenches with independent dealers day in and day out, providing insights to help them make more informed decisions, streamline their operations, and create efficiencies. These tips are a reflection of the expertise they bring to every client relationship.”

  1. Aged inventory is not your friend. Holding costs will hurt your profits.
  2. Money is made at the buy. Use tools to expand your reach to find the desired inventory at the best price. Look for tools that allow you to wholesale and retail at the same time.
  3. Know where your inventory is at all times. Use tools such as Account Portal to make your audits and reconciliations more efficient and profitable.
  4. It is important to be lean in 2023. Watch expenses closely such as reducing unnecessary costs, ensuring your marketing spend generates returns, and investing carefully to stay competitive.
  5. Change your pricing strategy regularly to match market conditions.
  6. Leverage the resources of your vendor partners. They have the ability to provide access to unique data which is key to driving stronger profits. Also, choose partners that work together to improve your efficiency and strategy.
  7. Focus on the client experience. Consider time on the lot, pricing transparency, and the overall process. Give your clients an experience to remember and they will spread the word to others.
  8. Build long-term relationships. Become involved in your community, learn from your competitors, and stay close with your vendors to keep abreast of new products, offerings and opportunities.
  9. Knowledge is power. Pay attention to industry news and stay on top of trends.
  10. Satisfied clients are a gold mine. Invest in a strong CRM to stay connected to them and remain top of mind.

Powering You With Responsive Service

As an independent dealer, we know you wear many hats every day and how valuable your time is. Whether you’re on your lot, out in the lanes or anywhere else for that matter, we understand you need to access information about your floor plan on the go. That’s why at NextGear Capital, we make it easy to get the answers you need, when you need them.

Whether it’s a call to our team, an in-person meeting with your NextGear Capital rep or 24/7 access to your floor plan though our Account Portal, we’re here for you with an unmatched level of service, guidance, and insights to help power you to the next level—whatever that is for you.*

At NextGear Capital, we want to see your goals and dreams come true as much as you do, so we dedicate ourselves to your dealership’s success.

Let us know how we can help you grow.

Get Started Now

Terms and Conditions:
*All rights reserved. Certain conditions apply. Must be in good standing with NextGear Capital to access the Account Portal. All Advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.

Powering You In More Places

Floor planning is a great way to fill your lot with the inventory your customers want without draining your cash flow. But if your credit line doesn’t give you the ability to use it when and where you need it, it’s time to set up one that does.

NextGear Capital floor plans are accepted at over 1,000 locations. Use our Auction Finder to identify which in-lane and online auctions near you are included in our Universal Source Network.

We make it super convenient to source inventory in-lane and online, but we don’t stop there. NextGear Capital floor plans can also be used for trade-ins, off-street purchases, loan payoffs, rollovers from other lenders, and dealer-to-dealer purchases. Which means you can stop paying for all your non-auction purchases out of pocket and save time and money by letting us take over your consumer loans and title management process, too. You can even get cash back by flooring owned inventory that’s already on your lot.*

As an independent dealer, we know you always have more than enough on your plate. So, offering you a credit line you can use practically anywhere gives you a lot more freedom and one less thing to worry about.

Are you ready for a floor plan you can use in more places? 

Get Started Now

Terms and Conditions:

*Certain conditions apply. All rights reserved. Subject to the terms of Dealer’s Demand Promissory Note and Loan and Security Agreement with NextGear Capital, Inc. All Advances made in California by NextGear Capital are made pursuant to NextGear Capital’s California Finance Lender License, #603G505.