auto dealer in black and red logo
MenuMENU
SearchSEARCH

NextGear Capital Partners with Manheim to Enhance Its Flex Pricing Program

First of several benefits planned in 2022 to further independent dealer goals, needs.

February 10, 2022
NextGear Capital Partners with Manheim to Enhance Its Flex Pricing Program

First of several benefits planned in 2022 to further independent dealer goals, needs.

2 min to read


ATLANTA, Ga. – To further improve cash flow for independent dealers to invest back into their businesses, NextGear Capital is introducing a new element to Flex Pricing, a floor plan program that offers .01% principal reduction per period and fewer fees. Now, Flex Pricing will offer additional payment deferments on vehicles purchased from Manheim. 

“This new element to Flex Pricing combines the power of two Cox Automotive brands to take a well-received financing program, especially among our cash-sensitive clients, and make it even better,” explained Scott Maybee, president of NextGear Capital. “This is the first of several enhancements coming from our team this year that reinforces our commitment to investing in dealer success and providing choices that further their diverse goals and needs.” 

The response from dealers who are using Flex Pricing for its cash flow benefits has been extremely positive. “Flex Pricing has been very useful, especially when the business is having some slow peaks,” said William F. Boyd with B.M.N., Inc. in Alabama, who has been a NextGear Capital client since 2014. “Paying on the back end, versus the front end, plays a major role in my decision making for the business. It’s like getting an extra month to pay off the loan.” 

“Flex Pricing helps our dealership keep curtailment costs down and assists with cash flow by allowing us to purchase more inventory on our floor plan, knowing that when it’s time to pay curtailments, we aren’t hit with large fees all at once,” added Amy and Ty Howorth whose Texas dealership, Howorth Auto Group, has also been a NextGear Capital client since 2014.

While the added benefit of deferring certain payments applies specifically to vehicles purchased at Manheim, the original benefits continue to be available on all non-Manheim purchases for dealers enrolled in the Flex Pricing program. 

NextGear Capital also partners with Cox Automotive’s Ready Logistics to allow clients of both brands to buy, floor and transport vehicles in one seamless transaction.

More Auto Finance

Industryby StaffAugust 15, 2024

The Risk When the Customer Is Not in the Dealership

Take this series of steps to help protect your business from fraud by this method.

Read More →
F&Iby StaffAugust 13, 2024

Auto Loan Access Keeps Falling

July conditions tighter for consumers despite average loan rate decline.

Read More →
F&Iby StaffAugust 12, 2024

Dealers Wary of AI in Auto Finance

Poll shows growing aversion to technology’s accelerating part in process.

Read More →
Ad Loading...
Auto FinanceJuly 25, 2024

Is the Death Knell Being Sounded for Dealer Financing?

There appears to be a regulatory target on auto dealer-provided loans.

Read More →
Industryby StaffJuly 24, 2024

Ferrari Calls Cryptocurrency Foray a Success

Carmaker will add the payment options in its European dealerships this month after introducing it in the U.S. last year.

Read More →
Industryby StaffJuly 16, 2024

New-Vehicle Affordability Is Up

June conditions, including best average loan rate in a year, make buying more likely.

Read More →
Ad Loading...
Industryby StaffJuly 12, 2024

Pandemic-Era Prices Affect Trade-Ins

New buyers, especially those with EV trade-ins, are feeling the brunt of depreciation as market normalizes.

Read More →
Industryby StaffJuly 1, 2024

Auto Credit Crunch Tightens

Borrowers taking on more debt, moving many into delinquent territory.

Read More →
Auto Financeby StaffJune 19, 2024

New Cars Within Easier Reach

Affordability metrics improved in May as lending costs ebbed, finances flowed more freely.

Read More →
Ad Loading...
Auto Financeby Hannah MitchellJune 13, 2024

A Good Deal

Rising auto loan delinquencies, though bad news, could be another opportunity for agents to help dealers come down from pandemic highs.

Read More →