Nextgear Capital

I strongly advise against doing business with this company. As a small car dealership, I was initially doing fine until they approached me with an offer to finance my cars through their floor plan.

However, my experience with them has been nothing short of disastrous. It is evident that this company prioritizes their own interest charges and excessive fees above all else. Within a span of just over nine months, I incurred losses exceeding $50,000.

The burden of paying off this immense debt and closing my account still weighs heavily on me. I feel compelled to share my detailed account of the negative experience I had with their representatives.

Rest assured, I will soon provide a thorough account of the issues encountered.

In conclusion, I strongly caution anyone considering doing business with this company.

Their practices and lack of consideration for their clients' well-being have had a severe and detrimental impact on my business. Learn from my unfortunate experience and seek alternative financing options that prioritize transparency and fair treatment.

First let me say that we shouldve been more vigilant by doing more research on this company before making contact with them.

Ill try to make this short. We spoke with them and they talked a nice talk and went over how their floor plan works.

It sounded like a great opportunity for us to be able to elevate our car dealer business.

They sent us a loan application, we filled it out then signed it electronically. We also sent in copies of our drivers license, dealer license, etc.

They reached out to us saying that they needed us to hand sign the application. We hand signed it and emailed it back to them. They called us again and said that our signatures from our drivers license does not match the signatures on the loan.

They then said to digitally sign the application again. We digitally signed and sent it back and that still wasnt good enough so they asked us to do something weird. Thats when my radars went up!

Googled them and read all of the bad reviews and was so thankful that they gave us a hard time with the loan application. What intrigued us was that one particular review we read mentioned how they were very rude and unprofessional.

Well after typing up an email to inform them that we longer were interested in doing business with them, we quickly got a phone call from Robert Patterson.

He asked why did we not want to move forward with them and we told them that red flags were up and they were giving us a hard time. Mr. Patterson said dont waste their time.

Dont be mad Robert because we caught on to your scam. You wasted our time truly.

When you write your signature on your drivers license, you use a stylus. When you hand write your signature, you use a pen. So of course the signatures will look a little different. It is all good.

God was truly looking out for our family. We want to pay it forward just like the others whove posted reviews on this company.

DO NOT DO BUSINESS WITH THEM!

BEEN USING THEM FOR ABOUT A YEAR NOW`. BEEN IN BUSINESS FOR ABOUT SIX.

WAS ONLY USING MY OWN CASH TO STAY ABOVE GROUND. APPLIED FOR A FLOOR PLAN WTIH ANOTHER COMPANY AND THEY DENIED ME.WENT TO NEXTGEAR AND THE REP WAS HELPFUL AND TOLD ME HE WOULD MAKE SURE I GET A LINE. HE WAS RIGHT . NOW IM MOVING 8 TIMES THE AMOUNT OF CARS OFF MY LOT AND AT VERY CHEAP PRICES.

SURE SOME CARS MIGHT NEED ALITTLE EXTRA WORK SO THEY SIT MUCH LONGER THEN OTHER BUT AS LONG AS YOU MAKE THE PAYMENTS YOU CAN GET MORE TIME TO FIX IT UP AND SELL IT. I HAVE HAD A FEW ISSUES WITH CARS BEING MISSED DURING AN AUDIT OR THE AUDITOR COMING AFTER HOURS .STUFF HAPPENS BUT THEY GIVE YOU ENOUGH TIME TO FIX IT. THEY EVEN HAVE A PPLICATION TO QUICKLY FIX THAT. THEY HAVE LOCAL REPS THAT WILL WORK WITH YOU TO RESOLVE ANY ISSUE THAT MIGHT COME UP.

THEY ARE IN THE BUSINESS TO MAKE MONEY AND THE MORE A DEALERSHIP GROWS THE MORE MONEY THEY MAKE AND SO THE DEALERSHIP. FEES I FEEL ARE FINE.

TRY AND BORROW $3K TO BUY A CAR ANYWHERE AND SEE WHAT THEY WANT IN RETURN.THIS IS BASED ON MY EXPERIENCE DEALING WITH NEXTGEAR AND AM SORRY TO HEAR OTHERS HAVE HAD TROUBLE BUT IM SURE THERE IS MORE TO THAT STORY.LOOK BORROW BUY RIGHT SELL PAY AND DO IT ALL OVER AGAIN SIMPLE. DONT BORROW SELL CAR NOT PAY AND EXPECT THEM NOT TO TAKE ACTION.

Please beware of Nextgear Capital, in the long run they will bury you and you will go broke. Their floor plan sounds great, but with all the fees they tack on it all adds up.

If you get behind you will have a hard time catching up. Nextgear Capital is a cut throat company, all politics. If you become delinquent on payments they will pick your cars up and run them thru the auction and get pennies for them and still go after you for the balance that is owed. They will not work with you at all on trying to resolve any issues.

Even if you decide to pay them off they will black ball you from all Manheim Auto Auctions, this is exactly what happened to me. We paid off our whole flooring line and later found out we have been 86ed from all Manheim Auto Auctions, even though we have been going to Manheim for over 20 years buying majority of our inventory from Manheim. it all comes down to Cox Automotive who owns both companies and more, dont do business with Nextgear Capital then guess they dont want you buying cars at Manheim Auto Auctions then.

All I can recommend is to stay away from signing up with Nextgear Capital, they will shut you down and kick you out of all Manheim Auto Auctions. Nothing but crooks.

I was using NEXTGEAR as a floor plan for the first year and a half of my business. I never missed a payment or curtailment and was in good standings.

My rep took another position and left the NEXTGEAR. They sent a rep from Indiana to visit dealers and fill in while the transition for a new rep was in place. This rep was rude and lied flat out to me and his boss stating that I had vehicles missing from the lot. I explained that they were in my service shop getting repairs and that he could come back and verify the vehicles.

He never stopped back and I never saw him again. 2 days later my Floor Plan was reduced by 75k and I was over my balance. I was told by the area manager that I would have to work my way back up even though I had never failed an audit or missed payments. So I decided to end my relationship with NEXTGEAR.

That is when everything went south. I told them I would take the vehicles to the auction and sell out of the inventory. Instead they sent out tow trucks in the middle of the night and repoed all the vehicles now claiming I was in default. They then locked my account only allowing me to send money via Wire.

Then they Blocked me from the auction and filed suit. They are incredibly rude and want to end your business with bully tactics and lawyers. They are owned by COX Communications and share the same practices as the cable company. You pay fees after fees and they do not like it when you want to get rid of them like your cable company.

Beware and even when your in good standings they will force you to be in default. They are a huge company and own most of the auctions. They use this to squash the little guys. Forcing you to either go out of business or try fighting the giant.

Trust me when I say this is all to common for hundreds if not thousands of small dealerships in the U.S. Big dealerships do not use this company because of the practices. But we all do not have big dealership money so they prey on the smaller lots like vultures. I am still in business but they have tried to make this not happen by every measure you can imagine.

Be smart and stay aware because they will at some point try to control your business. And if you do not comply they will sink their teeth in the heart of your lively hood.