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To All Fellow and Future Dealers, Please be very very careful with Nextgear Capital. We received a credit line for $250k and the documented Interest Rates and Fee's were written down.

After 30 days the fee's changed, Interest went through the roof and audits became $265 instead of $80-100 like promised. They gave us 6% interested per 30 days with a 760 Credit Score. That's 72% interest per year. After 3 en-curtailment payments on a unit you not only no profit profit but end up losing 1K plus.

Once you default Cox automotive will blacklist you from all Auctions in the US and Canada. Being banned from Manheim is Honestly a Blessing, every single car out of there has some serious irregularities ( missing Check Engine Lights Bulbs, Air Bag Bulbs, Airbags, Odometer tampering or just quick patch work so the engine or tranny explodes as soon as you make it back to your dealership. Unfortunate they are such a large company that they will continue to bury honest and ethical dealers whom take the time to repair the vehicles and make them safe for customers and their families. Once defaulted Nextgear will also DESTROY your credit so you cant lease a car, rent an apartment and so on.

In Short, Don't let these Loan Sharks near your dealership. I pray those at Nextgear answer for what they have done sooner or later. Currently working on a Class Action Large Enough to have those involved jailed.

Indiana is a state which doesn't tolerate fraud. Nextgears Corporate Attorneys are good, but there is Mercy for a Widows Son.

Product or Service Mentioned: Nextgear Capital Loan.

Reason of review: Poor Business Ethics .

Monetary Loss: $975000.

Preferred solution: Let the company propose a solution.

I liked: Promises made in order to sign with nextgear.

I didn't like: Fraudulent business practices.

Company wrote 0 private or public responses to the review from Jan 24.
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OriginalPelican110
#1589289

any updates on this

Anonymous
#1462647

Are you suing Nextgear

Anonymous
#1461237

Visit nextgearcapital.blogspot.com

Anonymous
#1451728

You may be an honest dealer but all of these complaints have a lot of similarities. if you are happy with Nextgear Capital, there is absolutely nothing wrong with that, whatsoever.

I had horrible dealings with Nextgear Capital without a default. we are all enititled to our opinions.

My opinion, Nextgear Capital plays games. Why else would they have dozens and dozens and dozens of litigations currently active.visit nextgearcapital.blogspot.com

Anonymous
#1438572

Do business the way you are supposed to like most of us dealers doing the right thing, and you wouldn't have to worry about any floorplan repo'ing the cars they paid for for you. You guys make it hard on rest of us who are honest and do the right thing!! People don't get cars taken for No reason...learn to run a dealership.

Anonymous
to Anactualhonestdealer #1470417

Wait until you have any problem. And you will see thier rep which make himself your freind show up and repo all your cars.

Anonymous
#1425845

They are really LOAN SHARKS,the paperwork you sign changes after 30 days,what a waste {{Redacted}}

thetruthprevails
#1423122

Federal Investigation Hopefully around the corner. Hopefully FBI doesn't mind traveling to the middle of nowhere. Would feel great to See them in Handcuffs, Justice must be served.

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