NextGear Capital supports Japanese imports
Funding specialist NextGear Capital has partnered with used car supplier Nichibo to support dealers importing vehicles from Japan.
The agreement makes NextGear Capital the first funding partner to back dealers in the UK and Ireland wanting to import Japanese vehicles. Japanese imports are growing in popularity due to their typically lower mileage and less corrosion due to minimal road salt use.
The partnership was made possible by NextGear Capital’s recent Stocking Plan update, which now enables users to fund unregistered vehicles, including 100% of the vehicle price and disbursements.
Zoe Sutton, head of partnerships at NextGear Capital, said: “As competition for quality stock continues to intensify, our new partnership with Nichibo opens up a new and desirable source of vehicles for dealers across the UK and Ireland. By enabling Japanese imports to be funded through their existing Stocking Plan, we’re giving dealers the freedom to diversify their stock mix and access global inventory without tying up their own capital, helping dealers to stay agile in an increasingly competitive market.”
Cash flow
Chay Anderson, European regional manager at Nichibo, which has an inventory of more than 140,000 vehicles, said: “This partnership gives dealers a smarter way to source stock without tying up cash or running around the country chasing the right cars.
“Nichibo gives them access to a vast array of vehicles at auction in Japan, with our team on the ground physically checking vehicles before purchase so they can buy with confidence. Working with NextGear Capital removes a major cash flow barrier and makes Japanese imports a more practical, scalable stock strategy for UK and Irish dealers.”
