NextGear Capital has partnered with Nichibo, one of Japan’s largest used vehicle suppliers, to enable dealers across the UK and the Republic of Ireland to fund vehicles imported with Nichibo through their Stocking Plan.
This partnership makes NextGear Capital the first stock funder in the UK to support imports from Japan. The development was possible as NextGear Capital’s recent Stocking Plan update enables users to fund unregistered vehicles, including 100% of the vehicle price and disbursements.
Zoe Sutton, head of partnerships and SBS 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.”
Vehicles from Japan already account for 50% of imported vehicles to the Republic of Ireland because of the distinct quality advantages these vehicles offer over locally sourced stock.
Cars from Japan typically carry lower mileage, benefit from less corrosion due to minimal road salt use and are subject to some of the world’s most rigorous roadworthiness inspections, helping to reduce overall reconditioning costs.
Dealers using Nichibo’s platform can now load vehicles imported with Nichibo as trade source vehicles within their NextGear Capital Stocking Plan. T
his gives dealers access to Nichibo’s inventory of more than 140,000 vehicles available at auction in Japan each week, with the flexibility to fund purchases without tying up capital.
Vehicles are supported on plan for 120 days for independent dealers and 150 days for franchise dealers.
