NextGear Capital announced an agreement with CarMax on Wednesday that will allow dealers to use their NextGear Capital lines of credit at all 68 CarMax auction locations.

NextGear Capital floor plans are currently accepted at more than 1,000 live and online auctions, and may be used with inventory sources such as trade-ins, off-street purchases and loan payoffs.

Officials anticipate that NextGear Capital floor plans will be accepted at all CarMax auction locations as of Aug. 8.

“We recognize CarMax as a company with high integrity and a reputation built on strong values and exceptional customer service,” said Randy Dohse, senior vice president of sales and operations at NextGear Capital.

“NextGear Capital shares these values and service-centric approach to business and is pleased to join efforts with CarMax in providing additional value to our dealers,” Dohse continued. “We are committed to providing our dealers the tools necessary to be successful. The ability for dealers to utilize their NextGear Capital lines of credit at CarMax will enable greater access in sourcing inventory.”