Geitner Talks MAFS-DSC Merger Benefits
In their merger to form NextGear Capital, Manheim Automotive Financial Services and Dealer Services Corp. each bring something unique to the table that can benefit dealers and auctions.
That’s the word from Brian Geitner, president of the new company, who had held that same role for DSC and talked with Auto Remarketing on Friday about the launch of NextGear.
“DSC definitely brings some of the latest technologies. We’re a company that has always been known for that. I jokingly say that we’re a technology company that happens to lend money. And it gets my employees minds in the right room,” Geitner said when asked about the respective benefits each company in the merger offers.
“On the MAFS side, (they bring) great customer service; (they’re) just know for industry customer service, with how deep those relationships are. I’ve interviewed plenty of those dealers on the phone, and in talking with them, there’s just a deep relationship there. There’s trust,” he continued. “And it probably just comes with that whole MAFS brand. And so melding those two things together, launching NextGear, I think we’re going to get the best of both worlds out of that.”
News of the newly launched inventory finance entity was announced Friday morning.
NextGear Capital — which said it serves more than 17,000 dealers and 1,000 auctions throughout North America — will maintain headquarters in Carmel, Ind. A new facility is currently under construction.
In its statement announcing the new entity, the company emphasized the “cutting-edge technology” NextGear Capital will afford dealers, letting them floor plan vehicles 24-7 from anywhere.
“Under the new company, customers will enjoy access to more pricing options than ever before, including customized inventory finance options tailored to suit their specific needs,” officials said.
“The company sets a new standard for buying and selling vehicles at live and online auctions, with a versatile line of credit that works seamlessly at auction sites across the U.S. and Canada,” they added.
NextGear Capital indicated that a wide range of floor plan purchases for which customers can use their working capital. These include retail, wholesale, salvage or specialty (rental/heavy trucks/RVs/receivables financing) purchases.
When customers make purchases, NextGear Capital said it backs them up with services like Retail Lender Connection, Collateral Protection, Records Management and Title Services.
“When you do business with NextGear Capital, you get a lot more than just financing options,” said Shane O’Dell, the company’s chief operating officer. “You receive a robust array of services and support to help you acquire and move your inventory.”
In the conversation with Auto Remarketing, Geitner went into more detail about the benefits customers will see from this move.