NextGear Capital organizes auction advisory board to support independent dealerships
Buy-here, pay-here and independent dealerships have been the topic of conversations for at least part of this week’s National Auto Auction Association convention in Dallas.
Some of that dialogue took place as NextGear Capital announced on Thursday that it has created an auction advisory board to deepen its commitment to auctions that support independent dealers.
According to a news release, NextGear Capital said the goal is to seek firsthand insights from a diverse group of auction owners, industry leaders, alliance partners and influencers such as how to create greater efficiencies and maximize the use of technology in the rapidly evolving automotive remarketing space.
The floorplan provider indicated this feedback will help guide the company’s future investments and help elevate the entire industry.
The inaugural meeting took place on Tuesday as part of the NAAA annual convention.
“This new auction advisory board is an important partnership for NextGear Capital to enhance our processes and create efficiencies to better meet the needs of our valued auction partners,” said Sandy Moon, AVP of auction and floor plan services at NextGear Capital.
“In addition, it provides a collaborative platform for auto auction leaders to share feedback with NextGear Capital and ensure that we are able to grow together and best serve one another. The importance of this opportunity is not lost on our inaugural members,” Moon continued in the news release.
The company highlighted the 10-member auction advisory board also is a “natural extension” of NextGear Capital’s auction services department created earlier this year to build deeper relationships with auctions in order to better understand their unique needs.
NextGear added this new group also builds on the success of the company’s dealer advisory board launched in last year to better understand and serve independent dealers.
“I am truly honored and excited to be a part of this inaugural Advisory Board and its goal to create stronger partnerships within our industry,” ServNet Auctions president Chad Bailey said in the news release.
“As an auction owner/operator, it is crucial for my customers to have multiple financial outlets to weather uncertain times,” Bailey added. “NextGear Capital’s efforts to take the lead in the development of an industry road map for better communication, services and opportunities can only strengthen this goal.”