NextGear Capital, the UK’s leading wholesale funding specialist, has partnered with TradeBid, bringing flexible stock funding solutions to Ireland’s dealership network.

TradeBid delivers an end-to-end car buying and selling solution, covering everything from sourcing stock to vehicle logistics. With the addition of NextGear Capital’s stock funding, TradeBid customers can enhance their inventory sourcing strategies with additional capital to fund their vehicle purchases, freeing up cash flow to focus elsewhere in their business. In addition, those who opt to fund through NextGear Capital on the platform benefit from instant payments, 100% vehicle funding over 150 days, and all transaction and delivery fees included. 

Niall Phillips, TradeBid Commercial Director, said: “Helping dealers scale their stock has always been at the heart of our business. For many, one of the main hurdles has been building their stock volumes at a competitive rate without having to outlay the cash for these vehicles upfront. NextGear Capital’s offering has changed that. Now, customers can source larger volumes of vehicles without sacrificing capital.”

Darren Mornin, Managing Director at NextGear Capital, comments: “With stock supply as it is today, it’s important to be agile so you can buy decisively when the opportunity arises. In a fast-moving and highly competitive market for dealers, the ability to source the right stock at the right time and price is critical. Working with TradeBid, we are enabling dealers to tap into the extensive benefits of a stocking plan, reduce their financial friction and scale their inventory without tying up capital on their forecourts.” 

NextGear Capital funding is live and available for users on the TradeBid platform at www.tradebidauctions.com.