Working with Kevin Egan Cars - NextGear Capital Ireland
Kevin Egan Cars is an independent dealership, selling two-to-five-year-old used vehicles. We opened our doors in 2009, and since 2013 we have increased our team from 2 to 19, with all business functions operating at a really high standard. During the past five years, our business is proud to have won multiple awards, including two Society of the Irish Motor Industry (SIMI) Car Dealer of the Year awards.
I originally heard about NextGear Capital when I learnt that they were looking for pilot dealerships through SIMI. I also had talks about their product through Belfast City Auctions, where I regularly purchase stock.
I decided to take a NextGear Capital Stocking Plan because I wanted to grow my business and since using it the Stocking Plan has had a hugely positive impact. We have increased our stock by almost 35%, which has led to the same impact on our sales. Most importantly it has helped us to define what really works for us, both in terms of what moves fast and what sells profitably. We now concentrate on a core sector of stock, buying better quality low-mileage vehicles, which we know can be forecourt-ready and sold quickly. NextGear Capital has allowed us to buy more of what sells well, and with 100% of auction invoice prices paid, our cashflow has improved.
A real stand-out is the second to none standard of customer service offered by NextGear Capital – every interaction I’ve had with them has been a pleasure. It’s always a seamless communication process whenever I speak to them, and whomever I speak to.
When it comes to technology, NextGear Capital has been leading the way for a while. The best thing about it is that their competitors have now followed suit, and are using the same products. This means that our accounts department can operate more smoothly, and keep track of invoices and daily transactions easily.
Using the Stocking Plan at auctions has been incredibly easy – sometimes I have to pinch myself because it feels too good to be true! It’s possible to buy 10 cars in one auction, with the entire cost taken care of. It’s been especially beneficial for our business because NextGear Capital help us to buy UK cars by taking care of all the hassle of UK VAT. From an admin point of view, our business saves an unbelievable amount of time and money.
The best thing about using a NextGear Capital Stocking Plan is that it allows me to increase my buying power, which in turn increases sales. In one sentence, NextGear Capital is customer orientated, with innovative products that can help any car dealer to be successful.
I would definitely recommend NextGear Capital to other dealers, and I have done so on several occasions. I’ve acted as a reference for other car dealers, and given them a personal recommendation to explain why they should deal with NextGear Capital.