Carmel, Ind., March 29, 2019 – With deep sadness, NextGear Capital announces the passing of John Fuller, company founder and a pioneer in automotive dealer financing.
Fuller was a true innovator in the field of floor planning, a segment of the automotive industry that provides dealers with funding to purchase vehicle inventory. He founded the top two independent floor planning companies, Automotive Finance Corp. and Dealer Services Corporation.
After selling his first company, Automotive Finance Corp., Fuller started Dealer Services Corporation in 2005 before selling it to Manheim, the leading provider of used vehicle services. The merger resulted in a rebrand, and NextGear Capital launched in 2013, becoming the largest floor plan provider for independent dealers, currently serving more than 20,000 clients. NextGear Capital and Automotive Finance Corp. (AFC) continue to be important members of the Carmel, Ind., business community.
Fuller had a passion for serving independent dealers, who often had limited financing options before the launch of his companies. Many independent dealers relied solely on cash to acquire vehicles for resale. Fuller’s companies provided the funding these smaller, non-franchised dealers needed to purchase inventory, finance their operations and run successful businesses.
“John Fuller had an entrepreneurial spirit that continues to shape our company and industry,” said Shane O’Dell, who oversees NextGear Capital as president of Cox Automotive Financial Solutions Group. “He saw a need in the market and worked tirelessly to fill that gap with the highest level of customer service. John leaves a lasting legacy that we try to live up to every day.”
An Indianapolis native, Fuller, 75, passed away Wednesday, March 27, in Pompano Beach, Fla. He is survived by his wife Barb as well as his first wife Sue and six children, in addition to 14 grandchildren and 15 great-grandchildren.
About NextGear Capital
NextGear Capital is the largest independent inventory finance company in North America, providing flexible lines of credit for dealers to purchase new and used inventory at over 1,000 auto and specialty auctions and other inventory sources throughout the United States. The company’s products and services allow dealers to floor plan nearly any type of remarketed unit in automotive retail, wholesale, salvage or specialty. With a customer base of more than 20,000 dealers, NextGear Capital also provides a robust array of services and support that allow dealers to acquire and sell more inventory, including state-of-the-art online and mobile account management tools, title services, records management and collateral protection. The company is headquartered in Carmel, Indiana and is part of the Cox Automotive group of companies, which includes Autotrader, Kelley Blue Book, Manheim and vAuto. Visit nextgearcapital.com to learn more.
