CD Auction Group has signed an agreement with wholesale stocking plan provider NextGear Capital UK, to offer buyers a new way to pay for vehicles bought through the Cars Direct online auction.

The agreement means that dealers buying through Cars Direct can opt to set up a stocking plan with NextGear Capital and use it to fund vehicles, giving them the chance to increase, upgrade or diversify stock as well as improve cash flow.

CD Auction Group is the first fully-online auction company to partner with NextGear Capital and the stocking plan will be available for purchases through Cars Direct in the next few weeks. CD Auction Group is planning a special promotion sale for the launch.

Andy Brown, CD Auction Group managing director, said: ““The NextGear Capital Stocking Plan is cost effective, flexible and easy to manage. It also has some exciting options that could make a real difference to a dealer’s business and profitability.”

David Mercer, managing director of NextGear Capital, said: “CD Auction Group will be the first fully online auction to join the NextGear Capital auction partner network.”

Buyers registered with CD Auction Group can apply for a stocking plan online at www.nextgearcapital.co.uk and once approved, opt to pay for vehicles bought through Cars Direct using the plan.