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 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, a 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, IN, 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 March 27, in Pompano Beach, FL. 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.
Link: NextGear Capital