NextGear Capital is out with its fourth overall securitization in a $328 million pool of inventory floorplan financing for primarily independent auto dealers of used cars.

NextGear Floorplan Master Owner Trust 2016-1 is an ABS of two pools of auto and specialty vehicle loan receivables from dealers using the funds to purchase used cars and trucks from auto auctions that include inventory from other dealers as well as salvage-title cars.  One pool covers primarily the wholesale used vehicle purchase financing; the second group is for the acquisition of specialty watercraft, recreational, heavy-duty truck and salvage title vehicles.

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