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ThunderRoad Financial Strives to Add 225 New Dealers

ThunderRoad Financial Strives to Add 225 New Dealers

by September 28, 2016 at 11:17 am

ThunderRoad Financial LLC has been making great strides since its launch just three years ago. The lender added 75 dealers to its network since May, with plans to stack another 225 by yearend, said Donal Hummer Jr., ThunderRoad’s president and chief executive. “We have about 375 dealers right now andRead More

Sportbike OEM in the Market for Retail Financier

Sportbike OEM in the Market for Retail Financier

by September 27, 2016 at 10:52 am

With its wholesale finance captive in place, American sportbike manufacturer EBR Motorcycles is now on the hunt for a retail financier, said Steve Smith, the OEM’s chief executive. “We are talking with a few folks right now,” he told Powersports Finance. Currently, “a lot of our deals are done throughRead More

Jet Ski Ultra 310LX

Kawasaki Renews Multi-Year Agreement With Synchrony

by September 26, 2016 at 10:38 am

Kawasaki Motors Corp. USA resigned with Synchrony Financial, extending a consumer financing relationship that dates back to 2010, the companies announced today. The multi-year renewal will expand consumer financing options and exclusive offers for Kawasaki’s powersports products, which include motorcycles, ATVs, side-by-sides, and jet-skis, through the OEM’s network of 1,100Read More

Increased Regulation Coming to Powersports

Increased Regulation Coming to Powersports

by September 23, 2016 at 10:30 am

The Department of Defense released new guidance on the Military Lending Act in late August, which could have implications for the powersports finance industry, said David Gemperle, partner at law firm Nisen & Elliott LLC. The MLA limits the military annual percentage rate (MAPR) that a creditor may charge to a maximum of 36%. TheRead More

Startup Lender Invests $1 Million in Tech

Startup Lender Invests $1 Million in Tech

by September 22, 2016 at 10:46 am

BOSTON — Ride Today Acceptance has invested “well over $1 million” in technology developments in the past 12 months, Ben Donnarumma, managing director at Ride Today Acceptance told Powersports Finance. Among those investments are its plans to roll out TCI’s DecisionLender 4 loan origination system as well as a virtual layaway program,Read More

More ABS Issuances Expected for Powersports, ThunderRoad CEO Says

More ABS Issuances Expected for Powersports, ThunderRoad CEO Says

by September 21, 2016 at 11:31 am

The powersports industry can expect to see more ABS issuances, especially as captives continue to emerge, said Donal Hummer Jr., president and chief executive of ThunderRoad Financial LLC. For example, Polaris Industries partnered with FreedomRoad Financial to launch Performance Finance, a “captive-like” retail finance program on Sept. 1. At some pointRead More

CDF Teams Up With NPA to Launch Finance Program

CDF Teams Up With NPA to Launch Finance Program

by September 20, 2016 at 12:22 pm

Wells Fargo Commercial Distribution Finance teamed up with National Powersport Auctions to launch a finance program that will help independent dealers maintain ideal inventory levels throughout the sale cycle, according to a company press release. The new venture will also provide dealers with inventory financing to help minimize capital outlays forRead More

ThunderRoad Delays Second Securitization

ThunderRoad Delays Second Securitization

by September 19, 2016 at 12:26 pm

ThunderRoad Financial LLC has delayed the issuance of its second asset-backed securitization in an effort to drum up greater investor interest, said Donal Hummer Jr., the company’s president and chief executive. “We’re probably going to be looking now at the first quarter of next year,” he told Powersports Finance. “InRead More