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Dealer Direct to Relocate HQ on Heels of Doubling Originations

Dealer Direct to Relocate HQ on Heels of Doubling Originations

by January 18, 2017 at 11:30 am

First Community Bank’s continued origination growth has spurred the company — and its powersports finance subsidiary Dealer Direct — to relocate to a larger office space within the next 18 months, Senior Vice President Steve Wilcoxon told Powersports Finance. The Batesville, Ark.-based lender funded about 7,500 loans in 2016 forRead More

CFPB to Boost Regulation of Unfair Minority Lending

CFPB to Boost Regulation of Unfair Minority Lending

by January 17, 2017 at 11:30 am

Principles regarding redlining — the practice of denying services or loans to particular people based on race or ethnicity — are expected to be applied to powersports and auto finance, particularly as the Consumer Financial Protection Bureau has honed in on redlining as one of its top fair lending priorities forRead More

MotoLease Utilizes New Online Help Center to Track Complaints

MotoLease Utilizes New Online Help Center to Track Complaints

by January 13, 2017 at 11:30 am

MotoLease LLC wants to track consumer complaints more effectively — so it added an online Help Center to its website, as part of its continued effort to spur customer and dealer relations, Managing Partner Emre Ucer told Powersports Finance. “If we are doing something that isn’t perfect, we want to have a betterRead More

ATV Manufacturer Signs Northpoint as Exclusive Floorplan Financier

ATV Manufacturer Signs Northpoint as Exclusive Floorplan Financier

by January 12, 2017 at 11:30 am

Linhai Powersports USA Corp. signed with Northpoint Commercial Finance to provide exclusive floorplan financing for Linhai’s North American dealer network, the companies announced on Monday. Alpharetta, Ga.-based Northpoint invested in additional field staff to help manage Linhai’s dealer base and attract new dealers, which was a big contributing factor to sealingRead More

BRP Expands Retail Finance Options With Citi, Roadrunner Partnerships

BRP Expands Retail Finance Options With Citi, Roadrunner Partnerships

by January 11, 2017 at 11:30 am

Bombardier Recreational Products Inc. expanded its retail financing options with two new long-term agreements with Citi Retail Services and Roadrunner Financial, the company announced yesterday. Citi’s new partnership with BRP will include a private-label credit card and support for a new online dealer portal, which will provide authorized BRP dealers withRead More

Polaris Shuts Down Victory Brand, Finance Partners to Remain Intact

Polaris Shuts Down Victory Brand, Finance Partners to Remain Intact

by January 10, 2017 at 11:30 am

Polaris Industries Inc. announced yesterday that it will immediately begin winding down its Victory Motorcycles brand after 18 years of investing in the motorcycles. However, the closing is not expected to alter any financing arrangements Polaris currently has, Director of Investor Relations Richard Edwards told Powersports Finance. “We do not anticipateRead More

ARGO Launches Retail Finance Program With Dealer Direct, TD Auto

ARGO Launches Retail Finance Program With Dealer Direct, TD Auto

by January 9, 2017 at 11:30 am

Extreme terrain vehicle manufacturer ARGO signed an exclusive multi-year agreement to launch its first-ever retail finance program with Dealer Direct — the powersports division of Batesville, Ark.-based First Community Bank — and TD Auto Finance in Canada, Kevin Asselin, ARGO’s vice president of sales and marketing, told Powersports Finance. TheRead More

Royal Enfield Sketches Plans for First-Time Buyer Program

Royal Enfield Sketches Plans for First-Time Buyer Program

by January 6, 2017 at 11:30 am

Royal Enfield North America is mulling options to establish a first-time buyer program, which could include a revolving credit partnership, said Vice President of Sales Mike Roark. “I think [with] the price-point of our product, what makes sense is being able to do something on a credit card,” Roark toldRead More