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Startup Powersports Lessor Slated for Launch

Startup Powersports Lessor Slated for Launch

by February 21, 2017 at 1:18 pm

There’s a new powersports lessor in town, Speed Leasing LLC, and it is slated for launch March 1, Partner Hasham Malik told Powersports Finance today. Speed Leasing, funded by an undisclosed private equity firm, was formed at the end of last year, and plans to have its dealer agreements inRead More

Twitter Chat Results: What’s the Deal With Dealer Training?

Twitter Chat Results: What’s the Deal With Dealer Training?

by February 20, 2017 at 11:17 am

Dealer training — or lack thereof — is a major challenge for powersports industry leaders, but in what areas is dealer training lagging? Where is the greatest need within the F&I office? These were the penultimate questions during the Powersports Finance Twitter Chat on Friday. Experts weighed in on whatRead More

Riders Share Aims to Lower Delinquencies With Bike Rentals

Riders Share Aims to Lower Delinquencies With Bike Rentals

by February 17, 2017 at 11:30 am

Riders Share, a peer-to-peer motorcycle rental company, in trying to help consumers offset their monthly loan or lease payments — and subsequently lower the company’s delinquency rates, Co-Founder Guillermo Cornejo told Powersports Finance. Based in Orange County, Calif., the service offers a listing of individually-owned bikes for rent, and a wayRead More

Harley-Davidson Financial Boosts Loss Provisions in 4Q

Harley-Davidson Financial Boosts Loss Provisions in 4Q

by February 17, 2017 at 10:00 am

Harley-Davidson Financial Services loan-loss provision shot up 119% year over year — to $39.8 million — in 2016, driven by higher retail credit losses. The decline came amid a 2.3% year-over-year decline in originations, to $3.1 billion. Losses — up 40 basis points to 1.8% in 4Q16 — continue to reach record highs unseenRead More

Powersports Dealers Alter F&I Strategy to Adapt to Millennial Buyers

Powersports Dealers Alter F&I Strategy to Adapt to Millennial Buyers

by February 16, 2017 at 12:53 pm

Powersports lenders are struggling to adapt to millennial buyers entering the market as the baby boomers age out, which has spurred more pressure on dealers in the F&I office. One of the larger issues with a younger generation of buyers is that they want to “get too much bike” forRead More

Finance Incentives Offer Slim Benefits for Powersports Dealer

Finance Incentives Offer Slim Benefits for Powersports Dealer

by February 15, 2017 at 2:14 pm

Powersports dealers are struggling to fit “square-peg” consumers into “round holes,” or in other words, attracting subprime consumers with prime-targeted, OEM-sponsored incentive offers, Chris Clovis, dealer principle of Freedom EuroCycle Las Vegas and BMW Motorcycles of Las Vegas, told Powersports Finance. The OEM-sponsored finance incentives that have come out in recentRead More

Octane Lending Takes Cautious Approach to Scaling Finance Startup

Octane Lending Takes Cautious Approach to Scaling Finance Startup

by February 14, 2017 at 1:49 pm

Octane Lending might be in the market for additional lender partners to help back its new finance subsidiary Roadrunner Financial, Chief Executive Jason Guss told Powersports Finance. However, Octane is taking a conservative approach to scaling the business, to avoid complicating the operations with too many financial providers. Roadrunner Financial,Read More

Harley-Davidson to Lean on HDFS More in 2017, Despite Rising Losses

Harley-Davidson to Lean on HDFS More in 2017, Despite Rising Losses

by February 13, 2017 at 1:10 pm

It appears that Harley-Davidson Inc. will be relying more on its captive Harley-Davidson Financial Services this year — despite rising credit losses — as more discounts and financial incentives are anticipated from foreign manufacturers. “Harley-Davidson’s primary promotional tool over the years has been financing incentives,” said James Hardiman, managing directorRead More