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Canadian Bank to Acquire Northpoint Commercial Finance

Canadian Bank to Acquire Northpoint Commercial Finance

by May 22, 2017 at 11:51 am

Laurentian Bank of Canada reached a definitive agreement under which a subsidiary of the bank, LBC Capital, will acquire Northpoint Commercial Finance. The transaction, which the companies announced last week, is expected to close before fiscal yearend 2017 — subject to regulatory notifications and approvals, according to a press release.Read More

Lenders Lured to GPS, Yet Slow to Invest

Lenders Lured to GPS, Yet Slow to Invest

by May 19, 2017 at 10:00 am

As repossessions continue to rise, powersports lenders are looking for ways to help bolster vehicle recoveries. While GPS units are a useful device in auto finance used to assist lenders with the tracking and repossession of cars, the device hasn’t quite caught on in powersports — for many reasons. WithRead More

MotoLease Revs Up New Inventory Website, Dealer Portal

MotoLease Revs Up New Inventory Website, Dealer Portal

by May 18, 2017 at 10:00 am

MotoLease LLC is bolstering its technology initiatives this year, starting with a new dealer inventory website, Managing Partner Emre Ucer told Powersports Finance. The new site will allow authorized dealers to list inventory, and consumers can view the pricing, estimate monthly payments, and pre-qualify for loans, Ucer said. The websiteRead More

Down and Dirty: Competition Gets Messy as New Lenders Crowd the Market

Down and Dirty: Competition Gets Messy as New Lenders Crowd the Market

by May 17, 2017 at 10:44 am

About five or six years ago, the lending opportunity in the powersports market was wide open. As the industry recovered from the financial crisis, there was more demand than there was supply for powersports financing. Now, times have changed. Several new lending companies have entered the space — from captivesRead More

UTV Manufacturer Looks to Expand Dealer Finance Offering

UTV Manufacturer Looks to Expand Dealer Finance Offering

by May 16, 2017 at 10:46 am

American LandMaster, an off-road utility vehicle manufacturer, seeks to increase the number of months it offers dealer partners with free floorplan financing to six months — up from its three-month offering — in an effort to remain competitive, Marketing Director Eric Hall told Powersports Finance. “As we add new dealers,Read More

Photo by William Hoffman / Royal Media Group

BREAKING: Honda Partners With Citi for Revolving Credit Program

by May 15, 2017 at 11:51 am

American Honda Motor Co., in partnership with Citi Retail Services, launched the Honda Powersports Revolving Finance Program, along with several dealer incentives, according to a document shared with Powersports Finance. Honda and Citi will offer “fully integrated marketing programs,” special financing for up to 72-month terms, an exclusive rebate offerRead More

Lenders Turn to Dealers as Fraudulent Loan Activity Escalates

Lenders Turn to Dealers as Fraudulent Loan Activity Escalates

by May 12, 2017 at 11:07 am

Consumer fraud continues to rise, as evidenced by two men who were arrested this week for producing fraudulent documents to finance the purchase of motorcycles from three dealerships in Long Island, N.Y. One of the men produced a fraudulent license and a fraudulent credit card to obtain a loan, toRead More

MotoLease to Host Second Dealer Seminar This Fall

MotoLease to Host Second Dealer Seminar This Fall

by May 11, 2017 at 12:08 pm

MotoLease LLC is planning another dealer seminar for September, following a successful training session in late April, Managing Partner Emre Ucer told Powersports Finance. The September seminar will be offered over two days, with a focus on training dealers to use some of MotoLease’s new product and system enhancements —Read More