Performance & Pricing

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

4 OEMs Eye Lease-Like Offerings

4 OEMs Eye Lease-Like Offerings

by May 8, 2017 at 11:15 am

Several startups and independent finance institutions in the powersports space have shown interest in leasing in recent months, and now leasing is even snatching attention from manufacturers. From leasing providers like MotoLease LLC — which expanded its leasing program in June 2016 to include financing for low-dollar powersports vehicles —Read More

Dealer Sees Boost in Approvals After Partnering With Roadrunner

Dealer Sees Boost in Approvals After Partnering With Roadrunner

by May 5, 2017 at 11:30 am

Hubbard Powersports is experiencing a $50,000 boost in monthly loan approvals, after partnering with Roadrunner Financial seven months ago, Montana Hubbard, the dealership’s head of marketing, sales, and financing, told Powersports Finance. “It’s $50,000 worth of approvals that we never had before, but not all of that amount was fundedRead More

Registration Now Open for Powersports Finance 2017

Registration Now Open for Powersports Finance 2017

by May 4, 2017 at 11:55 am

Registration for the third annual PowerSports Finance 2017 officially opened yesterday. PowerSports Finance 2017 will take place Oct. 24-25, at the Wynn Las Vegas, directly preceding the 17th annual Auto Finance Summit. PowerSports Finance 2017 offers decision makers and top executives in powersports a forum to generate ideas for the industry’s future, develop aRead More

Credit Overhaul: Why Millennials Demand New Underwriting Strategies

Credit Overhaul: Why Millennials Demand New Underwriting Strategies

by May 3, 2017 at 11:10 am

Powersport dealers see young millennials come into their stores all the time looking for the largest, fastest, most-expensive sportbike on the market. That’s when the warning light starts flashing in a lender’s head. “They start all gung-ho: They want the Suzuki Gixxer, they want the Honda CBR, anything that goesRead More