Performance & Pricing

Startup Powersports Lessor Seeks Series A Funding

Startup Powersports Lessor Seeks Series A Funding

by March 20, 2017 at 12:06 pm

CycleOne Financial is seeking an undisclosed amount of funding for the company’s first Series A round, President Logan Riley told Powersports Finance. The Orlando, Fla.-based powersports lessor launched in April 2015, and has raised $4 million in seed funding to-date, Riley said. CycleOne’s first seed round garnered the company $1Read More

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

by March 17, 2017 at 11:48 am

Polaris Industries Inc. reported a 10% year-over-year increase to $1.1 million in volume of revolving and installment credit contracts written in 2016, according to the company’s 2016 annual report. Consumers financed approximately 33% of Polaris’ vehicle sales in 2016 through the company’s combined retail finance arrangements with Performance Finance, SheffieldRead More

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

by March 16, 2017 at 12:03 pm

Rising floorplan finance interest rates — and manufacturer’s forcing too much inventory onto the dealer — prompted Buy Your Motorcycle to stop floorplan financing and sell four of its five dealerships, Owner Brad Van Horn told Powersports Finance. Arlington, Texas-based Buy Your Motorcycle now owns one dealership — and all of its inventoryRead More

Westlake Preps for Powersports Expansion, Monitors Rising Losses

Westlake Preps for Powersports Expansion, Monitors Rising Losses

by March 6, 2017 at 10:30 am

New entrant powersports lenders are spurring Westlake Financial Services to expand this year, but the company’s plans for 2017 will not include buying deeper in the credit band, said David Goff, assistant vice president of marketing. “We think right now is the right time to expand,” Goff told Powersports Finance.Read More

Credit Union Paves the Way to Launch Auto-Decisioning in Powersports

Credit Union Paves the Way to Launch Auto-Decisioning in Powersports

by February 24, 2017 at 11:48 am

America’s First Federal Credit Union (AFFCU) is mapping out plans to open up auto-decisioning in powersports, after expanding its auto loan origination system to buy deeper in the credit pool, Bob Jaffe, indirect loan manager, told Powersports Finance. “We have several initiatives underway to help improve efficiencies in our loanRead More

Powersports Finance Spring Issue Now Live

Powersports Finance Spring Issue Now Live

by February 23, 2017 at 11:30 am

The spring issue of Powersports Finance Quarterly is now live, and available to current and new subscribers. The digital publication marks the first issue of 2017. In this issue, learn about why millennials are demanding new underwriting strategies, with insight from LightStream, Westlake Financial Services, MotoLease LLC, and TDECU; and whether motorcycleRead 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

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