Harley-Davidson Motor Co. appears poised to offer a “lease-like” program through one of the “big agencies” in the rental space to offer non-traditional leases, said a source who asked to remain unnamed. The source was unsure if this agency will be EagleRider or another rental company. While the specifics ofRead More
United Finance is “looking at possibilities” in fintech and online lending in order to be “ahead of the curve,” Todd May, the lender’s vice president of dealer development and remarketing, told Powersports Finance. “There’s always stuff we are looking at, such as fintech,” May said. “Disrupters are coming, and weRead More
Iconic motorcycle manufacturer Harley-Davidson Inc. has had a rough couple years, from competing for marketshare with other manufacturers — who undertook aggressive discounting in 2015 and 2016 — to a slowing demand for its new motorcycles in the U.S. Not to mention that losses for Harley-Davidson Financial Services — which wereRead More
DALLAS — Commerce Bank isn’t pulling back on its longest auto loan-term offering of 75 months, but it is “encouraging” deals at 60- and 48-month terms, as part of a larger effort to tighten overall credit requirements, said Robert Griffin, the company’s indirect lending manager. To accomplish this, Commerce Bank isRead More
Riders in 30 states can now drive a Polaris Slingshot with a valid state driver’s license — instead of a previously required motorcycle license — which could boost sales and even lower credit losses on the three-wheeled vehicles, according to Donal Hummer Jr., ThunderRoad Financial’s chief executive. ThunderRoad Financial isRead More
Cardiff International Inc. signed a definitive merger agreement to acquire American Cycle Finance — formerly known as Ride Today Acceptance — as its subsidiary, in an all-stock transaction valued at $5 million. The name change is just part of “our strategic planning,” Ben Donnarumma, managing director of American Cycle, toldRead More
ARGO launched a 0% financing incentive, just three months after the extreme terrain vehicle manufacturer teamed up with Dealer Direct to offer its first-ever retail finance program. The spring promotion, dubbed Ride Into Adventure, offers 0% financing for 60 months, plus a three-year limited warranty and $2,000 in free accessoriesRead More
DALLAS — Auto delinquencies are rising across the industry, but the increase has been most prominent in subprime segments. Although Commerce Bank mainly extends auto loans in the prime spectrum, it’s still keeping a watchful eye, said Robert Griffin, the bank’s indirect lending manager.