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Westlake to Unveil Powersports E-Contracting to Speed Funding

Westlake to Unveil Powersports E-Contracting to Speed Funding

by March 2, 2017 at 1:51 pm

Westlake Financial Services plans to roll out e-contracting to powersports dealers this year, hoping to hasten funding, improve dealer and customer satisfaction, and boost loan volume, David Goff, Westlake’s assistant vice president of marketing, told Powersports Finance. The powersports e-contracting launch will shortly follow the nationwide expansion of e-contracting toRead More

First Online Powersports Dealer to Debut This Spring

First Online Powersports Dealer to Debut This Spring

by March 1, 2017 at 12:17 pm

E-commerce is coming to powersports with Revstop.com, a San Diego startup that is aiming to be the first completely online powersports dealer. The website, which appears to still be under construction, will allow consumers to shop, finance, and purchase a powersports vehicle without stepping foot into a dealership, according toRead More

Leasing Startup to Launch Dealer Portal

Leasing Startup to Launch Dealer Portal

by February 28, 2017 at 11:30 am

Startup Speed Leasing LLC is gearing up to launch its dealer portal, shortly after it launches operations on March 1, Partner Hasham Malik told Powersports Finance. Speed Leasing, funded by an undisclosed Miami-based private equity firm, plans to have its dealer agreements in place by the end of March and startRead More

Powersports ABS Issuances Expected to Slow, Morningstar Says

Powersports ABS Issuances Expected to Slow, Morningstar Says

by February 27, 2017 at 1:12 pm

Powersports lenders are likely to securitize at a slower pace this year — the select few who are looking into ABS issuances — as revenue growth has slowed due to turmoil in the oil and agriculture industry, Jaime Katz, equity analyst for Morningstar Inc., told Powersports Finance. ThunderRoad Financial issuedRead 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

Ross Motorsports Doubles Finance Income, Partners With MB Financial

Ross Motorsports Doubles Finance Income, Partners With MB Financial

by February 23, 2017 at 12:00 pm

Ross Motorsports doubled its finance income garnered through its seven lender partners in 2016, as compared with 2015, and expects more growth this year, thanks — in part — to a new partnership with MB Financial Bank, the dealership’s General Manager Ryan Williams told Powersports Finance. Ross Motorsports has been gathering adviceRead 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

Know Before You Owe: Regulatory Lessons Learned From Auto Finance

Know Before You Owe: Regulatory Lessons Learned From Auto Finance

by February 23, 2017 at 11:00 am

At the very least, lenders should identify who in the organization is responsible for compliance, and dedicate as many resources as possible toward creating a compliance system that management deems appropriate for the company’s size, complexity, and consumer risk profile, David E. Gemperle, partner at Nisen & Elliott LLC, toldRead More