Post Tagged with: "consumer demand"

LendingTree Revs Up for Growth of Lender Network

LendingTree Revs Up for Growth of Lender Network

by January 27, 2017 at 11:30 am

Nearing its one-year anniversary since launching a dedicated powersports platform, online loan marketplace LendingTree is gearing up for growth of its powersports lender network, said Dimitar Alexandrov, vice president of product management. “It’s a small segment relative to our other platforms, including auto, but it’s a growing segment with lots ofRead More

Consumer Demand to Tick Up Over Two Years, Powersports Dealer Says

Consumer Demand to Tick Up Over Two Years, Powersports Dealer Says

by September 6, 2016 at 12:02 pm

Consumer demand for the purchase and financing of powersports vehicles is expected to tick up over the next two years, thanks to a majority of millennial buyers reaching their thirties — an age when they are more likely to have disposable income, said Chris Clovis, owner and operator of Freedom EuroCycleRead More

Lending Programs ‘Scarce’ in the Used Sector, Expert Says

Lending Programs ‘Scarce’ in the Used Sector, Expert Says

by July 25, 2016 at 11:00 am

There are many “holes and gaps” in the powersports finance industry, particularly when it comes to used-powersports vehicle financing where lending programs are scarce, said Jim Woodruff, chief operating officer at National Powersport Auctions. The lack of competition in the used-vehicle space can open the door for lenders to take advantage of a growingRead More

LightStream Aims to Grow Consumer Awareness

LightStream Aims to Grow Consumer Awareness

by June 16, 2016 at 11:00 am

Increasing consumer awareness of its powersports lending product is at the top of LightStream’s priority list, according to Todd Nelson, the company’s business development officer. “I think LightStream has a great product that serves the needs of many consumers in the powersports space, but very few people know about it,”Read More

ThunderRoad Originations Hike 279% YoY

ThunderRoad Originations Hike 279% YoY

by May 5, 2016 at 10:30 am

The powersports industry is in “growth mode,” according to Donal Hummer Jr., president and chief executive of ThunderRoad Financial. The Reno, Nev.-based lender’s portfolio alone has increased 279% to 5,717 loans as of January, up from 1,510 loans at the same time a year prior, according to a Morningstar report. “TheRead More

Low Awareness Sets Refinancing on Back Burner

Low Awareness Sets Refinancing on Back Burner

by April 28, 2016 at 10:30 am

Powersports refinancing demand has remained low, due in part to the small loan size, but also because there is a low level of consumer awareness, according to Roger Douville, underwriting director for refinance loan broker rateGenius. “Our [powersports] lender partners, with a few exceptions, have stayed away from that book ofRead More

Financing Incentives Heat Up the Powersports Market

Financing Incentives Heat Up the Powersports Market

by April 25, 2016 at 10:30 am

As powersports production amps up, many manufacturers are introducing financing incentives to boost vehicle sales, and Yamaha Motor Corp. is no exception. As part of its Get Out and Ride sales event, Yamaha will offer several promotions through June 30 via two of its financial providers, Synchrony Financial and CapitalRead More

Millennials Spark Change in Powersports Production, TDECU VP Says

Millennials Spark Change in Powersports Production, TDECU VP Says

by April 14, 2016 at 10:30 am

With millennial buyers beginning to take over the market, manufacturers will need to figure out how to appeal to the next generation, according to Chuck Smith, vice president and chief lending officer of Texas Dow Employees Credit Union (TDECU). One of the biggest challenges in powersports is figuring out howRead More