Post Tagged with: "dealers"

American Cycle Sets Monthly Goal for Dealers, Ramps Up Training

American Cycle Sets Monthly Goal for Dealers, Ramps Up Training

by April 14, 2017 at 12:26 pm

American Cycle Finance set a monthly contract goal for its dealers in an effort to increase volume following the company’s acquisition by Cardiff International Inc., Ben Donnarumma, managing director of American Cycle, told Powersports Finance. American Cycle — formerly known as Ride Today Acceptance — makes loans in 15 statesRead More

Industry Consolidation Brings Big Banks More Business, Dealer-Operator Says

Industry Consolidation Brings Big Banks More Business, Dealer-Operator Says

by April 4, 2017 at 12:35 pm

As more powersports dealerships consolidate from standalone shops into dealer groups — a trend that is expected to continue this year — the larger banks and financial institutions will begin to see more dealer business, Ozzie Giglio, dealer-operator for The Windy City Motorcycle Co., told Powersports Finance. Dealer acquisitions haveRead More

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

by April 3, 2017 at 11:34 am

Royal Enfield North America added nine dealers to its network in March, bringing the manufacturer closer to its goal of expanding nationwide, according to the OEM’s website. Royal Enfield is “actively recruiting” new dealer partners, and set a goal to add between five to 10 dealers per month to theRead More

3 Best Compliance Practices for Dealer Management

3 Best Compliance Practices for Dealer Management

by March 30, 2017 at 11:23 am

As the powersports industry approaches what is considered by most a busy season, lenders will need to devote time and resources to compliance due diligence practices, with particular emphasis on dealer management and monitoring consumer complaints. Specifically, lenders must make sure their dealer partners are properly licensed and have solidRead More

Powersports Expansion on the Road Map for Westlake

Powersports Expansion on the Road Map for Westlake

by March 28, 2017 at 11:19 am

Westlake Financial Services is eyeing expansion for its powersports portfolio this year, from adding new dealers to the network, to launching e-contracting, according to David Goff, the lender’s assistant vice president of marketing. Westlake will roll out e-contracting to powersports dealers this year, shortly after the nationwide expansion of e-contracting toRead 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

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

Finance Incentives Offer Slim Benefits for Powersports Dealer

Finance Incentives Offer Slim Benefits for Powersports Dealer

by February 15, 2017 at 2:14 pm

Powersports dealers are struggling to fit “square-peg” consumers into “round holes,” or in other words, attracting subprime consumers with prime-targeted, OEM-sponsored incentive offers, Chris Clovis, dealer principle of Freedom EuroCycle Las Vegas and BMW Motorcycles of Las Vegas, told Powersports Finance. The OEM-sponsored finance incentives that have come out in recentRead More