Post Tagged with: "dealers"

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

Powersports F&I Brokers Might Gain Ground Amid New Lending Programs

Powersports F&I Brokers Might Gain Ground Amid New Lending Programs

by February 9, 2017 at 1:39 pm

Multi-line powersports dealers might start replacing finance managers with F&I brokers, particularly as manufacturers continue to launch retail finance programs and revolving credit partnerships, said Bruce Marcia, director of retail management consulting firm Bruce Marcia & Associates. “There’s been a lot of manufacturers that are getting into finance themselves, whichRead More

Credit Union Utilizes Special Events to Bulk Up Powersports Dealer Network

Credit Union Utilizes Special Events to Bulk Up Powersports Dealer Network

by February 7, 2017 at 12:41 pm

America’s First Federal Credit Union (AFFCU) upped its powersports dealer network and loan origination volume in 2016, thanks to participating in more dealer-specific events, Bob Jaffe, indirect loan manager, told Powersports Finance. The Birmingham, Ala.-based credit union added five dealers last year, bringing its total network up to 30 dealers, JaffeRead More

EFG Aims to Lower Defaults With Powertrain Protection

EFG Aims to Lower Defaults With Powertrain Protection

by January 23, 2017 at 11:30 am

EFG Companies is hoping to reduce consumers defaulting on their loans — as well as foster preowned motorcycle unit sales — with the launch of its 1,000,000 Mile Limited Powertrain Protection program, said Glenice Wilder, EFG’s vice president of powersports. “As with some other aftermarket products, the powertrain protection keeps theRead More

MotoLease Delays Dealer Training Amid Busy Season

MotoLease Delays Dealer Training Amid Busy Season

by January 20, 2017 at 11:30 am

MotoLease LLC has delayed its first two-day dealer training seminar to late April in an effort to accommodate dealers during what — for most — is a busy selling season, Managing Partner Emre Ucer told Powersports Finance. The dealer training was originally scheduled for mid-February, Ucer said. “The problem isRead More

Dealer Training Deficit Sparks Opportunity for Lenders

Dealer Training Deficit Sparks Opportunity for Lenders

by January 4, 2017 at 11:30 am

The lack of dealer training is not just a challenge in the powersports industry; it’s an opportunity for lenders to gain marketshare — considering few lenders offer a defined dealer training program — said Chris Clovis, owner and operator of Freedom EuroCycle Las Vegas. “If a lender were to ask me, ‘WhatRead More