Post Tagged with: "FreedomRoad Financial"

Lenders Turn to Dealers as Fraudulent Loan Activity Escalates

Lenders Turn to Dealers as Fraudulent Loan Activity Escalates

by May 12, 2017 at 11:07 am

Consumer fraud continues to rise, as evidenced by two men who were arrested this week for producing fraudulent documents to finance the purchase of motorcycles from three dealerships in Long Island, N.Y. One of the men produced a fraudulent license and a fraudulent credit card to obtain a loan, toRead More

OEM’s Answer to ‘Why Get a Motorcycle?’ [VIDEO]

OEM’s Answer to ‘Why Get a Motorcycle?’ [VIDEO]

by May 4, 2017 at 11:46 am

Zero Motorcycles launched a video entitled “For Us?” which humorously depicts a typical dilemma for many motorcycle riders: How to explain a motorcycle purchase to their spouse. The electric motorcycle manufacturer developed the video concept, and Ian Schiller, independent filmmaker, brought the short clip to life. “Why get a motorcycle?Read More

Consumer Fraud On the Rise, Lenders Advise Best Practices

Consumer Fraud On the Rise, Lenders Advise Best Practices

by April 26, 2017 at 11:43 am

Fraudulent activity — identity theft — is on the “upswing” in powersports, with fraud rings becoming more prevalent in the past few months, said Tom Collins, executive vice president and managing director at FreedomRoad Financial. Either more accounts are fraudulent, or FreedomRoad is catching it more often on the frontend,Read More

Photo by William Hoffman / Royal Media Group

Polaris Retail Finance Penetration Drops in 1Q

by April 25, 2017 at 12:11 pm

Polaris Industries Inc.‘s retail finance penetration rate declined to 31% in the first quarter, despite a higher credit approval rate, according to the OEM’s earnings report, released today. By comparison, Polaris reached 40% penetration on a 57% approval rate in the first quarter of 2016. The decline in penetration wasRead More

Captives Offer ‘Competitive Advantage,’ Analyst Says

Captives Offer ‘Competitive Advantage,’ Analyst Says

by April 17, 2017 at 11:02 am

Captive finance arms offer a “pretty big competitive advantage” for powersports OEMs, particularly in an environment where independent finance companies are “coming and going,” James Hardiman, managing director of equity research at Wedbush Securities Inc., told Powersports Finance. For example, Speed Leasing LLC began underwriting leases on April 1. SpeedRead More

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

by March 17, 2017 at 11:48 am

Polaris Industries Inc. reported a 10% year-over-year increase to $1.1 million in volume of revolving and installment credit contracts written in 2016, according to the company’s 2016 annual report. Consumers financed approximately 33% of Polaris’ vehicle sales in 2016 through the company’s combined retail finance arrangements with Performance Finance, SheffieldRead 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

Polaris 4Q Results: Retail Finance Penetration Ticks Up to 33%

Polaris 4Q Results: Retail Finance Penetration Ticks Up to 33%

by January 24, 2017 at 11:30 am

Polaris Industries Inc. announced higher retail finance penetration rates — 33% — for the full-year 2016, up from 31% in 2015, thanks to successful financial promotions and the launch of Performance Finance, Mike Speetzen, Polaris’ executive vice president of finance and chief financial officer, said during the OEM’s fourth-quarter earningsRead More