Post Tagged with: "National Powersport Auctions"

Lenders Slowly Increase Used Financing Credit as Consumer Demand Rises

Lenders Slowly Increase Used Financing Credit as Consumer Demand Rises

by March 3, 2017 at 10:30 am

Think about all the wear and tear typically put on cars. They’re driven thousands of miles every year; people spill food and drink all over their interiors; and they’re often exposed to the elements where rain, snow, salt, wind, and dust take their toll. After 14 years, many cars areRead More

NPA: Repossessions Rise 10% YoY Amid New Entrant Lenders

NPA: Repossessions Rise 10% YoY Amid New Entrant Lenders

by January 25, 2017 at 12:40 pm

National Powersport Auctions saw a “modest rise” in repossession volumes in 2016, Chief Operating Officer Jim Woodruff told Powersports Finance. However, default rates remain stable, even lower than the expectations of many lenders in the space. Overall, total repossession volume is up almost 10% in 2016, as compared to 2015,Read More

Countdown to 2017: Top 5 Tech Stories of 2016

Countdown to 2017: Top 5 Tech Stories of 2016

by December 27, 2016 at 10:30 am

Many powersports lenders increased investments in digital capabilities in 2016 to boost loan and lease volumes, amid what many industry experts considered a flat growth year. MotoLease LLC, for example, launched a consumer mobile app with self-service functionality. Additionally, National Powersport Auctions partnered with CyclePro, a software platform dedicated toRead More

NPA: Default Rates Expected to Tick Up in 2017

NPA: Default Rates Expected to Tick Up in 2017

by October 19, 2016 at 11:27 am

ORLANDO — Default rates are expected to rise going into 2017, particularly as new lenders continue to enter the space or increase their financing volume, Jim Woodruff, chief operating officer at National Powersport Auctions, told attendees at the AIMExpo last week. However, default rates are at all-time lows currently, WoodruffRead More

Is Citi Geared Up to Fill the Void?

Is Citi Geared Up to Fill the Void?

by October 10, 2016 at 10:55 am

With Capital One Financial Corp. exiting the powersports industry — allowing its revolving credit arrangements with OEM partners to gradually expire through the first quarter of 2017 — industry leaders are speculating which lender will fill the void. As of September, no lender had thrown its proverbial hat into the ring. ItRead More

Untapped Finance Offerings Stunts Industry Growth

Untapped Finance Offerings Stunts Industry Growth

by October 6, 2016 at 10:30 am

LAS VEGAS — Approximately 14 million people rode a motorcycle in 2014, but didn’t own one, according to data from the Motorcycle Industry Council. “Why? They have enough interest to ride one,” Jim Woodruff, chief operating officer at National Powersport Auctions, said at PowerSports Finance 2016 yesterday. “I think one ofRead More

Preowned Financing Can Result in Less Risk, NPA Says

Preowned Financing Can Result in Less Risk, NPA Says

by September 29, 2016 at 12:38 pm

There is a lot of missed marketshare opportunity in preowned financing, said Jim Woodruff, chief operating officer at National Powersport Auctions, however, the financing of used powersports vehicles can actually be less risky to the lender, he added. In general, a new vehicle has a warranty backed by the OEM,Read More

CDF Teams Up With NPA to Launch Finance Program

CDF Teams Up With NPA to Launch Finance Program

by September 20, 2016 at 12:22 pm

Wells Fargo Commercial Distribution Finance teamed up with National Powersport Auctions to launch a finance program that will help independent dealers maintain ideal inventory levels throughout the sale cycle, according to a company press release. The new venture will also provide dealers with inventory financing to help minimize capital outlays forRead More