Post Tagged with: "risk"

CycleOne to Offer New Motorcycle, Prime Financing

CycleOne to Offer New Motorcycle, Prime Financing

by April 5, 2017 at 12:43 pm

CycleOne Financial will expand its breadth of offerings to include new motorcycle financing, after the startup expands its leasing limit — the amount it approves consumers for — beyond $12,000, President Logan Riley told Powersports Finance. Orlando, Fla.-based CycleOne Financial is a subprime lessor that leases all pre-owned motorcycles included in the NADARead More

Exiting Subprime Powersports Lenders Could Spur Dealer Co-Signers

Exiting Subprime Powersports Lenders Could Spur Dealer Co-Signers

by March 15, 2017 at 10:59 am

Shared-risk recourse financing — when the dealership guarantees the paper, and essentially co-signs the loan — between dealerships and lenders could reemerge in powersports if subprime lending options falter, Chris Clovis, dealer principle of Freedom EuroCycle Las Vegas and BMW Motorcycles of Las Vegas, told Powersports Finance. This risk sharingRead More

MotoLease Pursues Partnership With Training Association to Educate Millennials

MotoLease Pursues Partnership With Training Association to Educate Millennials

by March 10, 2017 at 1:08 pm

MotoLease LLC is chasing a partnership with a national training association to provide risk advising and motorcycle safety classes for younger buyers, Managing Partner Emre Ucer told Powersports Finance. “That audience is one of our sweet spots, and a large part of our portfolio is thin-file,” Ucer said. “There isRead More

Westlake Preps for Powersports Expansion, Monitors Rising Losses

Westlake Preps for Powersports Expansion, Monitors Rising Losses

by March 6, 2017 at 10:30 am

New entrant powersports lenders are spurring Westlake Financial Services to expand this year, but the company’s plans for 2017 will not include buying deeper in the credit band, said David Goff, assistant vice president of marketing. “We think right now is the right time to expand,” Goff told Powersports Finance.Read More

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

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

Powersports Lenders Strengthen Subprime Approvals With Co-Signers

by November 4, 2016 at 11:44 am

LAS VEGAS — Powersports lenders are asking for a co-signer in an effort to strengthen subprime loan approvals, in the wake of a higher level of subprime consumers applying for loans this year, said Donal Hummer Jr., president and chief executive of ThunderRoad Financial. With delinquencies risings and losses peakingRead More

ThunderRoad: Lenders Need to Update Scorecards Regularly, Include Child Support

ThunderRoad: Lenders Need to Update Scorecards Regularly, Include Child Support

by October 20, 2016 at 11:30 am

LAS VEGAS — Powersports lenders need to adjust their scorecards regularly to take new metrics into consideration — including child support payments — as delinquencies and losses continue to rise in the subprime spectrum of the powersports finance space, Donal Hummer, the company’s president and chief executive, told attendees at PowerSports Finance 2016.Read More

Startup Maps Plan to Address Dealers’ Subprime Dilemma

Startup Maps Plan to Address Dealers’ Subprime Dilemma

by October 20, 2016 at 10:30 am

BOSTON — The only sounds heard inside Ride Today Acceptance’s Beverly, Mass.-based office are the clacking of keyboards and friendly phone calls as employees busily field inquiries from customers and dealers. Papers are practically spilling off the desks — hopefully a sign of success, and certainly a sign of theRead More