Post Tagged with: "subprime"

MotoLease Revs Up New Inventory Website, Dealer Portal

MotoLease Revs Up New Inventory Website, Dealer Portal

by May 18, 2017 at 10:00 am

MotoLease LLC is bolstering its technology initiatives this year, starting with a new dealer inventory website, Managing Partner Emre Ucer told Powersports Finance. The new site will allow authorized dealers to list inventory, and consumers can view the pricing, estimate monthly payments, and pre-qualify for loans, Ucer said. The websiteRead More

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

Ride Today Acceptance Rebrands, Post $5MM Cardiff Acquisition

Ride Today Acceptance Rebrands, Post $5MM Cardiff Acquisition

by April 7, 2017 at 11:36 am

Cardiff International Inc. signed a definitive merger agreement to acquire American Cycle Finance — formerly known as Ride Today Acceptance — as its subsidiary, in an all-stock transaction valued at $5 million. The name change is just part of “our strategic planning,” Ben Donnarumma, managing director of American Cycle, toldRead More

Commerce Bank Watchful of Auto Delinquencies, Tightens Credit

Commerce Bank Watchful of Auto Delinquencies, Tightens Credit

by April 6, 2017 at 10:00 am

DALLAS — Auto delinquencies are rising across the industry, but the increase has been most prominent in subprime segments. Although Commerce Bank mainly extends auto loans in the prime spectrum, it’s still keeping a watchful eye, said Robert Griffin, the bank’s indirect lending manager.

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

Startup Powersports Lessor Seeks Series A Funding

Startup Powersports Lessor Seeks Series A Funding

by March 20, 2017 at 12:06 pm

CycleOne Financial is seeking an undisclosed amount of funding for the company’s first Series A round, President Logan Riley told Powersports Finance. The Orlando, Fla.-based powersports lessor launched in April 2015, and has raised $4 million in seed funding to-date, Riley said. CycleOne’s first seed round garnered the company $1Read 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

Westlake: 3 Tips to Improve Dealer Training Efforts

Westlake: 3 Tips to Improve Dealer Training Efforts

by March 13, 2017 at 12:28 pm

Powersports dealer portals will likely become more consistent among lenders as competition continues to amp up, and as lenders look to match what other players are doing — which could also result in dealer training becoming an easier task, said David Goff, assistant vice president of marketing at Westlake Financial Services.Read More