Post Tagged with: "Synchrony Financial"

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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

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

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

Kawasaki Matches Captive Competitors With ‘Aggressive’ Rates

Kawasaki Matches Captive Competitors With ‘Aggressive’ Rates

by December 13, 2016 at 12:30 pm

Kawasaki Motors Corp. USA will take an “aggressive” approach to finance incentives in 2017, to ensure its dealers’ success, and to remain competitive against other OEMs — particularly those with retail finance captives, Senior Vice President of Sales Operations Bill Jenkins told Powersports Finance at the New York Progressive InternationalRead More

5 OEMs Kicking Off the Holidays With Finance Incentives

5 OEMs Kicking Off the Holidays With Finance Incentives

by November 25, 2016 at 11:00 am

While Black Friday finance promotions are not common in powersports, with the exception of dealer-offered incentives, many manufacturers are amping up holiday promotions to ease through the slow selling season and prepare dealers for new 2017 inventory, according to analysts. There is a “lull” in the season that hits aroundRead More

OEM Steers Away From Subsidized Financing, For Now

OEM Steers Away From Subsidized Financing, For Now

by November 22, 2016 at 12:59 pm

KTM North America does not see the need to offer subsidized financing yet — while interest rates are still low — despite the slew of powersports manufacturers that are offering financing promotions, said President Jon-Erik Burleson. “For the last two years, the prevailing interest rate has been relatively low,” addedRead More

KTM North America on Lookout for Leasing Partner

KTM North America on Lookout for Leasing Partner

by November 14, 2016 at 12:00 pm

KTM North America is on the hunt for a leasing partner to offer alternative retail financing options to consumers in order to shorten the buying cycle, said Jon-Erik Burleson, the off-road vehicle manufacturer’s president. “We are looking at some things that we haven’t in the past,” Tom Etherington, KTM’s viceRead More

CFMOTO Signs With Synchrony Financial for Exclusive Financing

CFMOTO Signs With Synchrony Financial for Exclusive Financing

by November 8, 2016 at 11:00 am

Synchrony Financial has signed on to be the exclusive provider of consumer financing for CFMOTO USA, the company’s announced yesterday. The multi-year agreement will allow qualifying buyers to access promotional installment financing offers through CFMOTO dealers, according to a company press release. Hangzhou, China-based CFMOTO does business in more thanRead More