Post Tagged with: "ThunderRoad Financial"

Lenders Lured to GPS, Yet Slow to Invest

Lenders Lured to GPS, Yet Slow to Invest

by May 19, 2017 at 10:00 am

As repossessions continue to rise, powersports lenders are looking for ways to help bolster vehicle recoveries. While GPS units are a useful device in auto finance used to assist lenders with the tracking and repossession of cars, the device hasn’t quite caught on in powersports — for many reasons. WithRead More

Down and Dirty: Competition Gets Messy as New Lenders Crowd the Market

Down and Dirty: Competition Gets Messy as New Lenders Crowd the Market

by May 17, 2017 at 10:44 am

About five or six years ago, the lending opportunity in the powersports market was wide open. As the industry recovered from the financial crisis, there was more demand than there was supply for powersports financing. Now, times have changed. Several new lending companies have entered the space — from captivesRead More

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

Powersports Finance Summer Issue Now Live

Powersports Finance Summer Issue Now Live

by May 2, 2017 at 9:44 am

The summer issue of the Powersports Finance Quarterly is now live, and available to current and new subscribers. In this issue, learn about whether the powersports finance market is too saturated for new  lenders to succeed, with insights from Yamaha Motor Finance Corp. USA, MotoLease LLC, ThunderRoad Financial, Wedbush Securities Inc., andRead 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

Change in License Terms Poised to Boost Slingshot Finance Volume

Change in License Terms Poised to Boost Slingshot Finance Volume

by April 10, 2017 at 10:59 am

Riders in 30 states can now drive a Polaris Slingshot with a valid state driver’s license — instead of a previously required motorcycle license — which could boost sales and even lower credit losses on the three-wheeled vehicles, according to Donal Hummer Jr., ThunderRoad Financial’s chief executive. ThunderRoad Financial isRead More

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

by April 3, 2017 at 11:34 am

Royal Enfield North America added nine dealers to its network in March, bringing the manufacturer closer to its goal of expanding nationwide, according to the OEM’s website. Royal Enfield is “actively recruiting” new dealer partners, and set a goal to add between five to 10 dealers per month to theRead 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