Extreme terrain vehicle manufacturer ARGO signed an exclusive multi-year agreement to launch its first-ever retail finance program with Dealer Direct — the powersports division of Batesville, Ark.-based First Community Bank — and TD Auto Finance in Canada, Kevin Asselin, ARGO’s vice president of sales and marketing, told Powersports Finance.
The consumer financing was made available on Jan. 1 to New Hamburg, Ontario-based ARGO’s dealer network.
The program offers online applications using Dealer Direct’s or TD Auto’s website and the financing of bundled products, including accessories and extended warranties. Monthly payments with up to 60-month loan terms are offered in the U.S., and the same loan term with weekly or biweekly payment options are offered in Canada, Asselin said.
“The finance side of the business is extremely important in the recreational product purchase,” Asselin said. “Selling the payment and not the price is sometimes what the end consumer is actually looking for. So we feel that we will have pretty aggressive finance options available to make the ease of purchase a lot simpler for the ARGO consumer.”
When Dealer Direct launched, its main focus was to sign up independent dealers regionally, Steve Wilcoxon, Dealer Direct’s senior vice president, told Powersports Finance. “Now, here we are 12 years later and we are reaching out to dealers nationwide, as well as a variety of manufacturers.”
Dealer Direct makes loans for more than 1,800 dealers in the lower 48 states. “We ran over $73 million in volume through our program last year,” he said. “We are small, but we hope to continue to grow that.”
ARGO, which has 300 employees, provides extreme terrain vehicles (XTVs) to a network of 300 dealers across Canada and the U.S. XTVs are six- or eight-wheel ATVs, with an average price point of about $15,000.