COLUMBUS, Ohio — DRR USA is scouting for a floorplan finance partner to help fuel the manufacturer’s growth, following the launch of its first adult ATV model, Owner Louis DeCuzzi told Powersports Finance during a meeting at AIMExpo 2017 last week.
“Specifically, our No. 1 goal is to get a good flooring program for our dealers; that will only fuel our growth,” he said. “Once we can get that piece done, our sales will double — there is no question about it.”
DRR has 125 dealers in its network across the central East Coast. Currently, the manufacturer offers dealer financing through PayPal. The program offers dealers with good credit 0% interest and zero payments for six months.
DRR has a commercial account with PayPal, which allows the OEM to invoice its dealers and PayPal will make the credit decision based on the dealership. “If their credit is worthy, PayPal will give them the credit line and we get paid right away,” he explained. However, the largest transaction PayPal can offer dealers is $50,000, which is why DRR is scouting for alternative options.
“A floorplan program will be a great pressure release for our dealers,” DeCuzzi said. Half of DRR’s dealers are dealer groups and the other half are smaller mom-and-pop shops, he said. Most of the larger dealerships are “tapped out and have used their credit line 100%.”
Brunswick, Ohio-based DRR — which typically specializes in youth ATVs and dirt bikes — offered a first look at its new adult utility ATV at the AIMExpo last week.The DRX 600cc includes standard electronic-powered steering, all-wheel drive, is also 100% manufactured in the U.S. The price starts at $6,999.
For more insights like this, attend the third annual PowerSports Finance 2017 conference, which is slated for Oct. 24-25 at the Wynn Las Vegas. The full agenda can be viewed here. To learn more — or to register — for this year’s event, visit the PowerSports Finance 2017 homepage here.2 - Readers Like This Article