Chrome Capital doubled its year-over-year lease originations in 2015, Peter Wasmer, Chrome’s founder, president, and chief executive, told Powersports Finance. “We will double that again in 2016,” he added.
Chrome, a Naples, Fla.-based lease provider, primarily credits its growth to the company’s strong network of dealers, Wasmer said. The lender currently services 750 dealers, with plans to add another 200 to its roster in 2016, he added.
Chrome offers leases across the credit spectrum for preowned Harley-Davidson motorcycles and new Indian and Victory motorcycles. “We have an exclusive arrangement with Polaris for leasing new Indian and Victory bikes at a limited number of participating dealers,” Wasmer said.
Commensurate with the company’s growth, Chrome Capital also relocated its headquarters to a larger office space on February 1. “We moved into a new 10,000 square-foot office to assist in accommodating the growth in the employees that we have,” Wasmer said. “We nearly doubled [our team] in 2015, and we will probably grow another 30% this year.” The company expects to add 15 people to its team this year between sales support and administration, he added.
About 20% to 25% of consumers Chrome Capital leases are considered prime, 60% are middle credit, and the remaining percentage are subprime or below, Wasmer said.