Creating repeat, loyal customers is a prime way to sell more accessories at the dealership, and the lender can help generate that loyalty, Ben Donnarumma, President of American Cycle Finance, told Powersports Finance.
Subprime lender American Cycle Finance helps generate sales leads for dealerships by advertising on Craigslist, for example. It then sends potential customers to one of its 350 partnered dealerships.
“When you get a new customer in the door, they are going to need stuff,” Donnarumma said. “They are going to need a helmet, boots, gloves, goggles, oil, and service, so the incremental business that our company brings to dealers is invaluable because we bring in new customers and they are typically more loyal than the guy [the dealer has] been chasing for $100 off on a brand new motorcycle.”
The price for accessories can depend on the brand, style, and material, but a Harley-Davidson riding jacket can cost as much as $575, while a Bell helmet can cost between $700 and $900. That’s at least another $1,000 added on top of a motorcycle purchase such as an $11,299 Harley-Davidson Roadster, for example. For a rider buying his first unit, that receipt can start to look pretty significant, and that’s where financing comes in.
American Cycle Finance allows accessories to be added to a finance deal, which will require a larger down payment for the customer. However, new riders often opt for these extra products, and financing can help provide a better shopping experience and increase the likelihood that the customer will return for a tune-up or another product.