COLUMBUS, Ohio — Dealer Direct aims to be the “one-stop-shop” for small- to mid-size powersports manufacturers, and already has two undisclosed new OEM partners, National Sales Director Jon Vestal told Powersports Finance during a meeting at AIMExpo 2017.
Dealer Direct — the powersports division of Batesville, Ark.-based First Community Bank — is in the process of a company rebrand geared at attracting a wider customer base and more manufacturer partners.
“The rebrand is going well, and we expect that to launch at the end of the month,” Vestal said, adding that the rebrand includes a new website and logo. “A lot of that is going to showcase our partner manufacturers, as well as their interest rate specials.”
Dealer Direct’s rebranding will also help showcase its variety of product offerings, Vestal added. “A lot of times, we will get into a dealership with a manufacturer … and then that dealer doesn’t know we finance side-by-sides, trailers, etc. We want to make sure they know we do used powersports financing and that is something a lot of dealers are interested in. We want to showcase our entire offering.”
The new domain, DealerDirectFinancial.com, is still under construction until September, he said. In addition to the new logo and website, marketing materials such as in-store brochures will be introduced in order to “have our brand reflect the program we offer and [its] national presence across all markets,” such as powersports, lawn and garden, and some trailers, Vestal told Powersports Finance last month.
The lender works with several manufacturers, including Argo XTV, Rival Powersports, TrailMaster Go Karts, and golf cart manufacturer Tomberlin ParCar.
Dealer Direct targets smaller manufacturers because “most of the large manufacturers have in-house financing, like Honda Financial Services,” he said. “In powersports, most of those OEMs are going to have that opportunity, because they understand the revenue stream and can build financing into their pricing. For a mid-size manufacturer, it takes a lot of cash to launch a captive,” he said.
Dealer Direct funded $73 million in powersports loans in 2016, with a goal of reaching $150 million in volume for 2017. The company makes loans for more than 1,800 dealers in 48 states.
Vestal will participate in a panel entitled “Opportunities in Pre-Owned” at the upcoming PowerSports Finance 2017, which will take place Oct. 24-25 at the Wynn Las Vegas.
Vestal and his fellow panelists will discuss the demand for pre-owned financing, growth opportunities by product segment, and more.
Other sessions include Finding Loan Growth Amid Increasing Competition, F&I Dos and Don’ts and Regulatory Compliance Update. 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.