Indian motorcycle dealerships see new opportunities to move inventory after Fuel Capital Group and Speed Leasing LLC began offering leases for Indian Motorcycles earlier this week, Powersports Finance has learned.
Lowell, N.C.-based Indian Motorcycle Charlotte is already signed with one of the lessors to help customers ride “more machine for less of the monthly payment,” said Finance Manager Tim Vath. He declined to name the company.
“It just gives our customers another opportunity to get into a new bike with another option,” Vath told PSF. “I came from the automotive world, and we used to lease a lot of cars, so I certainly do see the advantages of leasing for certain buyers.”
Cyrena Valdez, finance manager of North County Indian Motorcycle in San Marcos, Calif., was unaware of the programs but sees leasing as beneficial for the dealership because it “opens it up for more people to buy more Indians,” she said.
Meanwhile, another dealer was skeptical about leasing Indian bikes. The store is located in an affluent area, and its customer base might find leasing an unattractive financing option, said the finance manager, who declined to be named.
Fuel Capital and Speed Leasing are offering Indian leases for model years from 2014 to 2018 for consumers of all credit tiers. Both companies plan to add more bike models to their financing lineups in 2019.
Fuel Capital offers Indian leases in the 18 states in which it operates. Speed Leasing provides leases for Indian Motorcycle in more than 20 states.