Ubco Bikes U.S. LLC, an electric motorcycle distributor, signed ThunderRoad Financial as its national consumer finance partner earlier this month, the companies announced.
Ubco did not previously have a national lender partnership. The OEM did have a partnership with SELCO Community Credit Union in Eugene, Oregon, but the financial institution only worked with dealers in its areas. Other dealers used their own lender connection to finance the vehicle, and they can continue to do so after the ThunderRoad deal.
ThunderRoad Financial is a full spectrum lender that will finance every make and model of motorcycles, ATVs, and off-road vehicles. The lender works with 500 dealers nationwide.
The OEM felt the need to offer retail financing in order to broaden its customer base and to give its dealerships another tool for selling products.
Ubco Bikes U.S. is the distributor for the Ubco electric bike manufacturer in New Zealand. The U.S. company formed in January 2017 and began selling its Ubco 2×2 electric motorcycle in June of that year. The 2×2 is a two-wheel drive electric motorcycle that can travel up to 75 miles on a single charge. The 2×2’s market retail price is $6,999.
Ubco currently has a dealer base of 25 stores nationwide and plans to add 50 more dealerships by mid-year 2019, Ethan Ralston, president of Ubco Bikes U.S., told Powersports Finance.
“I met [ThunderRoad President and CEO] Don Hummer at the AIMExpo about a month ago down in Vegas and had a pretty good talk with him,” Ralston, said. “It really came down to relationships and how ThunderRoad was willing to work with new OEMs, which I think is really good for the powersports market. You need to have new types of vehicles that can expand who can ride.”