Excel Finance is on target for modest yearend results for powersports loan originations, thanks to altering its program in June to include the financing of all brands of on-road motorcycles, Dealer Relations Manager Valerie Figueroa told Powersports Finance.
Previously, the subprime lender financed only Harley-Davidson motorcycles, and accepted other brands on a “case by case” basis, she said.
Now, the Lakeway, Texas-based lender expects to exceed the number of loan contracts originated in 2015. Excel funded 700 motorcycle loans last year; and it has funded 600 motorcycle loans through September.
Excel — which has 34 branches throughout Texas and Louisiana — has doubled its dealer network to 40 since February. It offers loans on vehicles five-years-old or newer, and targets the subprime market.