This year has been a busy one for the powersports finance industry, with several new partnerships, renewals, programs, and captives announced.
Despite a relatively flat growth year, according to analysts, several lenders doubled year-over-year loan and lease originations, and some even reported record-breaking years. However, some financial provider’s struggled — including Harley-Davidson Financial Services. The captive reported its annualized net losses reached the highest level it has seen in six years, due to turmoil in the oil and gas sector.
Meanwhile, manufacturers continued to release innovative new models and boost finance incentives to counter competition. Polaris Industries Inc. announced a “captive-like” consumer finance program with FreedomRoad Financial, shortly before Yamaha Motor Finance Corp. announced its Yamaha Credit Card program.
ThunderRoad Financial also boomed this year, with the issuance of its first-ever securitization and two new OEM partnerships with EBR Motorcycles and Royal Enfield North America.
The PowersportsFinance.com countdown — and 2016 — has come to a close. Join us as we revisit the top 5 Powersports Finance stories of 2016:
- Harley-Davidson Financial Losses Hit Six-Year High Amid Oil Sector Troubles
- BREAKING: Polaris to Launch ‘Captive-Like’ Consumer Finance Program
- ThunderRoad Financial Issues First-Ever Securitization
- Arctic Cat Offers 0% Financing Promotion
- Untapped Finance Offerings Stunts Industry Growth