Mahindra Vehicle Sales and Service Inc. signed powersports lender Sheffield Financial as its latest retail financier, the companies announced in a press release.
Through the new multi-year contract, Sheffield will provide lending services to Mahindra customers through the Mahindra dealer network. The deal covers installment financing on the Mahindra Roxor, an off-road vehicle manufactured by Mahindra Automotive North America that launched last spring.
“Sheffield specializes in financing off-road vehicles and we are thrilled to partner with Mahindra to provide financing for the exciting new ROXOR side by side unit,” Jeff McKay, president of Sheffield Financial said in the release.
Sheffield is a full-spectrum lender that specializes in financing powersports vehicles such as snowmobiles, all-terrain vehicles, side-by-side vehicles, motorcycles, and personal watercraft. Based in Clemmons, N.C, Sheffield is a division of BB&T and works with more than 15,000 dealers nationwide.
Mahindra also has a multi-year agreement with Synchrony Financial, which specializes in prime credit, as a preferred lender for consumer financing. Synchrony works with several powersports OEMs such as Polaris, Kawasaki Motors Corp. USA, CFMOTO USA, and Suzuki Motor of America.