MotoLease LLC teamed up with mobile app and digital bike-buying platform RumbleOn Inc., the companies announced last week. RumbleOn allows consumers to buy or finance motorcycles online with a haggle-free price and have them delivered to their homes, according to Founder and Chief Executive Marshall Chesrown.
The model is much like Chesrown’s previous venture Vroom, which he founded in 2014 to disrupt the auto sector. RumbleOn works with more than 10 lenders, including MB Financial and Commerce Bank.
In an industry searching for young riders, RumbleOn believes it has a formula that’s resonating with millennials, Chesrown told Powersports Finance in September.
Technology continues to be a driving factor in powersports and auto finance, and several powersports lenders are focusing their investment dollars this year on advancing digital efforts. MotoLease, for example, launched a new live-inventory, real-time financing website for motorcycles called UsedMotorcycles.com back in October.
The website is a “nationwide classifieds website” for MotoLease dealers’ new and used motorcycles,” Mitch Palm, MotoLease’s marketing coordinator, said during the leasing provider’s dealer training seminars in early October.
Los Angeles-based MotoLease has 1,000 dealers in its 36-state network.