MotoLease LLC is set to launch its MotoCoin Rewards Program on March 1, allowing lessees to reprice their leases with better terms after accumulating 30,000 coins, according to a dealer newsletter shared with Powersports Finance.
The MotoCoin program rewards a lessee’s relationship with MotoLease, the newsletter read. Customers will earn 6,000 MotoCoins for signing up through MotoLease’s mobile app and agreeing to autopay, and 2,000 coins for every on-time payment.
When lessees earn 30,000 MotoCoins, they are eligible for a repriced lease at a better credit tier, with as much as a 20% monthly payment reduction and as much as a $500 credit toward upfront fees on a trade-in motorcycle.
“The MotoCoins are not only for a repriced lease on the current motorcycle but also for trading up to a different motorcycle,” according to the newsletter. However, lessees must work with MotoLease dealers to trade in and pay off their current motorcycle. MotoLease will also offer other ways to earn points.
The trade-in reward is a “great opportunity for the dealership to recycle and have repeat business, a great opportunity for the customer to upgrade their vehicle, and it’s good for [MotoLease] because it is a paying customer that we like to keep on the books for a longer period of time,” the leasing provider’s Managing Partner Emre Ucer told Powersports Finance.
Separately, MotoLease joined a newly launched cloud-based platform from Netsol Technologies Inc. called LeasePak-Cloud in early February, according to a press release last week. LeasePak-Cloud is an end-to-end portfolio management solution for leasing and lending originations. Previously, MotoLease joined LeasePak in 2013, but has upgraded to the new cloud system to help manage and organize its growing portfolio.
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