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MotoLease to Debut Payment-Reduction Rewards Program

  • Emma Sandler
  • October 24, 2017
  • 0

MotoLease LLC will introduce a new point-system program in the first quarter of 2018 for lower-credit-tier borrowers that will act “similar to credit card points,” Managing Partner Emre Ucer told Powersports Finance.

By paying on time, lower-credit-quality customers can reduce their overall payments. “Each payment will earn a customer 100 points,” Ucer said. Most lessees will be eligible for lowers payments 12-18 months, depending on the number of on-time payments, he added.

Once a certain number of points are accrued, a customer’s payment can be reduced to the equivalent of what someone in the tier above would pay, Ucer said. MotoLease has six credit tiers, so for example, someone in Tier 6 could be eligible for the equivalent payment of someone in Tier 5 and later on Tier 4, etc. The program allows customers to maintain the same repayment term, and as a lease, does not affect an APR or interest rate, Ucer said.

“It will also help them in their next vehicle lease by [making them eligible] for lower up-front costs and lower monthly payments,” he added.

MotoLease CEO Maurice Salter will sit down for a fireside chat at PowerSports Finance 2017 tomorrow. Salter’s fireside chat will be followed by a panel entitled “Credit Trends in Powersports Finance,” which will offer insight into current origination trends and an outlook on credit performance.

The full agenda can be viewed here. To learn more — or to register — visit the PowerSports Finance 2017 homepage here.

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