MotoLease LLC, a Los Angeles-based powersports leasing provider, has a new mobile app on tap for next month, intended to bring the company to a more user-friendly level, Maurice Salter, MotoLease’s chief executive, told Powersports Finance.
The new app will be available to MotoLease’s customers, and “will automatically pull up the lessees’ information, depending on what they are trying to query,” Salter said. From there, users can find out how much they owe on the vehicle, adjust or make payments, check their account balance, and more.
Most of MotoLease’s business is completed online, and the app will allow users to do almost all of their business within seconds, he said. “However, they will not be able to apply for a lease on it. Mobile apps don’t really allow you to do that in any robust way, but we can collect the lessees’ upfront preliminary information to get the process started.”
In a further attempt to revamp its online presence, MotoLease recently relaunched a new website, complete with a new logo, redesigned visuals, and a contemporary look. “It has all the bells and whistles,” Salter said. “We made it much more user-friendly, and we’ve had five times more traffic since we launched it at the beginning of January.”
MotoLease currently works with 750 authorized dealers, and plans to continue its growth this year. MotoLease funded 7,000 powersport vehicle leases in 2015 — which has a face value of $100 million — and projects to fund 10,000 leases this year. The company also reported a 40% increase in year-over-year lease originations in 2015.
This story originally appeared in Auto Finance News Update. Subscribe to receive more exclusive stories in your inbox.