FORT WORTH, Texas — Roadrunner Financial plans to debut a leasing program by yearend, President Jason Guss announced during a fireside chat at PowerSports Finance 2018.
“One of the big things that we’re launching at the end of this year that we’re very excited about with our partners at BRP is a lease in the prime market with a true residual,” Guss said. “The reason why we think that’s such a valuable product is the fact that a lot of consumers, especially younger folks, the millennials are looking for a subscription-like service. To be able to offer them an auto-like lease in the prime part of the market will enable us to have another tool to reach out to consumers.”
The benefit of a lease product is that the lower payments could attract younger consumers to ride powersports vehicles. Also, the nature of the lease spurs the consumer to lease a new vehicle after the term is finished.
Meanwhile, Roadrunner is looking to forge more partnerships with lenders that serve the “sub-600 space much better than we do today,” Guss added.
“We would love to partner with [other lenders] to help serve dealers so that they could sell more, and we have the technology and infrastructure so that we’re able to work together,” Guss said.
Roadrunner Financial uses an entirely digital process to finance off-road vehicles and outdoor power equipment. The New York-based company partners with OEMs such as Can-Am, Textron, CFMOTO, and Hisun.