Royal Enfield Adds Dealer Direct as Nationwide Retail Lender

Dealer Direct partnered with Royal Enfield North America last month, taking its consumer financing nationwide, Powersports Finance has learned.

The companies kicked off the partnership with a promotion offering consumers $99 monthly payments with no down payment required on current models, Vice President of Sales Mike Roark told Powersports Finance.

Dealer Direct is offering the program through Dec. 31 in the 48 continental states as well as Hawaii.

Royal Enfield has long been searching for a retail partner to complement its existing partnership with ThunderRoad Financial, in an effort to serve the motorcycle manufacturer’s nationwide consumer base.

The OEM has 70 North American dealers. Dealer Direct funded $73 million worth of powersports loans in 2016, with the goal of reaching volume of $150 million in 2017.

Dealer Direct’s Vestal will participate in a panel entitled “Opportunities in Pre-Owned” at PowerSports Finance 2017, set for Oct. 24-25 at the Wynn Las Vegas.

Other sessions include: Credit Trends in Powersports Finance, Finding Loan Growth Amid Increasing Competition, F&I Dos and Don’ts, Keys to Successful Subprime Lending, and Regulatory Compliance Update.

The full agenda can be viewed here. To learn more — or to register — for this year’s event, visit the event homepage here.

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