RumbleOn, the online marketplace where consumers can buy, sell, trade, and finance used motorcycles and ATVs, is adding boats and RVs to its product offering.
“More than 90% of our purchases come direct from consumers,” Chief Executive Marshall Chesrown told Powersports Finance. “We just think there’s a huge area of demand [in these segments], just like in motorcycles.”
It can be difficult for powersports consumers to get rid of their vehicles, especially bigger ones like RVs and boats. Another online marketplace called RV Trader has listings that were posted as far back as seven years, and more than 1,000 units are dated between model years 1998 and 2008.
Whereas motorcycles are relatively easy to store with little extra cost, RVs and boats are more difficult for consumers to turnover. “The similarities in boats and RVs are the same that exist in motorcycles,” Chesrown said. “There just isn’t a real easy liquidity option. If you’re not going to trade it, you pretty much are stuck trying to sell it on your own or putting it on consignment. All of the current solutions aren’t really what the consumer wants.”
RumbleOn plans to begin acquiring and distributing inventory in the fourth quarter, and then “ramping up” in the first quarter of 2019.