Side-by-Side Volume Rises at Marine One, Despite Tighter Lending

DALLAS — Marine One Acceptance Corp. continues to see growth in the side-by-side segment, despite tightening lending criteria at the end of last year, President Martin Angel told Powersports Finance.

The side-by-side segment has grown in each of the past several years, and it is growing again this year, he said. Marine One “tightened up the program a little bit” by increasing down payments required based on portfolio performance, but the volume is still growing, he said. Angel declined to offer the lender’s origination volume.

Side-by-sides are a “riskier segment” than motorcycles or RVs, he said. “Some of it is the fact that the product is used off-road, so it has a tendency to break,” Angel added.

Marine One offers loans to high-500 Fico consumers a maximum term of 72 months on five-year-old or newer American brand motorcycles, RVs, and side-by-sides. The lender operates in 30 states, has 50 employees, and its dealer network is “in the hundreds,” Angel said.

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