Speed Leasing is expanding back the model year of motorcycles the Harley-Davidson-only finance company will finance to 2007, Frank Dionisi, director of sales, told Powersports Finance.
With the new program, Speed Leasing will finance any model of pre-owned Harley-Davidson motorcycle with no restrictions placed on mileage. The motorcycle lessor will likely still service 2007 bikes when 2019 models begin to hit the market because the older bikes “won’t just vanish.” Dionisi said. “Our job is to help dealers liquidate pre-owned Harleys.”
Previously, Speed Leasing had a model restriction capped at 2008 models, but the company has added one more year to the program due to suggestions by its dealer customers.
“Just that extra model year opens up a lot of inventory for [dealers] to both buy and sell,” Dionisi said. “We ask for their suggestions, so when they make a worthwhile suggestion, we try and implement it as quickly as possible.”
In addition to adjustments to the model year, Speed Leasing added Maryland and Michigan to its coverage, increasing the finance company’s geographic footprint to 19 states. Since launching in 2017, Speed Leasing has been growing rapidly, originating $10 million in leases in less than a year. It previously expanded into New Mexico and Pennsylvania in February, and Nevada in March.