With the new 2019 motorcycles rolling in, Speed Leasing LLC will continue to fund 2007 model year bikes, which helps dealerships liquidate their lingering inventory, Director of Sales Frank Dionisi told Powersports Finance.
Ordinarily, when new model years arrive in the market, lenders will stop financing older bikes. For example, this year many lenders with restrictions on older bikes will move from 2007 to 2008 models. However, after talking to its dealer partners in April, Speed Leasing will continue to finance those 2007 models for the foreseeable future.
“The 2007 inventory that [dealers] have isn’t just going to go away because we changed our model years,” Dionisi said. “A lot of these independent or smaller dealers or even franchised dealers have limited resources to liquidate the inventory, especially when it gets a little older so Speed decided that we would keep them on our program to help them get rid of them.”
Speed Leasing exclusively finances Harley-Davidsons and extending the model restrictions has an added benefit because of how those Harley’s were constructed from 2007 and onward.
“It comes to Harley-Davidson in particular,” Dionisi said. “Every Harley-Davidson built from 2007 and newer is fuel injected. So, it makes it easier for the dealer to identify what they are looking for because the VIN for a carburated bike is different from the VIN from a fuel injected motorcycle. Independent dealers don’t realize that it actually requires more complexity to our program, but in 2007 and newer, the fuel injected bikes make the process more streamlined, and it also takes away some of the maintenance that would be needed.”
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