Speed Leasing Hits $10 Million in Originations

Speed Leasing, which exclusively leases preowned Harley-Davidson motorcycles, originated $10 million in less than one year, Director of Sales Frank Dionisi told Powersports Finance.

“We’ve got pretty high expectations for our business, and I say we are in line meeting and exceeding our growth landmarks that we wanted to hit,” Dionisi said.

Speed Leasing, which launched in April of last year, previously originated more than $1 million leases in August — surpassing its expectations. The company has been growing “very rapidly” and is ahead of schedule on “just about everything,” Dionisi said.

Additionally, Speed Leasing is geographically expanding. The lessor is “closing in” on its next landmark of 200 dealers, and currently has operations in 14 states. Most recently, the startup expanded into Alabama, Illinois, and Mississippi.

“[Our next goal] is to service every state,” he said. “We’re opening in a couple states a week and we’re on track to have over 25 by the end of April. We’ll keep spreading out that way and growing our number — and also growing our total number of dealers — and that will grow our portfolio accordingly.”

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As Associate Editor of Powersports Finance, Matt Wood reports on the latest developments and trends of the powersports finance world, from innovation to new partnerships. He's also a movie/TV show buff and is willing to argue about Lost anytime. Former bylines include Scout Media and CinemaBlend.

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