Speed Leasing Co. has started to originate leases for customers in Indiana and Tennessee, with plans for further expansion throughout the year, Director of Sales Frank Dionisi told Powersports Finance.
Tennessee brings Speed Leasing’s active state count up to 10. The leasing company, which makes leases for 125 dealers, plans to add two to three states monthly “until we offer leasing everywhere that needs it,” Dionisi said, adding that Ohio is next in line. “In addition, we are working on some additional enhancements that will absolutely make Speed Leasing a more frequent option for our dealers and their riders,” he said.
The Pompano Beach, Fla.-based startup, which exclusively leases pre-owned Harley-Davidson bikes, began originating leases in April 2017. Speed Leasing is funded by an undisclosed private equity firm, as well as through “additional funding,” Chief Executive Hasham Malik told Powersports Finance in August. Malik declined to offer specifics but said Speed Leasing has “multiple commitments” for capital funding.