American LandMaster is considering leasing and rental options — particularly for commercial accounts — as leasing demand continues to grow, Marketing Director Eric Hall told Powersports Finance.
While the off-road utility vehicle manufacturer does not offer leasing options yet, “we see both leasing and rental options as a growing trend,” Hall said. It is something American LandMaster might look into, especially for commercial accounts, he added.
For American LandMaster, commercial accounts include facility management companies, for example, “that own many acres and [have employees that] need to drive from plant 1 to plant 5,” he said. Some commercial accounts also include construction companies, and there is also a “decent amount of demand from oil industries — maybe they want crew cabs,” he said.
American LandMaster has started to see more commercial applications come in from self-storage companies — where the drivers need an UTV to get from the main office back to the self-storage areas, as well as apartment complexes, he said.
“We think the economy is rebounding, and as it continues to grow, we think that is a really good thing,” Hall said. What American LandMaster has been focused on is the aging population — as more baby boomers reach retirement and seek convenient ways to get around their farm or land, for example — and offering alternatives for people who want get into an outdoor lifestyle, but don’t need a vehicle that goes 60 miles per hour, he said.
Separately, American LandMaster announced plans in early May to expand its operations in Indiana, creating up to 67 new jobs by 2020, according to a company press release. The company will invest more than $4 million to lease a 112,000-square-foot space in Columbia City, which will serve as the company’s headquarters. Production will begin at the new facility in September.
American LandMaster has built and distributed more than one million American-made utility vehicles. The company works with approximately 200 dealers in North America. The OEM has floorplan financing agreements with Wells Fargo Commercial Distribution Finance and Northpoint Commercial Finance, and works with Sheffield Financial for retail financing.