The Horsepower-Revvable partnership aims to revolutionize the way powersports financing works by creating a seamless, multitier approval waterfall. This means that customers will have access to a range of financing options, from traditional loans to leasing solutions, without having to restart the process if one product isn't the right fit.
By combining their origination platform with Revvable's lending network, Horsepower Leasing and Revvable are giving dealers a single, powerful tool that works harder for every customer who walks through the door. This partnership is particularly beneficial for consumers who have credit challenges or prefer alternative financing options.
The solution was engineered specifically for the powersports industry, taking into account unique residual values, seasonal demand patterns, and credit profiles of motorcycle and ATV/UTV riders. This means that dealers will be able to offer more competitive pricing and better terms to their customers.
Dealers enrolled in the program can access the combined waterfall through a single onboarding process, which is expected to simplify the financing process for both dealers and customers.
Early pilot partners have already seen significant increases in units moved, backend usage, and new customers on those units. This suggests that the partnership is having a positive impact on the industry.
The Horsepower Leasing and Revvable lending and leasing waterfall is available beginning June 20. Dealers interested in enrolling can visit the Horsepower or Revvable websites to learn more.
This partnership is a significant step forward for the powersports industry, providing dealers with a more efficient and customer-friendly financing solution. It also gives consumers more options and a better experience when it comes to purchasing their next vehicle.
The combination of Horsepower Leasing's origination platform and Revvable's lending network creates a unique value proposition that is not yet available in the market. As such, this partnership is likely to attract dealers who are looking for innovative financing solutions.
Overall, the Horsepower-Revvable partnership has the potential to transform the way powersports financing works, making it more accessible and convenient for consumers.
This partnership is a game-changer for the powersports industry, providing dealers with a more efficient and customer-friendly financing solution.
