Earlier this month, Octane, a financial technology company for major recreational and equipment purchases, announced it was appointing two key company leaders: Joe Butvin as vice president of new verticals and Josh Norton as national sales manager of new verticals.
These two employees will help the company enter the RV and marine markets this year. When officially launched, RV dealers will be able to use Octane Prequal, the company’s soft-pull pre-qualification tool. The software enables customers to pre-qualify on dealer websites without impacting their credit score.
Octane Prequal, which is used in powersports dealerships around the country, provides instant prequalification decisions by matching applicants with numerous lenders in Octane’s network. Octane’s network includes a spectrum of lenders serving prime, near-prime and sub-prime borrowers.
Consumers can prequalify through Prequel online or at the dealership. RVers can scan a QR code and get prequalified while they look at new models on the dealer floor.
Octane was founded in the powersports industry with an interconnected, end-to-end digital experience that streamlines the process for all parties involved. The company works to make powersports vehicle purchases accessible for credit-worthy customers overlooked by national lenders.
“As a result, we brought together modern technologies and strong coverage to deliver a simple, seamless buying experience that enabled more people to spend time doing what they love,” said Shannon O’Hara, Octane’s director of corporate communications. “Though we began in powersports, we soon realized our digital tools and experience could benefit other markets as well.”
The group expanded into the outdoor power equipment market in 2018, beginning with zero-turn mowers. As Octane saw growth in powersports and outdoor power equipment, the company began looking for other spaces to launch its technology.
“As a result, we are looking to expand our portfolio in 2022,” O’Hara said. “We launched our trailer offering last month and plan to move into the tractor, RV, and marine markets in the near future.”
O’Hara said the company is excited to enter the RV space.
“We believe that our digital products, end-to-end purchasing solution and best-in-class experience will enable dealerships to build more meaningful relationships with customers,” O’Hara said, “and, as a result, make it easier for them to convert consumers to customers.”
