Octane and RideNow Powersports are partnering to debut branded financial services in RideNow’s retail stores. The new RideNow Finance brand will be part of the dealership’s 56 stores.
Octane said the new alliance is the “only private label branded financing for a dealership group in the nearly $30 billion powersports market.”
Octane provides lending services for RV dealers, among other industries.
RideNow said consumers can use RideNow Finance to buy over 18,000 pre-owned and new vehicles from several manufacturers. Through the new private label collaboration, RideNow dealerships may leverage Octane’s financing and digital tools under the RideNow name.
Steven Fernald, Octane president and chief financial officer, said the company thinks retail financing’s future will include private label branded and captive financing.
“By giving dealerships innovative, digital tools and helping them harness the power of branded financing,” he said, “we can help them drive more qualified applicants, and ultimately sell more units.”
