Speed Leasing Co. LLC lifted starting mileage restrictions on its leases last Friday, Director of Sales Frank Dionisi told Powersports Finance.
“Customers can lease bikes with Speed regardless of starting mileage and, as always, they can ride as many miles as they wish over the life of their Speed Leasing Co. lease,” Dionisi said.
Previously, leases previously were limited to 50,000 miles or fewer at inception. “We use a number of different factors to evaluate and manage risk,” Dionisi said. “Residual value is one piece of a larger methodology and process.”
Separately, the startup is set to open operations in Georgia and Indiana in the “coming weeks,” he added.
The Pompano Beach, Fla.-based startup, which exclusively leases pre-owned Harley-Davidson bikes, now operates in six states.
