The regulatory landscape is “getting worse” for lenders, but powersports finance is not “predatory lending,” Donal Hummer Jr., president and chief executive of ThunderRoad Financial, said at PowerSports Finance 2017 last month.
There is a “defining difference” between powersports and auto or home lending, Hummer said. “Predatory lending really applies to a situation when you are taking advantage of something that [consumers] need for their necessity of life,” he said. “These are toys, nobody needs a $20,000 Harley-Davidson motorcycle; they want it. That’s the defining difference right there.”