Captive finance arms offer a “pretty big competitive advantage” for powersports OEMs, particularly in an environment where independent finance companies are “coming and going,” James Hardiman, managing director of equity research at Wedbush Securities Inc., told Powersports Finance.
For example, Speed Leasing LLC began underwriting leases on April 1. Speed Leasing’s entrance into the market comes just seven months after Chrome Capital stopped accepting lease applications because of a halt in its investment funding.