Roadrunner Financial plans to introduce a non-restrictive model-year program this quarter, President Jason Guss said at PowerSports Finance 2017.
Currently, New York-based Roadrunner Financial makes loans on 10-year-old or newer motorcycles, ATVs, and UTVs. However, the lender will no longer restrict the model year, and it will include snowmobiles and dirtbikes in the new finance program due to dealer demand, Guss said. Additionally, dealers have been consistently asking for Roadrunner to finance customers with lower credit scores or thinner credit files, Guss said.
“We hear the dealers, but it’s important for us as an institution to make sure we are very disciplined as we expand our programs,” he said. “We do plan to become slightly more aggressive, but we are going to be very thoughtful in how we do that.”
Separately, Roadrunner Financial will operate nationwide after it launches into South Dakota and Vermont by yearend. The lender, which is partnered with 13 OEMs and more than 1,000 dealers, makes loans for consumers with Fico scores as low as 550, and loan terms as short as 24 months.