Octane Lending is featured in this article exploring how the company identified a gap in near-prime lending for powersports and developed a unique solution that helps dealerships boost sales.
Since Roadrunner targets higher risk customers, its rates are higher than prime lenders, but the rates are still lower than the APRs offered by many other second-look financing companies, Davidson reported. “Most, if not all dealers, want an affordable down payment because it’s usually one of the No. 1 blocks in getting a deal done,” he said. Roadrunner Financial also has a light stipulation packet, so customers don’t have to provide a barrage of documentation to receive a loan. The ideal customer to send to Roadrunner Financial is one who has a FICO credit score of 580-680, or someone who has a higher score but a blemish on his or her credit report that prevents approval for prime financing.