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.
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Roadrunner Financial gives customers a second look
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.
