RumbleOn, parent company to RideNow — the largest powersports chain in North America — is on the gas! They have partnered with Fintech giant Octane to launch captive financing in all 56 RideNow retail stores under the “RideNow Finance” brand. “Our dealerships are laser focused on providing a great buying experience for our customers,” notes RumbleOn CEO Mike Kennedy. “The opportunity to ease the financing process through RideNow Finance is exactly how we will take the experience to the next level.”
Effective immediately, RideNow Powersports customers can purchase 18,000+ new and pre-owned vehicles from a large selection of manufacturers in inventory via RideNow Finance. The new private label partnership allows RideNow Powersports dealerships to leverage Octane’s digital tools and fast, easy, full-spectrum financing experience. Additionally, this partnership will help drive higher quality leads by giving RideNow Powersports dealerships the ability to run their own branded financing promotions, integrate branded financing messaging into their marketing initiatives, and reach customers throughout the lifecycle of their loan.
Although Octane has been one of RideNow’s preferred lenders since 2017, both entities believe it was time to get on the gas. “We believe that private label branded and captive financing are the future of retail financing in powersports and beyond,” said Steven Fernald, President and CFO of Octane. “We’re excited to work with a leader in powersports – and a great partner – to bring this exciting new product to market. By giving dealerships innovative, digital tools and helping them harness the power of branded financing, we can help them drive more qualified applicants, and ultimately sell more units.”
RideNow Finance loans will be originated through Octane’s in-house lender, Roadrunner Financial, Inc., and serviced by Octane’s award-winning loan service.
