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Polaris reports on availability of consumer retail credit
Polaris Industries is reporting improvement in the percentage of its customers receiving lending approvals for new units.
Polaris officials, in their recent quarterly earnings report, noted the company’s consumers were approved 52 percent of the time for retail credit in the recent quarter. That percentage is 4 points higher than the last quarter and 8 points higher than the first quarter.
That percentage approval rate is in line with a Powersports Business dealer survey that was taken in August. At that time, 51 percent of consumers were getting approved, according to the survey, which contacted 25 dealers in 17 states.
Polaris’ retail credit financing is done through GE, HSBC and Sheffield Financial.
