National lender to roll out non-prime leasing program

Sparta Commercial Services Inc. is launching a consumer leasing program targeting the non-prime powersports market, the company stated in a press release.

According to the New York-based company, the program will be rolled out gradually to accommodate what the company expects will be a strong demand. The rollout will initially focus on specific states where the demand is likely to be the heaviest, and then expanded to include additional states as the program builds momentum to include its current 2,000 registered dealers.

Sparta launched the program after analyzing the industry and finding the non-prime segment was almost entirely underserved because of more restrictive credit criteria of other lenders.

“It isn’t a case of more consumers with poor credit as much as it is the ever-higher minimum credit scores that other lenders are requiring,” Sparta CEO Anthony Havens said in the press release.

“The timing and industry circumstances lead us to believe that this program will be extremely well received by dealers and consumers.”

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