Sheffield Financial, Polaris extend financing contract

Sheffield Financial and Polaris Industries Inc. have agreed to a five-year installment financing contract that begins April 1, 2011, according to a press release.

Under the contract, Sheffield will be the exclusive retail lender for Polaris’ snowmobiles, ATVs, UTVs and Breeze Electric golf carts.

“We at Sheffield are extremely pleased with the confidence Polaris has placed in us to offer financing products to its customers,” said Sheffield Financial president Jack Snow in the release. “It’s an honor to expand our presence in the powersports industry with such a strong partner and proven market leader as Polaris.”

Sheffield, which will provide installment lending services to Polaris dealers, believes the move will expects its market share in powersports. Polaris began working with Sheffield in February 2009.

“Sheffield has proven this relationship is one that we can count on to handle our customers’ financing needs while offering exceptional service to our dealer network,” Michael Malone, vice president and chief financial officer for Polaris, said in the release.

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