Motorcycle leasing program expands from V-twin to all brands; mileage cap lifted
Naples, Florida-based Fuel Capital Group announced today the expansion of its lease program to include authentic leases on all pre-owned on-road touring, cruiser, sport, and street motorcycles from the major manufacturers such as Aprilia, BMW, Ducati, Harley-Davidson, Honda, Indian, Kawasaki, KTM, MV Agusta, Royal Enfield, Suzuki, Triumph, Victory and Yamaha motorcycles.
Additionally, mileage cap restrictions at lease inception have all been lifted, resulting in the immediate eligibility for higher mileage bikes. Leases can be written with 48-month terms regardless of bike model or customer. Also, to further reduce rider payments, Fuel has lowered internal transaction fees and lowered rider insurance limits.
“When we started Fuel, we built an extendable modular platform that checks all of the boxes for dealers and riders,” said Peter Wasmer, co-founder and board member. “By opening our program to these iconic brands’ on-road motorcycles, we are able to share our deep experience and data-based decision tools with substantially all motorcycle dealers interested in increasing their sales and forming long-term relationships with customers.”
Fuel Capital’s digital contracting and automated funding solution is backed by a $100 million fund that supports dealer partners originating leases for all major manufacturers’ on-road motorcycles that are less than 10 years old (2007 to 2019 Harley-Davidson motorcycles are eligible), with no cap on the mileage at lease inception.
Since launching in 2018, Fuel Capital and its dealer partners have benefited from a 99 percent approval rate, provided at industry-changing speeds. The Fuel platform is completely automated and boasts instant approvals, with DocuSign lease contracts delivered via e-mail within seconds.
“We facilitate financing motorcycles at the fastest pace in today’s highly competitive industry,” said Steve Pietrowicz, Fuel Capital Group’s new senior vice president of Sales & Marketing. “Ultimately, our predictable process results in an unprecedented respect from the rider for their dealer and begins an enduring successful relationship for the dealer with his customer.”
According to Pietrowicz, data shows that dealers who contract their riders with Fuel’s 24-, 36- or 48-month lease sell more bikes and make more money. Fuel dealers are growing their market share with new riders, riders with challenged credit, experienced riders who trade up frequently wanting to avoid the risk of equity loss associated with traditional loans, and riders who simply do not want the long term burden of a retail loan commitment. Fuel Capital Group dealers incur no recourse, and can be set-up to begin offering leases within minutes.
Fuel Capital is starting 2019 on a strong note, having partnered with over 200 dealers in 20 states: Florida, Georgia, Alabama, North Carolina, South Carolina, Virginia, Tennessee, Kentucky, Ohio, Indiana, Illinois, Kansas, Michigan, Missouri, Oklahoma, Texas, Arkansas, Nevada, Arizona, California, Pennsylvania and New Hampshire. New states and dealers are being added weekly.
