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Octane and RideNow team up to launch RideNow Finance

Octane Lending and RideNow, a RumbleOn company and the largest powersports retailer in North America have partnered to launch branded finance in RideNow’s 56 retail stores under the RideNow Finance brand.

The new private label partnership allows RideNow Powersports dealerships to leverage Octane’s digital tools and fast, easy, full-spectrum financing experience under its own name. (Image: Octane)

RideNow Powersports customers can purchase over 18,000 new and pre-owned vehicles from various manufacturers using RideNow Finance. The new private label partnership allows RideNow Powersports dealerships to leverage Octane’s digital tools and fast, easy, full-spectrum financing experience under its own name.

According to Octane, 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.

At the same time, RideNow Finance customers will benefit from broad credit coverage and a seamless, end-to-end financing experience that make it faster and easier to get outdoors on their dream vehicle.

Octane has been one of RideNow’s preferred lenders since 2017. It says the partnership is the only private label branded financing for a dealership group in the nearly $30 billion powersports market, and it builds on the longstanding relationship between the two companies.

“Our dealerships are laser-focused on providing a great buying experience for our customers,” says 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.”

“We believe that private label branded and captive financing are the future of retail financing in powersports, RV, and beyond, and we’re excited to work with a leader in powersports – and a great partner – to bring this exciting new product to market,” says Steven Fernald, president and chief financial officer of Octane. “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 originate from Octane’s in-house lender, Roadrunner Financial, and will be serviced by Octane’s loan servicer.

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