Sheffield Financial expands pre-owned financing, boosts dealer flexibility
Sheffield Financial is expanding its pre-owned powersports financing program, introducing broader vehicle eligibility, higher loan advances and new dealer incentives aimed at helping dealers move used inventory.
The updates significantly widen the pool of financeable units. Off-road vehicles are now eligible if they are model year 2016 or newer (up to 10 years old), while on-road models qualify back to model year 2006 (up to 20 years old).
More units eligible, higher advances
In addition to expanded age limits, Sheffield increased its advance policy to up to 135% of Average NADA Retail Value, based on customer creditworthiness. Buyers can also finance an additional $2,500 for cancellable back-end products, including service contracts and warranties.
The move gives dealers more room to structure deals, especially on higher-mileage or older inventory that may have previously fallen outside traditional financing guidelines.
Dealer incentive added
To further support pre-owned sales, Sheffield is offering dealer incentives of up to $400 per eligible transaction, providing an additional margin opportunity for dealers working to turn aged inventory.
“These enhancements reflect Sheffield’s commitment to making pre-owned vehicles more accessible and easier to purchase,” says Chris Cushing, chief sales officer. “We’re helping buyers find the right powersports vehicle while giving dealers more tools to serve their customers.”
Pre-owned opportunity
With affordability pressures continuing to affect new-unit sales, expanded financing for pre-owned units presents a key opportunity for dealers to drive volume and improve inventory turns.
The updated program is available for qualified applicants through participating dealers. Sheffield Financial operates as a division of Truist Bank.
Dealers are encouraged to contact their Sheffield representative for full program details and eligibility requirements.
