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Financing, Portfolio News


Roadrunner Preps For Nationwide Expansion After Launching Used Program

Published:

Sep 22, 2017


Source:

PowerSports Finance

Posted In:

Financing, Portfolio News

Published:

Sep 22, 2017


Source:

PowerSports Finance


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COLUMBUS, Ohio — Roadrunner Financial will officially become a national lender after launching into South Dakota and Vermont within the next three months, President Jason Guss told Powersports Finance during a meeting at AIMExpo 2017.

The expansion news comes on the heels of the lender’s “second-look” used financing program launch on May 15.

New York, N.Y.-based Roadrunner — which was founded by the same team behind Octane Lending Inc. — specializes in financing customers with “less-than-perfect credit, and who otherwise would be declined from traditional, legacy lenders,” according to a company press release.

Roadrunner is currently partnered with 13 OEMs and more than 1,000 dealers. The near-prime lender makes loans for consumers with Fico scores as low as 550, and loan terms can go as low as 24 months.

Roadrunner’s used program “more than doubles the amount of vehicles dealers can finance, helping dealers to provide financing to even more of their customers,” the release states.

While a majority of Roadrunner’s business is new financing, the used-financing program has been extremely successful so far. 80% of Roadrunner’s dealers who are using the second-look lender for their new programs also are utilizing it for their used programs.

Jason Guss, President - Roadrunner Financial

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