Speed Leasing originated more than $20 million worth of leases through June and is on track to add another $10 million before the summer season closes, Frank Dionisi, the lessor’s national director of sales, told Powersports Finance.
“We are growing rapidly, but we are growing on plan,” Dionisi said. The company is on track to originate $30 million in leases before motorcycle season slows down by summers end. Since its inception in April 2017, Speed Leasing has never turned down a loan applicant, he added.
Speed Leasing specializes in pre-owned Harley-Davidsons, but the company has interest in expanding to other manufacturers, Dionisi said.
“We don’t know if we want to get into snow or watercraft, but we want [to move beyond Harley’s],” he said. “But it has to be with makes or models that have predictable future values — the residual value is the most important part of the equation for a lease.”
A few manufacturers that spark Speed Leasing’s interest are Honda, Kawasaki, Suzuki, and Triumph Motorcycles, he said.
“We want to be everywhere, but we have to develop the Harley Davidson platform entirely,” Dionisi said. “But we are always on [the look out] for what the next market is.”
This article was originally published by PowerSports Finance.