Peter Wasmer, co-founder and member of the Fuel Capital Group Board of Directors, announced that Rick Collins, an accomplished automotive finance executive, has been appointed chief executive officer of this fast-growing motorcycle leasing company.
“On behalf of the Fuel Capital Board of Directors, we are very pleased Rick has joined our team of professionals to put our unique business on an exponential trajectory,” said Wasmer. “Rick’s exceptional leadership and experience in the automotive finance sector is well-known. He is very well respected, and has the necessary skillset to grow the team and the systems that will be the backbone of our fast growth company.”
According to Wasmer, a search for a new leader was based upon stronger growth prospects of the company that the board sees developing over the next three to five years. The company’s early success in the pre-owned powersports business opens up the potential for additional avenues to pursue and necessitates experience to lead the firm through those growth channels. As a significant shareholder, Wasmer will continue to serve on the board of directors and serve in an advisory capacity.
“I would like to thank Peter and the board of directors for this incredible opportunity to build a powerhouse brand,” said Collins. “Together with the firm commitment from our partners, we will apply the extraordinary technology platform that was built by the Fuel team and employ it across multiple sectors, resulting in quick and profitable growth.”
Since 2013, Collins has served as the CEO of Encore Automotive Acceptance Corp, an automotive finance company servicing 1,200 dealers. He also has startup experience with Peak Acceptance, LLC, where he served as CEO of this sub-prime automotive lender. In addition, Collins has held leadership positions with Bank One Credit Company, Sovereign Bank, CitiMortgage, Inc. and CitiFinancial Auto.
Fuel Capital Group offers an authentic 24, 36 or 48 month lease on pre-owned Harley-Davidson and Indian motorcycles. Dealers pay no fees, incur no recourse and are set-up to begin offering leases in minutes. At the center of Fuel’s business is an automated proprietary system that provides instant approvals and DocuSign lease documents within seconds.
Link: Fuel Capital Group
