Synchrony Financial has announced a multi-year agreement to be the exclusive provider of consumer financing for all new and used CFMOTO brand ATVs, UTVs and Side-by-Side products sold in the United States.
CFMOTO is a global manufacturer of powersports products sold at more than 200 dealerships in the United States. The multi-year agreement will allow qualifying buyers to access promotional installment financing offers through CFMOTO dealers.
A survey conducted on behalf of Synchrony Financial underscored the importance of financing, with 52% of survey respondents who used dealer financing saying they would not have made the purchase, or gone to another retailer, if financing were not available. Additionally, 82% of survey respondents who used dealer financing said financing allows them to know their monthly payment for budgeting purposes, and 76% said financing helps make large purchases more affordable.
“This exclusive agreement with CFMOTO allows us to provide financing options for its customers wanting to take their dream products home on the same day,” said Glenn Marino, executive vice president and CEO, Payment Solutions, Synchrony Financial. “The ability to provide financing is important for dealers to enhance the shopping experience and to grow their business.”
“Synchrony Financial is a leader in the powersports financing industry, and will be instrumental in providing us the insights and the tools to grow sales for our dealers nationwide,” said Eric Fan, Chief Financial Officer, CFMOTO. “Convenient access to financing will help our dealers close sales and help consumers pursue their powersports passions.”
