Six-month-old motorcycle leasing firm adds Indian dealers to its pre-owned Harley-Davidson model, now partnering with dealers in 18 states.
Starting Fuel Capital Group in August on both a business model and a partnership that made Chrome Capital a success, the Naples-based motorcycle leasing company has already fueled riders of pre-owned Harley-Davidsons by partnering with more than 85 dealers in 18 states.
Now the company has added another iconic brand. It recently announced a $100 million fund to back leases for pre-owned Indian motorcycles.
“Indian is a natural extension to our Harley-Davidson leasing business model,” Fuel Capital partner and CEO Peter Wasmer tells Coffee Talk. “The value characteristics of the assets are similar and the riders choosing an Indian are virtually the same in nature to the those choosing to ride Harley-Davidsons.”
Fuel Capital partners with dealers of pre-owned motorcycles by offering a 100% digital contracting and automated funding solutions at an accelerated pace for riders seeking to lease motorcycles. The company holds the asset, which can either be purchased by the rider at lease termination or sold at auction, repurchased by a dealer and often leased again by Fuel Capital.
“We put our dealer partners’ needs first, especially eliminating friction in their sales process through faster and easier processes,” Fuel Capital partner and CFO Stephen Swain says in a statement. “We just help them put more riders on more Harleys, and now Indians. Dealers want a finance partner that not only pays predictably fast, but also understands how important repeat customers are to their business. We do that very well.”