MotoLoan Tests Loan Program With Zero-Down Payment Option

MotoLease has been piloting since April a new lending subsidiary, called MotoLoan, which offers consumers the chance to buy powersports vehicles without a down payment, Managing Partner Emre Ucer told Powersports Finance.

Through the zero-down-payment offer, consumers are preapproved for loans of a specific size. As long as the transaction falls below the preapproved amount, the consumer can avoid making a down payment for the powersports unit. For example, if a consumer is preapproved for a $15,000 loan and the transaction price falls below that limit, they “don’t have to pay a dime,” Ucer said. However, if the finance deal ends up being $17,000, the consumer would have to put down $2,000.

Read more at PowersportFinance