Synchrony Financial has signed a multi-year deal to provide consumer financing for Mahindra’s powersports division in the U.S., the companies announced in a press release.
As the preferred lender for Mahindra Vehicle Sales and Service, Synchrony will provide promotional financing options for new and used powersports vehicles and accessories to the OEM’s U.S. dealer base.
“With more than 25 years of experience in financing for the powersports industry, we know how to help Mahindra grow and expand its emerging brand in the US,” Neeraj Mehta, chief executive of Synchrony Payment Solutions, said in a press release. “By providing consumers with fast and convenient access to financing, we’ll help dealers close sales and help consumers pursue their powersports passions.”
Synchrony will offer promotions on Mahindra’s line of off-road vehicles including the ROXOR, a side-by-side off-road vehicle that will launch across the U.S. in the spring.
Through the partnership, Mahindra dealers will also have access to Synchrony’s financial tools, such as the Installment Loan Estimator, which can help consumers with financing decisions by allowing them to see how different loan amounts and interest rates will affect their monthly bill.
Mahindra Vehicle Service & Sales is a subsidiary of Mahindra & Mahindra, a vehicle manufacturing conglomerate headquartered in Mumbai, India. The OEM signed Wells Fargo Commercial Distribution Finance as its preferred floorplan provider in February of this year in a multi-year deal that will see the captive finance Mahindra’s U.S. inventory.
“As we enter the U.S. market, Synchrony will play an important role in helping to grow sales of Mahindra’s powersports vehicles and accessories,” said Luc de Gaspe Beaubien, vice president of sales and service for Mahindra. “Our dealers will benefit from being able to offer powersports and outdoor enthusiasts financing options for Mahindra’s new disruptive products.”
Synchrony Financial performs lending services for several OEMs in the powersports market, such as Polaris, Kawasaki Motors Corp. USA, CFMOTO USA, and Suzuki Motor of America.
Source : AutoFinanceNews
