Honda Motor Partners with Octane to Enhance Financing for Non-Prime Customers
- Honda Motor partners with Octane Lending to offer financing options for non-prime customers starting July 30, 2025.
- The initiative allows individuals with less-than-perfect credit to qualify for loans on Honda's full range of products.
- This collaboration aims to enhance customer access and stimulate growth within Honda's dealer network.
Honda Motor Expands Financing Options for Non-Prime Customers Through New Partnership
Honda Motor Co. is set to enhance its financing offerings for customers in the United States by partnering with Octane Lending, Inc. This collaboration introduces innovative financing options specifically designed for non-prime customers, effective July 30, 2025. It represents a significant shift in Honda's approach to financing, allowing individuals with less-than-perfect credit to qualify for loans on the entire range of Honda motorcycles, scooters, all-terrain vehicles (ATVs), and side-by-sides. This initiative not only broadens Honda's customer base but also strengthens its commitment to making powersports accessible to a wider audience.
The partnership leverages Octane's in-house lender, Roadrunner Financial, Inc., to provide tailored financing solutions that cater to the needs of non-prime borrowers. This move marks a milestone in Honda's financing strategy, as it is the first time that non-prime options are available through a Honda partner. Jon Vestal, Executive Vice President of Recreational Lending at Octane, notes the partnership's potential to enhance the customer financing experience while also providing dealerships with expanded sales opportunities. This initiative aims to stimulate growth within Honda's dealer network, allowing them to reach new customers and drive sales without incurring additional costs.
As Octane continues to gain traction in the recreational vehicle financing market, this partnership not only reflects Honda's dedication to customer accessibility but also showcases Octane's robust market presence. With over 60 OEM partnerships and achieving significant sales milestones, Octane demonstrates its capability to simplify the financing process through technology and innovative risk strategies. The collaboration between Honda and Octane is poised to inspire more enthusiasts to explore Honda's diverse product lineup, ultimately contributing to a more inclusive powersports community.
In addition to the new financing options, Honda's dealer network stands to benefit significantly from Octane's suite of digital tools. These resources aim to streamline the sales process and enhance customer interactions, allowing dealers to focus on expanding their business. Cory Findlay, Manager of Sales Support at American Honda, emphasizes that this partnership aligns seamlessly with Honda's mission to make powersports more attainable for everyone.
Overall, this collaboration is a strategic move that not only expands Honda's financing capabilities but also reinforces its position as a leader in the powersports industry. By prioritizing accessibility and leveraging digital tools, Honda and Octane are set to transform the customer experience and invigorate the market for recreational vehicles.