ATV Trader Now Offering Instant Credit Approvals Online

This could be good. Dangerous but good.

If, like us, you’re always browsing ATV classifieds looking for the next machine you can’t afford, don’t need and can’t make room to store, we have great news.

Finio, Inc., the groundbreaking 360-degree digital lending platform, today announced it is powering the instant credit approval process for qualified individuals on cycletrader.com and atvtrader.com featuring FreedomRoad Financial – a division of Old Second National Bank. The experience allows customers to apply for financing directly on Cycle Trader’s and ATV Trader’s online marketplaces and securely obtain offers of credit to make purchases within minutes.

“This partnership gets our dealers and us early exposure to high-intent buyers,” states Darin Campbell, President National Specialty Lending, Old Second National Bank. “Customers can walk into the showroom with credit approval in hand, making it easier for our dealers’ salespeople to quickly close the deal.”

Finio’s credit discovery tools include a simple 2-step prequalification process as well as a full credit application. Online shoppers have the option to get prequalified for financing based on a soft pull of credit, which does not adversely affect the credit score. Alternatively, buyers can obtain firm offers of credit from those lenders that already work with the dealership selling the unit of inventory.

“Getting instantly approved for credit right where you are shopping for your next motorcycle or ATV is boosting customer value,” exclaims Troy Snyder, VP of Digital Retailing and Private Marketplace at Trader Interactive. “While serving vehicle buyers, we are also creating value for our dealer partners with enriched leads that are prescreened for finance-ability.”

Finio estimates that 70 to 80 percent of motorcycle and powersports retail sales require financing. By streamlining the credit approval process with the industry’s most innovative digital retailing and lending tools, the Finio platform unlocks incremental sales opportunities.

“The finance experience in powersports is highly fragmented,” explains Nick Stellman, COO at Finio. “Traditionally, customers and dealers had to fill out multiple different forms just to secure a single approval. Finio is eliminating this redundancy with a consolidated, simple, and user-friendly process.”

Finio also offers prequalification and credit approval tools directly to manufacturers and dealerships, which can have them installed on their own websites – configured for their respective brands and business needs.

For more information, visit www.ATVTrader.com.