NAPLES, FL – December 6, 2012 – (Motor Sports Newswire) – Chrome Capital, a Naples, Fla.-based leasing company, is attracting Harley-Davidson owners back into dealerships with its newest financing product. Cash & Ride™ is a buy-back program that puts money in the hands of current Harley owners while keeping them on their bikes, and retaining Harley customers for dealers.
“This is the most innovative financial product to hit the Harley market,” said Peter Wasmer, CEO of Chrome Capital. “Cash & Ride is a purchase lease-back model that achieves three things: it brings Harley owners back into dealerships, gives riders cash for their bikes, and sends them home riding the same bike they came in on. The rider’s cash can be spent as he chooses – including accessorizing his bike while at the dealer.”
Chrome’s dealer partners also earn dealer participation fees for facilitating the Cash & Ride. The company’s TestRide lease programs deliver control of the customer relationship in the same fashion a car dealer benefits from repeat sales and predictable customer retention. In both the standard 24-, 36-, or 48- month TestRide lease and the Cash & Ride program, the rider returns to the dealer at the end of the lease, helping to cultivate customer retention.
“I’ve seen quite a few customers sell into the slow season to make sure they can cover the holidays by selling their bike. With Cash & Ride, riders get cash without having to give up riding their bikes, and we have the chance to pick up a new customer who may not have ever been in the store” said Greg Baer, General Sales Manager of Rommel Harley-Davidson in Smyrna, DE.
Designed for the Harley owner who may be in need of cash and doesn’t want to give up riding his bike, through Cash & Ride, Chrome purchases the bike from the rider and leases it back to him. The rider is flush with cash, and, with a 24- or 36- month Chrome Capital TestRide® lease, rides his bike home, or wherever the road takes him. The rider is afforded the same options at the end of the Cash & Ridelease as a traditional TestRide lease: return the bike to the dealer, get another bike at the dealer, or purchase the bike back at a very favorable price.
“With Chrome’s products, Dealers see a higher degree of transactional volume on an annual basis, and can rely on the predictability of the lease to drive future, additive sales”, said Stephen Swain, Chrome’s Chief Financial Officer.
Chrome Capital’s dealer relationships stretch nationwide from New Hampshire to Florida and as far west as Washington State.
For more information about Chrome Capital, visit www.chromecapital.com.