#United States #New York #Huntington Bank #Husqvarna #Octane

Husqvarna Partners with Octane and Huntington Bank to Enhance Customer Financing

In a significant development to improve the purchasing process for outdoor power equipment (OPE), Husqvarna has announced a strategic partnership with Octane, a fintech innovator, and The Huntington National Bank. This collaboration aims to revolutionize the financing experience for both dealerships and customers through a comprehensive digital platform that simplifies the entire sales and financing process.

Streamlined Financing Options

The new initiative, known as the Huntington Bank Powered by Octane program, allows Husqvarna dealers to manage the entire finance and sales workflow from a single interface. This approach is designed to make the buying experience more accessible, allowing customers to move from prequalification to closing with ease. Qualified applicants will benefit from competitive financing options through Huntington, while those with near-prime credit can find favorable terms via Octane's in-house lender, Roadrunner Financial, Inc.

Jon Vestal, Executive Vice President and General Manager of Recreational Lending at Octane, expressed enthusiasm about this partnership, stating, "We are excited to expand our relationship with Huntington to offer streamlined financing and enhanced technological interfaces to Husqvarna OPE dealerships." This new direction not only eases the financing burden for dealers but also enhances customer satisfaction by simplifying their purchasing journey.

Tim Skinner, Managing Director of Consumer Lending at Huntington, added that the collaboration helps dealers gain the speed and simplicity they need at the point of sale. "With more customers entering the pipeline, we notice a surge in interest from manufacturers and dealers who appreciate a simplified, digital-first financing process. We’re delighted to have Husqvarna join our roster of customers," he remarked.

Enhanced Dealer Portal

The Huntington Bank Powered by Octane Dealer Portal is built on the same advanced technology that underpins Octane's existing dealer portal. This upgrade means that dealers and customers can anticipate quicker navigation during the financing process as they encounter simplified loan applications, rapid credit decisions, and straightforward management of loan terms and necessary documentation.

Dealers will relish the platform's customizable terms and user-friendly navigation, facilitating a seamless transition through various stages of the financing journey. Richard Bennett, Sales Director at Husqvarna Group North America, shared his excitement about the new initiative: "We are thrilled to implement the Huntington Bank powered by Octane program for our dealers and customers. This partnership will significantly enhance the sales and buying experience and contribute to our business growth."

About the Partners

Founded in 2014, Octane is on a mission to redefine financial services for outdoor power equipment and beyond. By integrating state-of-the-art technology with innovative risk management strategies, they make financing accessible for businesses catering to high-quality consumer goods, such as powersports vehicles, RVs, marine products, and OPE.

With a network of over 4,000 dealers and partnerships with 50 Original Equipment Manufacturers (OEMs), Octane’s commitment towards creating an efficient end-to-end digital purchasing experience has made them a key player in the financial technology landscape.

On the other hand, Huntington Bancshares Incorporated has established itself as a formidable regional banking entity with a history dating back to 1866. With nearly 1,400 branches spread across 21 states, they provide a comprehensive suite of banking services tailored to meet the varying needs of consumers, businesses, and municipalities.

Husqvarna Group, with roots in Sweden that trace back to 1689, is a leading global brand in outdoor power products, delivering innovative solutions for managing forests, parks, and gardens. Its commitment to high-quality solutions has cemented its reputation across the globe, serving customers in over 100 countries.

As this partnership unfolds, there's significant anticipation around how it will reshape the financing landscape for OPE, benefiting both dealers and consumers, ultimately cultivating a more efficient retail environment.