#United States #New York #Huntington Bank #Octane Lending #SCAG Power Equipment

Streamlined Financing for Outdoor Power Equipment Purchases

In a significant move to enhance the purchasing experience for outdoor power equipment (OPE), Scag Power Equipment has joined forces with Octane Lending and Huntington Bank. This collaboration aims to introduce innovative financing solutions that not only benefit dealers but also provide consumers with a seamless buying process.

About the Partnership

Octane, a fintech company known for revolutionizing financing options, along with Huntington Bank, recognized the need for efficiency in the OPE market. Their new initiative, titled the Huntington Bank Powered by Octane program, targets Scag dealerships, enabling them to manage sales and financing through a cohesive and intuitive digital platform. This integration facilitates a smoother process from prequalification to closing, marking a significant improvement over traditional financing methods.

Benefits for Dealers and Customers

The partnership presents several advantages. First and foremost, dealers can access a full-spectrum financing option that offers both prime and near-prime financing solutions. Qualified applicants will find appealing financing offers through Huntington, while Octane’s in-house lender, Roadrunner Financial, Inc., will provide additional support for those seeking near-prime options.

"We're delighted to work alongside Huntington and Scag to bring rapid and straightforward financing to more OPE customers," expressed Jon Vestal, Executive Vice President of Recreational Lending at Octane. His comments underscore the partnership's goal of enhancing consumer access to high-quality products while bolstering OPE dealers’ business efficiencies.

Tim Skinner, Managing Director of Consumer Lending at Huntington, also emphasized the importance of this initiative. He noted that this approach reinforces their commitment to offering fast and flexible financing solutions, thereby increasing the reach of their services in the OPE market. This collaboration stands as a testament to the evolving landscape of retail financing, meeting the contemporary needs of equipment dealerships and end-users alike.

The Technology Behind the Portal

The technological framework of the Huntington Bank Powered by Octane Dealer Portal is based on Octane's advanced dealer portal technology. It offers a host of features designed to enhance efficiency:

• - Simplified loan applications that are short and user-friendly.
• - Near-instant credit decisions to quicken the financing process.
• - The ability for dealers to customize loan terms and manage documentation seamlessly.

This streamlined structure allows dealers to focus more on customer service and less on paperwork, which can otherwise be a barrier to completing a sale. The improved workflows lead to faster transactions and, by extension, satisfied customers who can make informed purchasing decisions quickly.

Scag’s Commitment to Excellence

Bruce Medd, Director of Finance at Scag Power Equipment, reiterated the company’s dedication to equipping dealers with essential resources to cater to their customers effectively. The collaboration with Huntington and Octane not only diversifies financing options but also enhances the overall purchasing experience, aligning with the high standards that Scag customers expect.

About the Companies

Octane is transforming the financial landscape by integrating sophisticated technology with innovative risk management strategies, facilitating fast and accessible purchasing for various lifestyle needs, including automotive, powersports, and outdoor equipment.

Huntington Bancshares, a robust regional bank headquartered in Columbus, Ohio, offers a comprehensive suite of financial products, reflecting its long-standing commitment to serving communities across 21 states.

Scag Power Equipment, a leader in the manufacturing of commercial and residential mowing and debris management equipment, prides itself on quality and performance. Their partnership with Octane and Huntington signifies a forward-thinking approach to tackle the complexities surrounding the equipment purchase and financing.

In summary, this strategic alliance between Scag, Octane, and Huntington is a game-changer for the outdoor power equipment industry, promising to deliver a more efficient and customer-friendly purchasing process, which will ultimately drive growth and satisfaction in this competitive market.