Ariens, Gravely, Octane, and Huntington Team Up for Streamlined Financing Experience

Innovative Partnership for Outdoor Power Equipment Financing

In a significant move to enhance the purchasing experience for outdoor power equipment (OPE), Ariens and Gravely have partnered with Octane Lending, Inc. and The Huntington National Bank. This collaboration aims to deliver a comprehensive, seamless financing experience for both dealers and customers involved in the OPE market.

The Power Behind the Partnership

Octane is a fintech company known for unlocking the potential of financial products, enabling retailers and consumers to access innovative financing solutions. With this partnership, both existing and new dealers of Ariens and Gravely can utilize a state-of-the-art platform that manages the sales and financing processes from start to finish.

Through the Huntington Bank Powered by Octane program, dealerships will streamline their operations, making the overall buying journey considerably faster and more efficient. From prequalification to closing, dealers and customers will benefit from a consolidated approach that simplifies financial transactions.

Enhanced Financial Options for Consumers

Customers looking to purchase Ariens or Gravely products will have access to various financing options tailored to their needs. Qualified applicants will be presented with prime lending offers from Huntington, while those with near-prime credit profiles will benefit from financing through Octane's in-house lender, Roadrunner Financial. This dual-lending approach ensures that a wider range of consumers can secure the financial support they need to make their purchases.

As Jon Vestal, the EVP and General Manager of Recreational Lending at Octane, stated, “We’re excited to team up with Huntington to bring a faster, easier financing and technology experience to Ariens and Gravely outdoor power equipment dealerships across the country.” This partnership embodies Octane's commitment to integrating technology with financing solutions, enhancing the consumer retail experience across different markets.

Streamlining the Sales Process

The newly launched dealer portal, powered by both Octane and Huntington, incorporates cutting-edge technology to expedite and simplify the finance application process. Dealers can expect short and straightforward loan applications with near-instant credit decisions, allowing them to quote, make decisions and close deals in one seamless application.

Emily Hoyer, Director of Credit at AriensCo, remarked on the impact of this collaboration, stating, “With the fresh approach they [Octane and Huntington] are bringing to retail financing, we will be able to provide our dealers with significant advantages in both approval rates and efficient processes.” Notably, this change aims to revolutionize traditional perceptions regarding financing in the dealer community, presenting a path forward with increased confidence and reduced barriers.

About the Companies Involved

Founded in 1933 and based in Brillion, Wisconsin, AriensCo manufactures outdoor power equipment under the Ariens® and Gravely® brands. They are committed to delivering quality products for both consumer and commercial needs, and their RapidCare division exemplifies their focus on dealer support.

Octane, established in 2014, has rapidly emerged as a leader in providing innovative financing solutions, boasting numerous partnerships with over 4,000 dealers and 50 OEM partners. Their mission is to deliver flexible and accessible financial products designed to accommodate various purchasing needs.

On the other hand, The Huntington National Bank, headquartered in Columbus, Ohio, is a well-established financial institution offering comprehensive banking solutions to a variety of clients, including consumers and businesses alike. Their significant assets and widespread branches across 21 states underscore their commitment to providing quality financial services.

Conclusion

The alliance of Ariens, Gravely, Octane, and Huntington presents an exciting opportunity for transformation within the outdoor power equipment financing sector. By leveraging technology and streamlined processes, they aim not only to facilitate quicker sales transactions but also to enhance customer satisfaction across the board. As the landscape of retail continues to evolve, this collaboration sets a new standard in the industry, focusing on accessibility and speed for both dealers and buyers alike.