Marks Third Market Entrance for Octane in 2022
NEW YORK, September 21, 2022 — Octane® (Octane Lending Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, today announced its entrance into the Recreational Vehicle (RV) market. Effective immediately, RV customers, dealers, and Original Equipment Manufacturer (OEMs) will benefit from Octane’s fast and easy digital buying experience.
The RV segment is Octane’s third new vertical in 2022, following its recent expansion into tractors and trailers. The RV market is a logical progression for the company given Octane’s success in the adjacent markets of Powersports and Outdoor Power Equipment (OPE) and the RV industry’s paucity of available digital tools.
Historically, buying an RV has been a slow and manual process. By combining cutting-edge technology with innovative risk modeling and superior service, Octane delivers a seamless, end-to-end buying experience that speeds up transactions to benefit customers, dealers, and OEMs alike.
Octane adds value at each stage of the customer journey. Customers can shop with confidence using Octane Prequal, the company’s ecommerce tool that provides an instant financing decision through its in-house lender, Roadrunner Financial, Inc., with no impact to a customer’s credit score. Octane’s digital financing platform enables customers to upload documents and complete their applications online before ever walking into a dealership, which saves time at closing. Additionally, through its in-house loan servicing arm Roadrunner Account Services, Octane supports customers with a superior customer experience through the life of each loan.
“We’re excited to transform buying in the RV market with our seamless user experience,” said Jason Guss, CEO of Octane. “By expanding into RVs, we’re better able to deliver on our mission to connect people with their passions and make lifestyle purchases fast, easy, and accessible.”
Octane also supports dealers and OEM partners by enabling consumers to prequalify for financing on dealer and OEM websites, bringing web visitors into the transaction flow and driving incremental, qualified buyers to dealerships for a superior digital-to-retail experience.
Furthermore, for select strategic partners, Octane customizes its proprietary technology platform and tailors its lending and servicing capabilities to enable partners to better support their own customers throughout the entire buying journey with a superior, branded (private label) experience.