The Fast-Growing Electric Vehicle (EV) Industry Marks Octane’s Fourth Market Entrance in 2022
NEW YORK, November 17, 2022 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, today announced its expansion into electric vehicles (EVs) through a strategic partnership with UBCO, the electric adventure motorcycle company based in Oregon and founded in New Zealand.
Effective immediately, customers and dealers of UBCO’s fully electric suite of adventure bikes will benefit from Octane’s fast and easy buying experience. Octane’s digital platform and simple application allow customers to upload documents and apply for financing online, saving time at closing. Octane also provides soft-pull digital tools that enable dealers to instantly prequalify customers without impacting their credit scores. Through Octane’s in-house lender, Roadrunner Financial, Inc.®, UBCO dealers can offer competitive rates and flexible terms to a wide range of prime and non-prime customers, making electric bikes accessible to more customers.
UBCO has seen its dealership and customer base growing fast in the US, alongside the nation’s growing hunger for adventure and off-road exploration.
“UBCO wants to get more people on two-wheels than ever before,” said Phil Harrison, Chief Revenue Officer at UBCO. “Up to 92% of Americans currently don’t participate in Powersports and we want to change that by providing approachable, easy to ride vehicles that expand Powersports to the masses. Octane’s purely digital experience is a key part of the value proposition to our customers.”
“We’re thrilled to partner with UBCO to bring our seamless buying experience to even more enthusiasts and to fuel our customers’ lifestyles in an environmentally-friendly way,” said Jason Guss, CEO and Co-Founder of Octane. “The EV industry allows us to merge technology, sustainability, and innovation while tapping into a rapidly-expanding market and delivering on our mission to connect people with their passions.”
Today’s announcement follows a period of growth for Octane. The company recently surpassed $1B in year-to-date originations and brought its digital buying experience to three new markets: RVs, tractors and trailers.