HorsePower extends credit facility with Pier Asset Management

HorsePower Financial Services has extended its credit facility with Pier Asset Management as it looks to broaden access to powersports leasing. The Tampa, Fla.-based powersports lender has grown in recent years by focusing on consumers who may not qualify for traditional financing and offering leasing as an alternative, Leanne Richards , vice president of client development, told Auto Finance News . “If you're looking at something for 72 to 84 months, it's going to be a while before you're in a spot where it makes sense to trade out of it from a financial standpoint,” she said. “With a lease, you don't really have that. You can start looking at those options quickly.” With the demand for leases growing, HorsePower announced it is working with powersports dealer management system provider Revvable to launch a tiered financing waterfall that routes applications through multiple financing options in real time, according to an April 20 company release. The integration launches nationwide on June 20. Through the waterfall approach, customers are first evaluated for traditional finance and insurance programs on Revvable’s platform and directed to leasing options — including programs that do not rely on FICO scores — if needed, Richards said. “If you're smart and you do the waterfall integration, then anything that you have that's declined by traditional lending can automatically go to us,” she said. CFMoto partnership As part of its expansion, HorsePower launched a nationwide off-road vehicle (ORV) leasing program with powersports OEM CFMoto on April 8, according to a company release. The program introduces leasing to the ORV segment and represents the company’s biggest OEM relationship to date, Richards said. [caption id="attachment_58360919" align="aligncenter" width="600"] (Courtesy/HorsePower Financial)[/caption] ORV “has been an underserved area of the market, so it's very exciting for us to be able to [lease] these ORVs, especially with CFMoto, because they have such a progressive product with such a great price point that this makes it very obtainable for people in that subprime tier,” she said. CFMoto led the ORV segment with 10.7% year-over-year sales growth in March, according to an April 14 BMO Capital Markets research note. That growth outpaced the market, with most OEMs seeing limited growth or declines compared with March 2025. [caption id="attachment_58360917" align="aligncenter" width="640"] (Chart/Auto Finance News | Source: BMO Capital Markets)[/caption] HorsePower's growth HorsePower’s underwriting model evaluates a borrower’s financial stability and ability to pay rather than focusing on credit scores, Richards said, allowing it to offer deals from prime to subprime with an approval rate greater than 40%. Leasing also offers flexibility, shorter terms and faster trade cycles, with many customers reaching positive equity positions within 18 to 24 months, which especially benefits new riders , Richards said. “As technology keeps progressing and these cool things are coming out on the market, this provides that flexible [financing] option for a new rider,” she said. To support its growth, HorsePower extended its credit facility with a fund managed by Pier Asset Management, according to an April 8 company release. The relationship, which began in 2024, allows the company to fund lease originations and expand operations, Richards said, declining to provide further details on the credit facility. HorsePower works with about 1,400 dealerships and multiple OEMs nationwide, with a large portion of the base added over the past two years, Richards said. Auto Finance News will present multiple invaluable events for industry professionals in 2026, starting with Auto Finance Summit East and Auto Finance Capital Summit in May. To see event agendas and register, visit autofinance.live .

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HorsePower extends credit facility with Pier Asset Management

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