12 • July 2025 • Powersports Business
FINANCE www. PowersportsBusiness. com
Octane earns FICO Decision Award, expands credit access with FICO Auto Score 10
Global analytics software firm FICO announced on May 22 that Octane Lending earned a 2025 FICO Decision Award for Customer Onboarding and Management.( Image: FICO)
Global analytics software firm FICO announced on May 22 that Octane Lending earned a 2025 FICO Decision Award for Customer Onboarding and Management.
Octane offers financing to recreational markets with its digital tools, credit products, and technology-powered end-to-end financing experience. Octane uses FICO Auto Score 10 and its own Octane score to assess the risk of purchases. By focusing on predictive analytics, Octane has expanded credit access while maintaining risk management standards.
“ By building strong risk programs, we ensure that our business remains profitable, and we continue to support our partners,” says Mark Molnar, chief risk officer at Octane.“ FICO Auto Score 10 underpins our risk management capabilities and positions us for long-term growth as we continue to serve our partners.”
Octane offers dealers a technology platform and an end-to-end product suite to help them offer a seamless financing experience to customers, increasing dealer and OEM sales and profitability. In 2024, Octane increased originations by 36 % year-over-year.
Octane’ s prequalification tool, Prequal Flex, allows its 1,200 users to embed a unique-tothem financing link or QR code into their online and in-person marketing. Prequal Flex features a soft credit pull that doesn’ t impact a buyer’ s credit score until a contact is generated.
“ Octane isn’ t just streamlining financing— it’ s making it easier for people to turn their passions into reality,” says Joe McKendrick, analyst and senior contributor at Forbes, one of the FICO Decision Awards judges.“ Octane’ s ability to balance risk management with a seamless customer experience stood out to the judges. By integrating smart credit [ decision-making ], it’ s giving more consumers access to recreational purchases while helping dealers grow their businesses.”
As a result of its strong risk management and credit performance, Octane
DEALER FINANCIAL SNAPSHOT has developed a capital markets program driven in large part by its use of FICO scores and has issued more than $ 4 billion of asset-backed securities. Through this program, the company has also sold or entered into forward flow commitments of over $ 2 billion since its first whole-loan sale in late 2023 and has originated more than $ 6 billion in aggregate originations.
VOLCON
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powersports market,” says Steve Wilcoxon, president of Dealer Direct Financial.“ Our floor plan program is designed to give dealers the flexibility and access they need to meet customer demand and grow their businesses. By offering tailored financing solutions, we’ re helping bring Volcon’ s electric off-road vehicles to more showrooms— and more riders— across the country.”
NORTHWEST-2.1 % Parts Department 2.1 % Service Department 4.6 % Major Units 3.6 % Overall
WEST-7.5 % Parts Department-3.9 % Service Department-7 % Major Units-6.7 % Overall
UNITED STATES
-3 % Parts Department 2.1 % Service Department-1.8 % Major Units-1.6 % Overall
MIDWEST-0.6 % Parts Department 1 % Service Department-3.1 % Major Units-2.5 % Overall
SOUTH-0.3 % Parts Department 4.1 % Service Department 1.3 % Major Units 1.4 % Overall
NORTHEAST-5.2 % Parts Department 1.6 % Service Department-3.8 % Major Units-3.4 % Overall
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MAY 2025 VS. MAY 2024
Dealers reported modest declines in three of the four departments in May, while service revenue was slightly up for the month, according to composite data from more than 1,800 U. S. dealers that use the Lightspeed DMS. The West was down 7.5 % in parts sales compared to May 2024, followed by the Northeast, down 5.2 %, and the Northwest, which dropped 5.6 %. Both the Midwest and the South were practically even, dropping by less than 1 % in parts sales. Service revenue increased in
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every region except for the West, which saw a 3.9 % decline. The South gained 4.1 % compared to May last year, while the Northwest saw an uptick of 2.1 %. Both the Northeast, 1.6 %, and the Midwest, 1 %, had modest gains. Throughout the country, unit sales were down a combined 1.8 %, with the West having the largest decline of 7 %, followed by the Northeast and the Midwest, dropping 3.8 % and 3.1 %, respectively. The Northwest made the biggest gain when compared to May of last year, increasing unit sales by 4.6 %, followed by the South, which gained 1.3 %. |
PARTS SALES Parts revenue was up at 894 dealerships and down at 1,037.
SERVICE SALES Service revenue was up at 968 dealerships and down at 904.
MAJOR UNIT SALES Unit sales were up at 801 dealerships and down at 900.
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FOR MORE ON THE SAME STORE SALES DATA
For more information on this report and other industry data, contact: lightspeeddms. com
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