V-Twin Gives Its Dealers Lower-Cost Financing
LAS VEGAS--June 19, 2001--V-Twin Holdings, Inc., (OTCBB: VTWN) will provide showroom floor financing to its owned and operated retail stores exclusively from Motorcycle Funding Corporation, V-Twin announced today.
Roger Cheek, Chief Executive Officer of V-Twin Holdings, said, "V-Twin's retail stores will now have in-house financing that's less expensive and more flexible than traditional floor plans. We'll have a significant advantage in an area that's a big cost in powersports retailing, because our interest charges will be lower. Motorcycle Funding Corporation will also support a broad and exciting range of models on the showroom floor from traditional brands to custom bikes from Independence Express, American Performance Cycle, Carefree Custom Cycles and others.
"We look forward to expanding our agreement with Motorcycle Funding Corporation and offering its low-cost financing as part of the broad dealer support and e-commerce package provided to independent dealers that license our Bikers Dream brand name."
Powersport dealers purchase motorcycles, ATVs and personal watercraft directly from manufacturers and merchandise them for resale to the general public. The cash required to purchase this inventory is borrowed from third party financing companies who stipulate which brands a dealer can finance. Under today's agreement with Motorcycle Funding Corporation, V-Twin Holdings' owned and operated dealers can inventory any motorcycle from any manufacturer.
V-Twin Holdings, Inc., headquartered in Las Vegas, Nevada, owns several powersport retail stores and operates the Bikers Dream licensing and dealer support network. V-Twin Holdings also operates CycleClick.com, an easy-to-use web-based marketplace for independent powersports dealers.
Motorcycle Funding Corporation is a newly created finance company incorporated in Nevada.
