RumbleOn Inc. Announces Strategic Partnership with MotoLease LLC
MotoLease is a financial services company that offers unique consumer leasing programs, and is a preeminent provider of motorcycle and powersport lease financing for credit-challenged lessees. This strategic partnership will enable RumbleOn to better serve customers looking to buy a motorcycle or other recreation vehicle who would typically be unable to secure a lease from a traditional financial institution. "We are excited to work with MotoLease to provide innovative online leasing solutions to our customers, who we know are increasingly looking to research, buy, and secure financing for a motorcycle or recreational vehicle all in one online location," said RumbleOn Founder and CEO, Marshall Chesrown. "As always, we aim to exceed customer expectations by providing an unparalleled experience, seamless sales process, and affordable lease payments and terms, and our partnership with MotoLease will enable us to better deliver on this goal."
Emre Ucer, Managing Partner of MotoLease said, "We look forward to partnering with RumbleOn to accelerate and simplify their sales process for customers, with an easy-to- understand, paperless financing solution that is completed entirely online. As an industry disruptor, RumbleOn recognizes that more and more power sport shoppers are looking to purchase online. With our solutions, RumbleOn can provide consumers with an innovative and unified online buying process, from research to financing."
About RumbleOn RumbleOn operates a capital light disruptive e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell- Trade-Finance pre-owned motorcycle and other powersport and recreation vehicles in one online location. RumbleOn's goal is to transform the way motorcycles and other powersport and recreation vehicles are bought and sold by providing users with the most efficient, timely and transparent transaction experience. RumbleOn's initial focus is the market for 601cc and larger on-road motorcycles. Serving both consumers and dealers, through its online platform, RumbleOn makes cash offers for the purchase of their vehicles and intends to provide them the flexibility to trade, list, or auction their vehicle through RumbleOn's website and mobile applications. In addition, RumbleOn offers a large inventory of used vehicles for sale along with third-party financing and associated products. For additional information, please visit RumbleOn's website at www.RumbleOn.com. Also visit the Company on Facebook, LinkedIn, Twitter, Instagram, YouTube and Pinterest.
About MotoLease MotoLease was founded in 2010 with the first of its kind powersport vehicle leasing program to address the significant market potential for leasing to individuals covering a full spectrum financing options. MotoLease is considered a frontrunner in motorcycle and powersport lease financing for credit-challenged lessees and is the largest leasing company in powersports with over 85% market share has a growing staff of over 100 team members. MotoLease is uniquely positioned with in-house customer service, credit underwriting and lease servicing departments to provide second-to-none customer experience with no dependency on third-party service providers. MotoLease is targeting the entire credit spectrum of powersport leasing, including underserved near and sub-prime consumers as well as prime consumers in the powersports market.
Forward-Looking Statements This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements include whether this strategic partnership will make a significant and immediate contribution to the Company and whether this strategic partnership will be able to assist in the Company's rapid expansion. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q and other SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contact: Alecia Pulman (Media) / Megan Crudele (Investors) ICR RumbleOn@icrinc.com 646-277- 1200