Octane Launches "Octane Preferred", B2B Loyalty Program with Exclusive Benefits

Program Builds on Octane's Fast, Easy Experience with VIP Member Rewards and Service

NEW YORK, March 9, 2023 /PRNewswire/ -- Octane® (Octane Lending Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it launched Octane Preferred™, an innovative business-to-business (B2B) loyalty program with exclusive benefits. The multi-tiered program builds on Octane's fast and easy digital experience and is available to its over 4,000 enrolled powersports dealers.

Octane Preferred members receive white glove treatment and exclusive benefits, including early access to new products and customizable marketing tools that help dealers drive sales. Dealers earn status by funding deals through Octane's in-house lender, Roadrunner Financial, Inc., and benefits increase with each tier of loyalty earned. Dealers can see the full list of benefits in their personalized dashboard and track their performance and progress to the next tier. Currently, Octane Preferred has two tiers, with more tiers and benefits rolling out in the coming months.

"We're thrilled to reward dealers for their business with our experiential loyalty program that adds VIP service and exclusive benefits to the speed and ease dealers already receive from Octane," said Onaisa Landis, Vice President of Marketing at Octane. "Octane Preferred is just one of the many ways that we're using innovation and technology to provide a better user experience and lead the industry forward."

After piloting Octane Preferred with a pool of select dealers in 2022, the program went live nationwide in March 2023. During the pilot, exclusive membership benefits saved dealers over 200,000 minutes spent processing funded applications. At the same time, Octane saw a 5% increase in retention among dealers in the pilot program.

Powersports dealers in the United States who do not currently offer financing through Roadrunner Financial can become eligible for Octane Preferred by enrolling here.

About Octane:
Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases–like powersports vehicles, RVs, and outdoor power equipment–fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we're a remote-first company with over 30 OEM and 4,000 dealer partners. Visit www.octane.co.

Octane® is a registered service mark of Octane Lending, Inc.

Media Relations: Shannon O'Hara
Senior Director of Corporate Communications at Octane                            
[email protected]                                                                  

Investor Relations: Kartik Kothari
SVP of Corporate Development and Investor Relations at Octane
[email protected] 

SOURCE Octane