Forest River has formed Forest River Financial Services, a new corporate subsidiary that will provide participating dealers with additional financing and consumer financial products through partnerships with Octane and Aven.
The initial programs will be available to Forest River RV dealers in the United States, with program offerings, participation requirements, rollout plans and enrollment details set to be unveiled at Forest River Expo from Sept. 28 through Oct. 1.
Forest River Financial Services will launch two programs developed with Octane Lending, a fintech company, and Aven, a consumer finance company. The subsidiary is intended to complement dealers’ existing finance and insurance operations and lender relationships rather than replace them.
Dealers will remain central to customer transactions under the new programs, according to Forest River.
The subsidiary said the offerings will provide additional ways for dealers to generate demand, present opportunities for financially healthier transactions, serve qualified buyers and maintain customer relationships after a sale.
“Forest River Financial Services represents a logical and strategic next phase for our company, and we couldn’t be more excited about our new partners,” said Doug Gaeddert, president and CEO of Forest River. “We’ve been searching to find the right fit, and believe that in Octane and Aven, we’ve found them.”
Gaeddert said the company developed the programs after hearing from dealers about financial pressures affecting their businesses.
“We have listened to our dealers, and understand the margin pressure they’re facing every day,” Gaeddert said. “These new programs will create real value for dealerships of every size and based on the strength of the offerings and our strong dealer partnerships we anticipate high participation across our dealer network – with additional opportunities in the works!”
Forest River said future phases are expected to extend the programs to Canada and other business units, including Marine, Bus & Van, Cargo Trailers and Commercial Truck.
