Mogo Romania enters recreational vehicle financing market through a partnership with ATVRom
Source：https://business-review.eu/business/auto
From：Taiwan Trade Center, Bucharest
Update Time：2024/07/23
Mogo Romania, a company specialising in providing financing for individuals to purchase used vehicles, announces its entry into a new lending segment through a strategic partnership with ATVRom, the leader in the recreational vehicle market in Romania. Thus, the companies strengthen their positions in the Romanian automotive sector, adapting their offerings to the diverse and dynamic needs of customers.
The partnership comes in response to the significant growth in the recreational vehicle segment in Romania. The number of registered motorcycles in Romania marked a 9% increase at the end of 2023, according to DRPCIV data. Additionally, Statista data indicates a 9.6% growth in the ATV market from 2020 to 2023, forecasting that this segment will reach $19.32 billion globally by 2030.
“The partnership with ATVRom, along with the context of the recreational vehicle market, represents an opportunity for us to expand our portfolio of financial products and cater to a new segment of consumers. We are committed to continuously diversifying and adapting our offerings to the changing needs of our customers. Our goal is to solidify our position in the auto lending market and actively contribute to increasing mobility in Romania. We aim for recreational vehicle financing to make up 10% of our loan portfolio in the near future,” declares Lucian Prună, General Manager of Mogo Romania.
The loan application process is simple and fast. Customers can apply for financing directly from the Mogo platform, ATVRom showrooms, or online on the company’s website. The necessary documentation is minimal, only an ID card is necessary. Loan approval is done within a few hours, and the vehicle can be purchased the same day, either delivered at home or picked up personally from the retailer’s locations.
As a result of the partnership, Mogo customers can access financing for a wide range of ATVs from renowned brands such as CFMoto, Polaris, Can-Am, GOES, and Kawasaki, available on the ATVRom platform. Additionally, consumers benefit from flexible financing, competitive interest rates, personalised repayment terms, and consultancy services.
Source: https://business-review.eu/business/auto