American recreational vehicle brand Forest River has formed a new corporate subsidiary company that will provide its participating dealers in its network with new financing and consumer financial products.

Forest River Financial Services, as the new subsidiary will be known, has been created in partnership with Octane (Octane Lending, Inc.), and will launch two distinct programmes through participating Forest River RV dealers throughout the United States. These dealers will be able to offer end users additional retail lending alongside their own offerings that are designed to make the purchase process faster, easier, and more profitable.

Future phases are expected to include Canada and additional Forest River business units, including Marine, Bus & Van, Cargo Trailers and Commercial Truck. Timing and program details for future phases have not yet been announced.

“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. They both offer great products, but more importantly, they are great people – industry leaders – and they fit well with our culture.

“We have listened to our dealers and understand the margin pressure they’re facing every day. 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 Consumer Cards will give participating dealers a new sales and loyalty tool via Aven that is designed to provide a differentiated financing option to boost purchasing power and extend the customer relationship well beyond the initial purchase.

“Our dealers are central to Forest River, and their ability to grow profitably is central to our growth,” said Darrel Ritchie, CFO of Forest River. “Forest River Financial Services was created to house a new set of tools that fuel this growth. The programs we’ve developed with Octane and Aven not only protect dealer margins, they also drive new sales opportunities back to our dealers. This is only the beginning of what we expect to build.”

Photo: Forest River RV