Brunswick Corporation Re-Defines Marine Consumer Financing with the Launch of Brunswick Finance, a New Private Label, Digital Retail Financing Solution

Rhea-AI Summary

Brunswick Corporation announces the upcoming launch of Brunswick Finance, a digital finance solution that simplifies the retail purchase process for consumers and dealers. The solution offers end-to-end integration and competitive rates, aiming to improve the consumer finance experience.

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• Brunswick Finance will simplify the purchase process, offering competitive rates and ensuring a seamless transaction. The solution aims to improve operating efficiency, cash flow conversion, and interest savings for dealers.

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METTAWA, Ill. , Oct. 25, 2023 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) today, announced the upcoming launch of Brunswick Finance, a state-of-the-art, industry-leading digital finance solution that simplifies the retail purchase process by leveraging a fully integrated technology platform linking consumers, dealers, and Brunswick brands with an easy to use, digital interface allowing for quicker qualifications and faster processing.  

The new solution that will be launched prior to the end of the year, will be accessible through the Brunswick Finance portal and offers end-to-end integration across the boat buying ecosystem, from applying for pre-qualification to underwriting, finalizing agreements and e-signing for loans.

“Brunswick Finance immediately improves the consumer finance experience for our channel partners and will fundamentally change and simplify the purchase process, offering competitive rates and ensuring a seamless transaction,” said Bijoy Jha, Vice President - Brunswick Financial & Business Services. “This solution exists in many other verticals such as automotive, and now, we can work with our customers to create one central hub for all consumer lending needs and reporting.”

Brunswick Corporation will partner with Aqua Finance, a full-spectrum lender, with collaboration from Apollo. Brunswick Finance brings together Aqua’s retail financial services with inventory financing solutions provided by Wells Fargo. The integrated nature of wholesale financing programs provided by Brunswick Acceptance Company (BAC) with retail finance services provided by Aqua Finance can help deliver important benefits to dealers in terms of operating efficiency, cash flow conversion and interest savings.

“We are proud to join forces with Brunswick Corporation to offer a superior customer experience for Brunswick dealers and consumers,” said Kurt Grossheim, CEO, Aqua Finance. “With a legacy serving marine recreational dealers, our full-spectrum financing solutions are poised to give Brunswick dealers and consumers a simpler, faster and better path to access best-in-class financing solutions across all channels.”

The new platform will place a customer’s pre-qualification link on the dealer’s website in connection with the associated Brunswick Corporation new inventory (and used units) to drive consumer activity. The solution also gives dealers greater optionality and choice through seamless integration with Brunswick Acceptance Company, allowing them to see their outstanding inventory financing balances and automatically pay off wholesale loans when customer financing is secured, reducing paperwork, and staffing needs.

About Brunswick Corporation:
Brunswick Corporation (NYSE: BC) is the global leader in marine recreation, delivering innovation that transforms experiences on the water and beyond.  Our unique, technology-driven solutions are informed and inspired by deep consumer insights and powered by our belief that “Next Never Rests™”. Brunswick is dedicated to industry leadership, to being the best and most trusted partner to our many customers, and to building synergies and ecosystems that enable us to challenge convention and define the future. Brunswick is home to more than 60 industry-leading brands. In the category of Marine Propulsion, these brands include, Mercury Marine, Mercury Racing, MerCruiser and Flite. Brunswick’s comprehensive collection of parts, accessories, distribution, and technology brands includes Mercury Parts & Accessories, Land ‘N’ Sea, Lowrance, Simrad, B&G, Mastervolt, RELiON, Attwood and Whale. Our boat brands are some of the best known in the world, including Boston Whaler, Lund, Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver. Our service, digital and shared-access businesses include Freedom Boat Club, Boateka and a range of financing, insurance, and extended warranty businesses. While focused primarily on the marine industry, Brunswick also successfully leverages its portfolio of advanced technologies to deliver an exceptional suite of solutions in mobile and industrial applications.  Headquartered in Mettawa, IL, Brunswick has more than 18,000 employees operating in 27 countries. In 2023, Brunswick was named by Forbes as a World’s Best Employer for the fourth consecutive year and has been one of America’s Most Responsible Companies by Newsweek for three consecutive years. For more information, visit www.Brunswick.com.

About Aqua:
Aqua Finance is a leading non-bank, full-spectrum lending platform operating in all 50 states that originates and services consumer loans, primarily for home improvement, recreation, pool/spas, and water treatment. With its network of over 5,000 dealers, contractors, and retailers, Aqua Finance delivers flexible and consumer-friendly financing programs so families can bring their dreams to life. To learn more, visit www.aquafinance.com.

What is Brunswick Finance?

Brunswick Finance is a digital finance solution that simplifies the retail purchase process for consumers and dealers.

What are the benefits of Brunswick Finance?

Brunswick Finance aims to improve the consumer finance experience, offering competitive rates and ensuring a seamless transaction. It also improves operating efficiency, cash flow conversion, and interest savings for dealers.

Who are the partners involved in Brunswick Finance?

Brunswick Corporation is partnering with Aqua Finance, a full-spectrum lender, with collaboration from Apollo. Aqua Finance provides retail financial services, while Wells Fargo provides inventory financing solutions.

How does Brunswick Finance integrate with dealers?

Brunswick Finance places a customer's pre-qualification link on the dealer's website in connection with the associated Brunswick Corporation new inventory. It also integrates with Brunswick Acceptance Company, allowing dealers to see their outstanding inventory financing balances and automatically pay off wholesale loans when customer financing is secured.