Sheffield Financial and Polaris extend multi-year retail financing partnership

Rhea-AI Summary

Sheffield Financial, a Truist Bank division, and Polaris Inc. (PII) have extended their retail financing partnership that began in 2009. The multi-year renewal aims to provide customer-friendly installment financing options for Polaris dealers nationwide.

The partnership offers dealers access to Sheffield's comprehensive financing solutions including:

• Digital tools with prequalification technology and QR codes
• Fast approvals and simple customer-friendly contracting
• Flexible financing options for new and pre-owned powersports products
• Seven-day-a-week access to powersports-specialist underwriters

The extension reinforces both companies' commitment to providing innovative financial tools and exceptional service to support dealer operations and facilitate customer purchases of Polaris powersports vehicles.

Positive

• Long-term partnership renewal ensures stable financing options for dealers
• Digital tools and seven-day support enhance dealer sales efficiency
• Flexible financing options for both new and pre-owned vehicles expand market reach

Negative

• None.

WINSTON-SALEM, N.C., April 8, 2025 /PRNewswire/ -- Sheffield Financial, a division of Truist Bank, and Polaris Inc. (Polaris), a global leading powersports manufacturer, have extended their long-standing retail financing partnership, which began in 2009. This multi-year renewal highlights both companies' commitment to delivering customer-friendly installment financing options that enhance the retail experience for Polaris dealers and customers nationwide.

Polaris dealers benefit from this partnership with access to Sheffield Financial's nationwide installment financing, digital tools and service, including:

• Dealer-focused technology: Sheffield's online dealer portal provides Polaris dealers digital tools like prequalification technology and QR codes, allowing customers to check their buying power online without affecting their credit and easily transition to formal financing at a Polaris dealer.
• Speed and simplicity: Sheffield's financing offers speed and simplicity to finance and insurance departments of all sizes. With fast approvals, simple customer-friendly contracting and quick funding, Polaris dealers can efficiently close sales seven days a week.
• Flexible financing options: For both new and pre-owned Polaris powersports products, Sheffield provides clear, competitive and flexible installment financing options that help Polaris enthusiasts purchase their next powersports vehicle with affordable monthly payments. 
• Dedicated dealer support: Polaris dealers have access to Sheffield's powersports-specialist underwriters seven days a week, ensuring dealers have the support they need to finalize sales quickly.

"Polaris is a valued partner in our mission to deliver a flexible, convenient and friendly financing experience to powersports customers," said Susan Andersson, head of national accounts at Sheffield Financial. "This extended partnership reflects our shared commitment to providing innovative tools and exceptional service to Polaris dealers and helping customers bring their Polaris powersports adventure to life."

"Sheffield has been a reliable partner for Polaris, offering a range of fast and flexible financing tools tailored to the specific needs of our diverse dealer network. Extending this relationship highlights our commitment to providing our dealers with competitive financial solutions that support our shared growth," said Bob Mack, Chief Financial Officer and Executive Vice President, Finance & Corporate Development, Polaris.

About Sheffield Financial
Sheffield Financial, a division of Truist Bank, Member FDIC, is a trusted leader in providing simple, easy and fast installment financing to the marine, powersports, compact tractor, outdoor power equipment, and trailer industries. Founded 32 years ago, Sheffield Financial has grown into a powerhouse serving hundreds of leading brands and financing millions of customers across the USA. Backed by Truist Bank, one of the largest financial service holding companies in the USA, Sheffield Financial offers innovative financial options, friendly service and simple, easy and fast retail financing to help manufacturers and dealers drive more retail sales. Learn more at SheffieldFinancial.com.

About Truist
Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading U.S. commercial bank, Truist has leading market share in many of the high-growth markets across the country. Truist offers a wide range of products and services through our wholesale and consumer businesses, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $531 billion as of Dec. 31, 2024. Truist Bank, Member FDIC. Learn more at Truist.com.

About Polaris
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' high-quality product line-up includes the RANGER, RZR and Polaris XPEDITION and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Headquartered in Minnesota, Polaris serves nearly 100 countries across the globe. Learn more at www.polaris.com.

View original content:https://www.prnewswire.com/news-releases/sheffield-financial-and-polaris-extend-multi-year-retail-financing-partnership-302422724.html

SOURCE Sheffield Financial

FAQ

What are the key benefits of Sheffield Financial's partnership renewal with Polaris (PII)?

The partnership provides nationwide installment financing, digital prequalification tools, fast approvals, flexible financing options for new and pre-owned vehicles, and dedicated seven-day dealer support.

How long has Sheffield Financial been partnered with Polaris (PII)?

Sheffield Financial and Polaris have been partners since 2009, with the recent announcement extending their long-standing relationship.

What financing options does Sheffield offer for Polaris (PII) vehicles?

Sheffield offers clear, competitive, and flexible installment financing options for both new and pre-owned Polaris powersports products with affordable monthly payments.

How does Sheffield's prequalification technology benefit Polaris (PII) customers?

Customers can check their buying power online without affecting their credit score and easily transition to formal financing at a Polaris dealer.