Capital One (NYSE: COF) has signed a three-year financing services agreement with BRP US Inc. “BRP”. This new relationship reinforces Capital One’s commitment to building its private label credit card business.
The contract covers revolving financing for BRP’s Ski-Doo snowmobiles, Sea-Doo watercraft and Can-Am all-terrain vehicles, side-by-side vehicles and Spyder roadsters sold by BRP dealers in the United States.
“Capital One values strategic partnerships with brands such as BRP that deliver real value and offer consumers expanded buying power and a great customer experience,” said Bill Cilluffo, Executive Vice President, Card Partnerships at Capital One. “We’re looking forward to working with BRP, and are honored to help support its growth and position as an industry leader.”
Capital One’s partnership with BRP provides consumers with access to credit that can be used for accessories, services and/or vehicles at BRP dealerships. Offerings include a Life of Loan product, which is designed to be paid off over a set term, as well as promotional rate financing options, which have a low intro APR for a set period of time.
“BRP is always looking for new ways to ease the purchase process for our consumers. This three-year agreement with Capital One provides our American dealers with options they can present to their customers,” said Yves Leduc, vice-president and general manager, North America division.
About Capital One
Capital One Financial Corporation (
) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N. A., had $206.9 billion in deposits and $289.9 billion in total assets as of September 30, 2013. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.
Bombardier Recreational Products Inc. (BRP) is a global leader in the design, development, manufacturing, distribution and marketing of powersports vehicles. Distributed in 105 countries, its portfolio of brands and products includes Ski Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am all-terrain and side-by-side vehicles, Can-Am roadsters, Evinrude outboard engines, as well as Rotax propulsion systems. BRP employs approximately 6,800 people worldwide.