When it comes to f&i powersports dealers have to look at allowing another company take control of this for them, simply because the benefits of doing so are so numerous. If you have a powersports dealership or a dealership which also trades in powersports vehicles, there are many options for you in terms of outsourcing which will enable you to count on these benefits. Naturally whenever you are looking at outsourcing an area of the business it should always be done with an eye on the returns that business can expect, in order to understand whether or not it is a profitable option. When it comes to the finance and insurance sales for a dealer, here are the benefits which they will see once they have outsourced.
Speed of Sale
When you have been working on a customer for a short time, showcasing what you have for them and then they eventually decide to close the deal, the last thing they want is to then have to sit for another hour in the office going through finance paperwork or insurance details, in some cases customers even have to go home to get the necessary documentation. When outsourcing this area of the business, the dealership can move onto the next customer more quickly, and that of course helps to make more money.
There is far more to f&i than just finance agreements and insurances and to cover all bases you’ll have to train staff to a high level in order to understand them all. When you outsource this aspect of the business however you can count on a team who already understand the likes of Contract and Tire and Wheel protection, Accelerator Systems and roadside assistance for ATVs or UTVs. For a business this means that the customer will have access to the full range of add-ons, without you having to hire and train staff on what they are and how to best sell them.
Most dealerships will keep their staffing levels to a minimum which means that having an f&i specialist in house makes little sense, especially given that they are only really going to be put to work a couple of times per month. The sensible thing to do therefore is to hire multi-functional staff, but they are very hard to find. The smart choice for a dealership therefore is to hire sales people, and allow them to be nothing more than that, great sales people. In terms of the f&i, that can be outsourced to allow your staff to do what they do best, and that is sell vehicles. Not only is outsourcing this area of the business a profitable choice, it will also allow your staff to get back to basics and work hard on selling as many vehicles as they can, keeping them happy and making sure that the money keeps rolling in.
A smart move for any dealership to make.