Dealerships make most of their profit from repeat customers; those who come in for routine service and maintenance, repairs, oil change, and other such services. F&I products like extended service contracts, battery replacement, tire and wheel coverage, and other similar programs are but one way to encourage repeat business. Powersports extended service companies usually offer a suite of F&I solutions to dealerships to provide additional services to their buyers.
From extended service contracts to total loss protection, tire and wheel programs to lifetime battery replacement, these contracts offered by F&I solutions providers promise to enhance your customer’s ownership experience. Here comes the tricky part, which of the powersports extended service companies that approach you truly have your, and your customers’, best interests at heart? Here are a few ways to help you vet the “candidates:”
1. They must understand your customers’ needs, first and foremost.
A powersports vehicle is vastly different from regular car or vehicle, primarily for the way they are built and used. As you know, powersports vehicles like an ATV, UTV, dirt bike, snowmobile, or even a jet ski, are used for recreational activities, which means they are subjected to more “abuse,” so to speak. This also means they are more prone to breaking down and may need more and frequent repairs than the average car or vehicle.
2. They must be flexible enough to accommodate your needs as well as your customers’ needs.
For F&I solutions to truly work for you, they must be able to fulfill the dealership’s and the customer’s needs. To put it another way, powersports extended service companies must be able to provide you with products that benefit both you and your customers at the same time, with every product offered you.
You could say it should be a three-way benefit: It benefits the provider. It benefits the dealership. And it benefits the customers. Any other way wouldn’t work at all.
3. The provider must always be available for assistance.
Sometimes, F&I solutions providers become hard to reach once the deal is signed. They have poor after-sales support, and you wouldn’t want to partner with someone like this because you risk receiving the ire of your customers, which could eventually lead to losing them over something that isn’t directly your doing.
The bottom line is, you must make sure to do your due diligence when it comes choosing the best F&I provider for you from among the many powersports extended service companies that approach you.
Torque-Group is the leading F&I Solutions provider in the country. You may reach them at (800) 859-0590 for questions or inquiries. Can’t wait to get started? Sign Up today.
