If you’ve purchased a vehicle at a dealership before or work at a Powersports dealership, then it’s likely you’ve come into contact or heard of a dealership’s F&I department. F&I stands for Finance and Insurance, in case you were wondering.
At a Powersports dealership the situation is no different. A Powersports F&I specialist will be able to walk you through completing all required legal documentation associated with a Powersports purchase, whether it’s a motorcycle, an ATV, a watercraft, or anything else that ends up under the Powersports umbrella.
The F&I department of your Powersports dealership can easily be considered one of the most important profit generators of your company. Successful F&I practices will take into consideration both the customer and the dealership itself, reaching a satisfactory end for both parties when it’s time to sign on the dotted line.
An effective F&I department will be able to secure ideal financing for their customers through the right lending source — a lending source that your F&I department should have a good working relationship with, which will end up optimizing speed and efficiency.
When your customers finance and insure their Powersports vehicles through the avenues provided by your dealership, this will enhance and deepen your relationship with each customer, which will exponentialize their likelihood of doing business with your dealership again in the future.
At the same time successful F&I will increase your dealership’s ability to earn income beyond the initial sale of your Powersports vehicles, giving you additional products and solutions to offer your customers, like extended service contracts, GAP coverage, wheel and tire assistance, roadside assistance, and more.
However, you must incorporate the right F&I solutions custom-tailored to help your business succeed.
Torque Group provides sales, F&I products, and services to Powersports dealerships across the United States. We are committed to providing the very best solutions that help protect and extend the enjoyment of your customers’ Powersports purchases, whether that be an ATV, UTV, an off-road or an on-road motorcycle, or a watercraft. Contact us today to learn more about our in-store training that will help prepare your team of associates for your next phase of growth.
Your Powersports dealership can always count on Torque Group for solutions like TLP (Total Loss Protection), ESC (Extended Service Contract), Accelerator System, Lifetime Battery Agreement, GAP Protection, F&I Training, Tire and Wheel protection, roadside assistance, and more. For over 15 years, Torque Group has provided F&I business solutions to help make Powersports dealers more successful.
