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When you hear “F&I”, think Powersports. We're the nation's largest
finance and insurance service provider in the power sports industry.
What is “F&I”?
F&I stands for Finance and Insurance and is commonly referred
to as the dealership's “fifth profit center”.
F&I is potentially the largest profit center in your dealership.
If you don’t have the time, expertise or knowledge to manage
or start an in house F&I department then Powersports may be
your answer.
Finance
- By offering financing you control the sale.
- Some lenders pay up to 6% or more for placing the loan with
them.
- Provide one-stop shopping for your customers.
- Offers your customers more competitive loan rates.
- Gross profits increase when you sell payments versus price.
- Service contract sales increase when you provide financing.
- Relationships are developed with lenders, which gets more deals
approved.
- Increases unit sales by 10-15% on average.
Insurance
- Give your customers peace of mind and protection against future
repair expenses.
- Improve your CSI ratings.
- Increase service volume and profitability after the initial
sale.
- Build better customer relations and loyalty.
- Sales of service contracts can double front-end gross profits.
- The additional profit can allow you to price more competitively.
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“Powersports has helped
to increase our sales approximately 25% over last
year’s figures. Their staff is extremely
well trained and extremely knowledgeable about
the product and services available to our customers.”
Jim Beckley
Beckley’s Boats
“Finance professionals
say well-executed sales of finance and insurance
(F&I) products often provide more net income than
a dealership’s parts and services departments
combined.”
Guido Ebert
Powersports Magazine
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