The primary purpose of auto dealerships is to generate increased revenues. While almost all Americans need to possess a car of their own to ensure the daily commute and necessary travel, buying a motorcycle, an ATV or an RV is more related to leisure travel and reckoned to be an additional expense. Taking part in a quality powersports F&I manager training program is thus advisable for dealership employees who need to convince their customers about the efficacy of investing in a Powersports vehicle and are equipped with the knowledge as well as the associated skills to ensure the closing of the deal.
Why should you take the powersports F&I manager training?
It is important to understand that the manager undertakes more responsibility than other staff employed by the Powersports F&I Department. It is further imperative to know that the challenges of an F&I manager are diverse from those of an ordinary auto dealership, with many additional aspects requiring close consideration.
The role of an F&I manager of all dealerships, including those that provide Powersports sales & services is more or less similar. However, there are a few things that are linked to these special types of vehicles and must be dealt with accordingly. The F&I manager must therefore work closely with the customers, financing institutions, and insurance companies alike before successfully closing a deal. The responsibilities that the manager needs to focus on when heading the F&I Department of a Powersports dealership usually include the following: –
Financing Related
- Assessing the needs of the customer and providing them with appropriate plans for obtaining financing
- Working with all lending financing agencies to secure the best interest rates that are favorable for the customers.
- Explaining the diverse financing options to the customers, including information related to loans and leases
- Coordinating with financial institutions to secure suitable financing for the customers
Insurance Related
- Offering several suitable insurance products, especially those related to credit insurance and service contracts, to the customers.
- Explaining the benefits of the insurance products and addressing all customer queries
- Making sure that all insurance transactions are compliant with the industry regulations
Maximizing Profitability of the Dealership
- Trying to achieve the goals by increasing the gross production of financial services and products that are known to increase the revenue
- Enabling the dealership to earn additional revenue by selling financing and insurance plans
- Training the sales staff on the available finance and insurance programs and explaining their benefits to the team members who will deal with the customers directly
Taking the powersports F&I manager training successfully can be advantageous in the long run not only for the concerned manager but also for the other staff members working in the Department with the following being appreciated hugely:
- Increased Revenue Generation
- Appreciable Customer Services
- Increased Income Potential
- Enhanced Customer Service
- Improved Customer Loyalty
Expanded skills can be of personal advantage with the manager and sales staff being able to master communication skills and the ability to listen to the customers’ viewpoint thereby ensuring quick and flawless resolution of the problems.
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