Small Dealership Financing for RVs and Boats
AbstraktMarketing • January 4, 2021
Small dealerships need RV financing and boat financing services just as much as large dealerships do. Outsourced financial services provide the resources small dealerships need to help their customers. Let’s look at how these outsourced services are structured and how they support small dealerships.
How Does Outsourced Financing at a Small Dealership Work?
Small dealerships want to offer their customers the financial services that help them afford RVs, boats, and travel trailers. However, this can sometimes be difficult because small dealerships often don’t have the resources to staff and support an entire financing department the way large dealerships do. That’s where outsourced financial services come in. Outsourced financial service companies like Financial Solution can provide financial expertise and connections to lenders that help you offer the best deals to your customers.
What Problems Do Outsourced Financial Services Solve?
When you outsource your dealerships financial services, you create new ways to solve the following problems:
Staffing
Often, when small dealerships try to staff their own internal financing and insurance (F&I) departments, they deal with staffing costs and problems. How do they support financing managers’ salaries and benefits? How do they balance managers’ schedules so someone is always available to help customers set up their financing options? Outsourced services remove staffing issues by taking in-house staffing out of your F&I equation.
Lender Relationships
When your dealership has an in-house financing department, you are responsible for cultivating and maintaining relationships with lenders. Outsourcing your financial department allows you to partner with a company that already has healthy long-term relationships with lenders. For example, Financial Solution maintains many solid lender relationships that allow us to offer your customers the best possible loan terms for their financing needs.
Outsourcing your F&I services is an easy way to solve these problems. It also reduces the amount of time you spend worrying about and managing your F&I services.
How Do These Outsourced Services Help Your Customers?
Our outsourced small dealership financing services help you reduce your overhead and your internal financial management responsibilities. When we take over those responsibilities, we allow you to focus on helping your customers choose recreational vehicles. However, our services also help your customers more directly. For instance, we use our lender relationships to help them access to the right RV and boat loan amounts. We also ensure that the lenders offer loans with the right annual percentage rates for each customer’s needs. When you partner with Financial Solution, we provide services that help you and your customers.
Why Work With Financial Solution?
Partnering with Financial Solution is a great option for small dealerships because we have a proven track record of getting loans approved. When you start working with us, your loan approval rate can jump to 20% or greater. We also understand that RV and boat sales are seasonal, so we scale our services up and down as our partner dealerships need them.
We don’t just offer financing services, though. We also provide insurance services to our partner dealerships to make sure their units are protected once customers purchase them. Here are the different types of insurance we help dealerships and customers acquire:
RV Insurance:
- Bodily injury liability
- Property damage liability
- Medical payments coverage
- Physical damage coverage
- Uninsured/underinsured motorist coverage
- Uninsured motorist property damage
Boat Insurance
- Collision damage
- Property damage liability
- Comprehensive (damage from non-collisions)
- Uninsured/underinsured boater coverage
We ensure that small dealerships can help their customers acquire these forms of insurance coverage, so they are protected and feel confident in making high-risk investments.
Improve Your Dealership’s F&I Services With Financial Solution
Do you want to outsource your small dealership’s financing services? If you do, reach out to Financial Solution today. We’re ready to scale our services to your needs and improve your F&I offerings and capabilities. Partner with us today to reduce the amount of in-house F&I responsibilities you need to manage while improving the financing service you offer your customers. Let us help you provide your customers with the support they need to purchase the RVs and boats they want.
The post Small Dealership Financing for RVs and Boats appeared first on Finance Solutions.
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