Outsourced F&I Services
Our solution accomplishes three things: It reduces overall costs, mitigates risk, and improves the customer experience.
Putting together and maintaining a robust internal financing and insurance department is a bigger bite than most dealerships can chew, and many outsourced solutions are missing the services that leave customers with a satisfying buying experience.
F&I Dealership Services
Finance Solution is proving to be an essential component of our partner dealers because, at the most basic level, we are helping move more units. We do this by eliminating the overhead of internal RV and boat dealer financing departments while improving the overall customer experience.
How are we different from other outsourced recreational dealer service providers? The answer comes from our natural ability to form lasting relationships built on a foundation of trust: Relationships with lenders, with our partner dealers, and, of course, with the end customer.
An Outsourced Finance Department
What exactly are you paying for when you hire an internal financing staff? Salary and benefits, not to mention the cost of turnover and the loss of lender relationships. Realizing this, many choose to work with large outsourced providers, only to be disappointed with a lack of results. If customers can’t secure financing, no units are going to move. Finance Solution offers a better way forward through a proven ability to close loans. The best part? Our partner dealers can work with us on an ongoing basis or exclusively during holiday buying seasons.
Outsourced Insurance Services
Outside of financing, insurance might be the most important part of selling and buying a recreational vehicle. Customers want to roll off the lot confident that their insurance will have them covered should the worst occur, and dealers need to be confident that liability is being transferred appropriately. It’s difficult to imagine a worse situation than an otherwise perfect sale ending in disaster right outside the dealership. Finance Solution has the expertise to ensure both parties have peace of mind.
Warranty
Traditionally, customers are stuck with either manufacturer warranties or warranties direct from the dealer that aren’t favorable. The reason the outsourced financing and insurance providers refer to “F&I” is because warranties are usually neglected as a service. Finance Solution helps customers secure the right warranty with their purchase, one designed to keep their new RV working well for years to come and can be used nationwide. How does this help dealers? It’s simple: A better customer experience leads to more sales and more referrals.
Cost-Effective Financing Solutions
No F&I strategy, internal or external, can match what Finance Solution can provide.
Our Outsourced Financial Service Packages
The finance and accounting service professionals at Finance Solution have years of experience in the industry. While other outsourced companies may feel detached from your organization, we strive to act as an organic part of your dealership. We help your customers navigate as much of the financing process as you prefer. Our goal is to secure cost savings both for your dealership and your customers so that when your clients roll off the lot, everyone knows they made the best decisions possible.
The Finance Solution approach streamlines the entire sales process to move more units off your lot and enhance the customer experience. We offer the following customer service packages:
Full Service
For our full-service offering, the customer fills out all the necessary paperwork and your dealership shares all the pricing information. We then guide the customer through the entire sales process, from pulling their credit report to negotiating with our banking and insurance partners to secure ideal rates, terms, and contracts. Finance Solution’s financial experts walk the customer through their financing options and help them determine the best choice for their situation.
We’ve discovered that when we treat customers with full service, they tend to be more open with their information than they would otherwise. Like a recruiter who screens potential employees for a business, we’re able to discover a skittish customer more reliably than a dealership, saving you time and resources.
Half Service
Finance Solution’s half-service program allows your dealership to have some control over the financing process. We still lend a hand, but you spend more time with the customer. For example, you may handle the customer’s application and update them on their loan approval status. At the same time, we assist with finding insurance quotes and negotiating terms and rates for the purchase.
Partial Service
The partial service option is Finance Solution’s most hands-off package. Our experts secure the loan approval, and your dealership calls and talks to the customer about their financing package.
The Benefits of Outsourcing Financial Services
Finance Solution is a more affordable alternative to hiring an in-house financing team. It may seem more convenient to keep an internal team, but the reality is sobering. The cost of hiring, onboarding, training, and retaining an experienced financing department is incredibly high. Finance Solution helps small businesses like yours avoid the headache of managing new employees by providing full-time financing services that cut costs and refine the sales process.
Do you own a large dealership? Finance Solution’s services offer unparalleled scalability. If you’re caught between F&I experts or want to downsize, you can call us, and we’ll take over that day. When you experience unplanned growth, you don’t need to worry about hiring new financial professionals. Just give us a heads up, and we’ll scale our coverage to meet your needs.
When you partner with Finance Solution, you gain the following advantages:
- Financial services as needed
- Streamlined financing processes
- An experienced, full-time team
- Increased business agility and scalability
- Contacts with trusted lenders and insurance providers
Why Outsource F&I Services? The Bottom Line
At any dealership, some sort of financing structure is necessary when selling RVs, boats, trailers, campers, or vehicles of any kind. It is simply unacceptable to leave customers searching for financing on their own. If they can even secure financing at all when talking directly to a bank, the terms are likely not in their favor.
So, the question is: What is the best way to secure financing for your customers? If you’ve made it this far, we hope you’ll consider Finance Solution as your outsourced finance department. Fill out the form below to get started!
Move More Units
Dealerships that outsource their F&I through Finance Solution regularly see a 20% bump in approvals and, by extension, units moved off the lot.
