Outsource Finance Service With Finance Solution
Leveraging the expert team at Finance Solution is a proven way to reduce your overall costs while boosting unit sales.
Financing doesn’t just have to be a basic function of your dealership. Instead, outsource your finance department with Finance Solution can actually drive business growth. Not only can we reduce costs, but we have a proven record of securing approvals that other providers simply can’t, or won’t because the loan is too small.
Many RV dealers offer direct financing through an internal financing department. The illusion that keeping everything in-house is better can be difficult to break, but once you break down the costs, an in-house financing department is difficult to justify.
Staffing Costs – Every solution requires an investment, but an internal staff may not be feasible. Salary and benefits alone are a cost that often can’t be outweighed, except when units are quickly rolling off the lot. Then there is the expense of having more than one F&I manager to ensure coverage while one is on vacation or sick.
Recruiting and Turnover – Finding the right experts who can negotiate with lenders to secure financing is never a sure thing. Even once you find someone, there’s always the chance they could leave for another dealership or firm.
Ongoing Lender Relationships – Building a relationship with lenders takes time and, when they’re tied to specific professionals on your staff, that relationship is always up in the air. In other words, securing the best rates for your customers is far from guaranteed.
Third-party financing through Finance Solution eliminates nearly all the costs of working with an internal department. We have a proven track record of getting more loan applications approved. Our first act in a partnership with dealers is to look over their recent application denials and show where we could have had loans approved. Generally, the rate of approval would be 20% or greater.
Many of our partner dealers turn our services on and off with the rises and falls of a seasonal market like RV sales. We only get paid when we’re closing loans. During the slow months, your financing costs are minimized. This level of flexibility is only possible through an outsourced provider like Finance Solution.
Interested in 20% more customers’ applications being approved? It’s possible with Finance Solution.
Through our ongoing relationships with lenders, our financing expertise and dedicated partnerships, we have perfected recreational vehicle financing, and our clients have noticed. Buying an RV is different than buying a house or a car, and we’re a proven partner for dealerships looking to boost sales. Getting RVs, Boats, and even the occasional motorcycle or jet ski off your lot is our specialty, and we can reduce costs in the process.
At Finance Solution, we provide financing for RV and boat transactions between dealerships and individuals. We do not finance transactions between individuals that occur on Craigslist and Facebook Marketplace. Why not? Transactions between individuals on those sites have a high risk of fraud. In some cases, a seller may claim they have a boat or RV to sell, but the supposed vehicle doesn’t actually exist. We can’t offer financing for a vehicle that may not exist at all. We also can’t finance a boat or RV that the seller claims is in good condition, but turns out to be in terrible condition when the buyer receives it. Additionally, the lenders we work with don’t want to take on the financial and fraud-related risks of transactions between individuals. That makes it more difficult for us to support those types of transactions because lender relationships are our business’s bedrock. Overall, we don’t finance transactions between individuals to protect the buyers and our relationships with lenders.
Dealerships that outsource their F&I through Finance Solution regularly see a 20% bump in approvals and, by extension, units moved off the lot. We do what it takes to secure the financing and then the profits will follow. nsion, units moved off the lot.