August '20

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92 • RV PRO • August 2020 rv-pro.com and information about obtaining preap- proval for credit to make the purchase easy. The website should be engaging and invite the customer to submit some basic information so that the customer can get prequalified to apply for a loan. For example, 700 Credit has a cute, short video clip that the company has cre- ated, which is fun and effective and will authorize a soft credit pull. These measures can be a real step forward in making the finance process easy for those customers who have less-than-stellar credit. For the most part, people with present credit difficulties will not have those difficulties forever, so placing them in a face-saving environment is essential in creating an enduring business relationship. The key to maximizing F&I profits is to build the number of finance deals you control. That means that the finance rep- resentative must talk with every customer and sales personnel must turn every oppor- tunity to the finance personnel. Finance personnel must greet every customer with a positive mental attitude. They also should be willing and able to present a cash conversion plan to those who are thinking about paying cash, or using a credit union or bank conversion plan for those who are thinking about using their own financial resources. While you will not be able to finance every purchase, you will end up financing more than you are now by providing all customers a positive reason to finance using your resources, and thereby saving their resources. Customers want the ease of doing business with a click of a mouse. Still, it is important that you not shortcut your finance presentation. Instead, become comfortable with using the telephone and internet meetings to create that lasting relationship with the customer. If cus- tomers feel they know you, like you and trust you, they will listen to what you have to say about your ancillary products. Most RV ancillary products are fairly well-known to customers. However, they may not know what is available through you. For example, customers all know about protective coatings, but they may not know about the one you represent. The customer also is likely concerned about the ease of clean up and the ease of keeping an RV sanitized. Make it a point to let them know how the product you represent addresses those issues. It's important to ask yourself: Has the online wave affected your F&I bottom line? Are you holding reserve? Is the F&I department selling ancillary products and services? You need to make sure you are addressing these issues. Why Change? Many of you have had some record-set- ting months lately, and you might be thinking: Why change a thing? "Life is going great for us," you might say. As I keep telling finance managers, make it while you can! Life has cycles and so does our industry. We should prepare for what I see as the new paradigm. With change comes new opportunities. We must keep our eyes open to them and be prepared to cease the moment. Adapt to the new way of doing business and thrive. The F&I department should have a strong presence on a dealer's website.

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