F&I is a Critical Hub
February 29, 2008
During boat shows, many manufacturers include a service agreement with the purchase of the boat. When manufacturers give away added protection, they eliminate one of the critical profit centers of the dealer’s F&I department. With deals like that, how can F&I continue to grow and contribute... Read more »
Like a kid in a candy store
February 29, 2008
Accessibility and options are often the keys to a successful F&I department. Many customers’ first contact with a dealership is online. Why not add an F&I element there? Many Web site providers offer online credit applications for dealer sites. When Slalom Shop Boats & Yachts revised... Read more »
Keeping customers afloat
February 29, 2008
At many dealerships, finance and insurance enter the picture only after a boat is sold. At Marine Center of Indiana, based in Indianapolis, the company’s finance department can sometimes play an integral role in the sales process itself. The dealership has a rule that anytime a customer asks about... Read more »
A symbiotic relationship
February 29, 2008
Liquid Sports Marine is a long-time believer in in-house F&I. It not only has the function in-house, but it’s backed by at least one full-time F&I salesperson and turns over 100 percent of customers to this person or department. The Orlando, Fla.-based dealership has used this structure since... Read more »
Philosophy in action
February 29, 2008
A carefully selected, sought after and adhered to finance and insurance department structure and philosophy can cultivate a positive customer encounter. Galati Yacht Sales aims to achieve an enhanced buying experience with its business office. The Anna Maria, Fla.-based marine dealer has taken a traditional... Read more »
F&I Connection
February 29, 2008
At Marine Connection in West Palm Beach, Fla., the company places a big focus on its F&I business, and it shows throughout the company. For starters, whereas most dealers don’t realize the link between their F&I offering and their CSI scores, Marine Connection showed on one of its annual... Read more »
Calculation Losses
February 29, 2008
Calculating losses Many dealers have no idea what they’re sacrificing by not properly approaching their F&I business. Such is not the case, however, with Port Harbor Marine. This South Portland, Maine-based dealership knows exactly how much it loses in such situations. In fact, by calculating... Read more »
Extending profitability
February 29, 2008
There are dealers across the country who sell themselves short when it comes to F&I. They find myriad excuses to complain away the reasons they don’t offer F&I services to their customers. “Our typical customer does not finance the purchase,” they’ll tell you. Or, “Due to the demographics... Read more »
Sea Ray to eliminate 350 jobs
February 29, 2008
MERRITT ISLAND, Fla. – Sea Ray Boats will eliminate 350 jobs by midyear at its Merritt Island, Fla. plant because of slumping demand for boats, Florida Today reported in an article on its Web site yesterday. Sea Ray will stop production of some boat models on Merritt Island after June and move production... Read more »
Operating profits up for Teleflex’ marine biz
February 29, 2008
LIMERICK, Pa. – Teleflex Inc. (NYSE:TFX) saw some improvements in its marine business during the fourth quarter ended Dec. 31, it reported in a statement yesterday. The company manufactures steering systems and controls for the boating market. “Our marine business delivered a solid performance in... Read more »
