EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced that it is augmenting its powersports product portfolio and field team professionals in response to significant demand within the market for the company’s unique F&I engagement model.
“What we’ve found is that powersports dealers feel underserved in the F&I space, and are lacking in the training, compliance and technology support from their current providers,” said John Pappanastos, president and CEO, EFG Companies. “We are actively growing our product suite and professional account service team to accommodate this market demand.”
EFG is launching a new Motorcycle Pre-paid Maintenance program, designed to cultivate customer loyalty, and attain a larger, long-term margin on repeat business in both sales and the service drive. Dealerships utilizing this program have the opportunity to provide substantial value to their customers, leading to upsell opportunities in the service department and repeat sales in the showroom.
Three terms are available, with coverage for up to 37 months, or 9 services. Claims are electronically filed and are often paid in full before the service is complete. This is the latest in EFG’s powersports portfolio, which includes its award-winning certified pre-owned program, vehicle service contract, tire and wheel protection, roadside assistance, guaranteed asset protection, and the award-winning WALKAWAY for Motorcycle Dealers.
“Typical pre-paid maintenance plans require customers to maintain a strict maintenance schedule based on pre-set mileage intervals. If a customer does not have the maintenance performed during the mileage interval, they lose the benefit,” said Glenice Wilder, vice president of Powersports, EFG Companies. “With EFG’s Motorcycle Pre-paid Maintenance, customers are not required to maintain any such schedule and their services can be utilized at any time. We view this as one of the product’s biggest differentiators as it provides enhanced protection for customers, preventing them from forfeiting services because they were unable to schedule their service within a certain mileage.”
To support the strong market demand for EFG’s heavy account service model, the company is expanding its powersports field team with two new professionals, Mitch Mayberry and Zachary Boger.
With more than 25 years of experience in the powersport industry, Mayberry will oversee client accounts, addressing performance trends, conducting quarterly reviews, and cultivating revenue growth opportunities for our clients. In this role, he will also manage, train, and assist dealer personnel to facilitate maximum productivity, while also managing compliance initiatives. Mayberry was most recently the General Manager for Big Tex Indian in Denton, TX.
Boger will utilize his in-depth business development, sales and marketing background to deliver aggressive action plans to change the face of powersports dealer F&I performance. This will include comprehensive competitive research, strategic benchmarking against dealership performance goals, and extensive business development assessments.