Content provided by United States Warranty Corporation
For many in the powersport industry January is a regroup, reassess and ramp up opportunity. Penetrating markets and exploring forces affecting business models are top of mind. If you fall into this group, read on.
With the market fluctuations these days, owners and F&I administration are looking toward full-service contract administration. Moreover, dealerships that have mixed inventory like RVs, motorcycles, boats & PWCs are becoming more common place and your team may need an extended warranty company that has this at the core of their business model. Because we are a family-owned company that has been in this space for over 48 years, we wanted to create space for common questions that arise in the aftermarket world.
We hear from dealer networks across the US and Ontario, Canada how having a one stop shop, automating the F&I process with a cloud-based F&I management platform and solutions tailored to dealership needs is what their organization wants. Does yours? For example, having a unique exclusionary product solution is helpful to new motorcycle owners, but it takes a unique skill set sometimes to educate the consumer about the pros and cons.
With all the technological advancements, check if your service contract provider covers GPS and LED components. Usually these are on the “exclusions list” meaning “not covered”. How low do they go for a deductible and offering discounts? Having a 24/7 in-house claims adjuster team is another best practice. Here are a few questions we received at ACCELERATE and AIM: Are the extended warranty products customizable? How is the onboarding? Do we provide training & tips on how easy it is to sell service contracts/ancillary products? Do we have a dedicated rep if questions or custom quotes are needed on a Sunday afternoon? Is your sole passion outdoor recreational vehicles (not automobiles)? The answer to all these questions should be YES!
We love educating our customers so please feel free to engage us with your Powersport extended service protection product questions? Send your questions here. Check back in February!