Content provided by United States Warranty Corporation
We heard from dealer networks across the US and Canada that having a one stop shop, automating the F&I process with a cloud-based F&I management platform, is business critical. In addition, below are 4 FAQs related to extended service protection products that warrant consumer education.
- What are the pros and cons of exclusionary product solutions for new motorcycle, ATV and PWC owners? Pros: having an exclusionary plan covers all the latest technology on your vehicle, that falls under the category of mechanical, electrical and hydraulic components, this takes the guess work out if a component is covered or not. Con: an exclusionary product might not be right for the vehicle or customer budget. However, base or entry level plans allow options to be added if there is a specific component coverage required.
- Electrical vehicles on the rise? Love ‘em or Hate ‘em, your customers are asking for them. Of note are the Gen Z and the Millennial’s interest in extended warranty products. Previous generations learned to fix their vehicles. In the age of computerized diag., Amazon and YouTube, the younger generations are either learning on the fly or are just as happy to pay your dealership service center. Electric or gas, warranty components are still a coverage item. Actually, hundreds of components are covered under the “electronic” umbrella. Bringing this up during the sales process should be commonplace.
- Technological advancements came in next. By now, your service contract provider should be covering Seals & Gaskets, GPS, LED, and audio components that are factory/dealer installed. Buyers perk up when these components are covered.
- Due to economic factors, we are seeing an increase in company mergers and acquisitions. How do we know you will be around? In business for almost 50 years, we partner with other family- run organizations. When you are family -run, values like partnerships, communication and quality translate into your corporate culture. Being backed by an A- insurance carrier provides the confidence in our ability to be in it for the long haul for claims. For our dealer partners, this takes the shape of unique onboarding for sales and F&I teams, training & tips on how to position products, dedicated reps, rate consultations, custom marketing materials and a direct line to executive leadership.
We love educating our customers so please feel free to engage us with your Powersport extended service protection product questions? Send your questions to firstname.lastname@example.org.
See you in Vegas! AIMEXPO#5048