I am excited about what is really going on.
As COVID-19 rushed in during March/April, it looked like this year could be a catastrophe. It certainly, from our perspective, has not turned out that way.
As folks became concerned about traveling and taking those big family vacations they redirected those vacation dollars. They decided to direct those dollars to environments they could control while still having fun with the family. They decided to buy boats and RV's. They invested in fun that they could control.
Instead of facing a falling market based on the economic conditions, marine and RV dealers are facing an overwhelming demand that is causing concern about not enough inventory versus the initial fear of not be able to sell their inventory. Talk about a champagne problem…we are now in a classic case.
We are excited about being a small part of the solution to this problem by keeping dealer's customers able to buy their lifestyle experience.
I am excited to deliver the best F&I and Protective Product profit in the industry.
With all these customers and all these sales, and all the issues that the lenders are having (being surprised by and unprepared for this surge in demand), Dealer Profit Services has been able (not without some hiccups) to deliver remarkable F&I and Protective Product results for all of our dealers. We continue to deliver about 8% F&I Profit on Amount Financed and about 3.25 to 3.75% F&I Profit on Unit Sales. This is exciting!
(This is all happening while Dealer Profit Services offers the lowest cost for these services, not just in the industry, but also in-house. Dealer Profit Services charges only a 20% split. This is lower than anyone in the industry and lower than any in-house F&I, while delivering the best results anywhere. Interestingly, we did see a physical mail piece this week promoting the great split of 70/30 – we chuckled.)
Inventory continues to roll. Dealers continue to sell. Profit continues to flow. This is truly exciting. We are truly excited to deliver these results anytime – in these times these results are making significant positive impacts on dealer's bottom lines.
I am excited for what the rest of the year has in
store.
At least through Labor Day, we expect that, while sales will trend down as usual, they will be trending down from a much higher baseline. Sales will be far higher for the rest of this year than in any "normal" year. As sales, and so dealer profits stay hig, the F&I and Protective Product Sales will remain high – thanks to Dealer Profit Services.
This has turned out to be a very exciting year. While COVID-19 is a little terrifying, the impact on Marine and RV is pure exhilaration. 2020 will go down in history as a weird and wonderful year for Marine and RV dealers. We are excited to be your partner in this journey!
Dealer Profit Services, LLC can help you achieve F&I excellence - no matter where you are in the development and/or maturity of your store or stores F&I success model. As the industry's only Finance Solutions Provider, Dealer Profit Services can and will equip you with what you need to take that next step in your F&I success - regardless of what that next step might be. Whether you want someone to help you take over take over your F&I and with our experienced personnel just help you drive profit to your store, provide help to you some of the time, need some quick advice or just provide F&I Training/Consulting, we are here to help you. If you are not fully equipped with all of your Compliance Manuals and Training, Dealer Profit Services can do that too. Contact us anytime at info@dealerprofit.com or give us a call at (470) 326-0966.
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