Issue link: https://read.dmtmag.com/i/164037
s he he his uy e is we est hat ate ed ed. ngon- SB edia is e F&I FOCUS PSB m www.PowersportsBusiness.com Powersports Business • September 9, 2013 • 21 Indian offers Assurance Program for new buyers BY LIZ KEENER MANAGING EDITOR Within weeks of unveiling its 2014 lineup, Indian Motorcycle announced its Assurance Program aimed at giving riders a flawless experience with their new Indians. The program, backed by parent company Polaris Industries and included with the purchase of a 2014 Indian Chief Classic, Chief Vintage or Chieftain, includes: 5 years of coverage — Each new Indian includes five years of coverage, with a one-year limited warranty and an extended service contract. Coverage is subject to a $50 deductible with no mileage limitation. Fly & Ride — To make buying a new Indian a memorable experience, the OEM is offering a Fly & Ride program, which allows buyers to fly into an Indian Motorcycle dealership on any commercial airline, ride their new bike home and receive a $250 credit on their Indian Chief purchase. Trade-in confidence — Two years after a new motorcycle purchase, Indian guarantees a trade-in value of 70 percent of original MSRP or , 60 percent after three years. Competitive financing — Dealers are offering rates of 3.99 percent for 36 months or 6.99 percent for 72 months through the end of the year. Roadside assistance — New Indians purchased through the end of 2013 come with a full year of roadside assistance, which includes emergency transport up to 100 miles at no cost, pick up and delivery of the bike (charges apply), fluids delivery and jumpstarting services. Indian owners are also treated to a 24-hour, seven days a week Concierge Hotline. "The Indian Motorcycle Assurance Program sets a new benchmark in the motorcycle industry for warranty coverage, service and support," said Steve Menneto, Polaris vice president of motorcycles. "We're bringing choice to American motorcycling with three exceptional machines, and that choice is backed by a premium level SCHEDULED SPEAKERS Oct. 16-20, 2013 Orlando, Florida DEALERS — REGISTER FOR AIMEXPO FREE TODAY AT WWW.AIMEXPOUSA.COM Amanda Blackstone Heather Blessington Jason Breckenridge Duncan Butler (REGISTRATION FEE BECOMES $35 AFTER SEPT. 27) SERVICE & OPERATIONS POWERING PROFITS Succession Planning: A panel discussion on strategies for now and later Brad Stanek, Morgan Stanley Smith Barney OEM roundtable and Q&A, featuring executives from participating manufacturers Moderated by Dave McMahon, Powersports Business Technician efficiency and service profitability Amanda Blackstone and Duncan Butler, The Butler Group F&I Compliance: Real-life requirements to make F&I profitable Peter Jones, Peter Jones Powersports Protecting Your Dealership: A 25-point inspection to avoid company and employee fraud Paula Crosbie, ADP Lightspeed Winning showroom design and merchandising strategies Jim Rasmus, Retail Design Associates Service Systems: Improve your CSI by selling value on the greeting and 360-degree walkaround James Bulecza, Service Manager, Lexington Motorsports Industry roundtable and Q&A, featuring experts on every segment of dealership revenue streams Moderated by Robin Hartfiel Craig Cervenka Paula Crosbie ve Keep Your Eye on the Prize: How to prepare for ownership transitions. Laura Lemco, Motorcycle Industry Consulting Services, LLC Protecting Your Dealership: A 25-point inspection to avoid company and employee fraud Paula Crosbie, ADP Lightspeed ncan Defending Your Profits: "Threat" management for today's powersports retailer Gart Sutton, Gart Sutton and Associates edia Why Are Your Lenders So Nitpicky? Minimizing transaction risk to maximize relationships. Pamela Perdue, Continuity Creating a Scooter Community for Your Dealership: Rules of engagement Josh Rogers, Scoot! TRACK SPONSORED BY Bob McCann Neil Pascale F&I Compliance: Real-life requirements to make F&I profitable Peter Jones, Peter Jones Powersports Keep Your Eye on the Prize: How to prepare for ownership transitions Laura Lemco, Motorcycle Industry Consulting Services, LLC Laura Lemco Alternatives to Discounting: How to get money back into your dealership Hal Ethington, ADP Lightspeed in th a rtfiel Robert Klein Tom Orlando 5 methods to increase F&I turns Paula Crosbie, ADP Lightspeed and Robert Klein, RPMOne Peter Jones Creating a Scooter Community for Your Dealership: Rules of engagement Josh Rogers, Scoot! Inventory Controls: Parts, bins and obsolescence Amanda Blackstone and Duncan Butler, The Butler Group Hal Ethington Steve Jones noise Sam Dantzler Robin Hartfiel Making It Happen in Your Service Department: It's all about productivity Steve Jones, Gart Sutton & Associates TRACK SPONSORED BY Pamela Perdue Jim Rasmus Josh Rogers Samantha Scott Brad Stanek P10x21-PSB11-Focus.indd 21 of service and support that makes buying and owning a 2014 Indian Chief a truly enjoyable and effortless experience." PSB OUTSOURCING F&I CONTINUED FROM PAGE 10 recording and properly storing confidential financial information. Orange County Convention Center Brought to you by Indian's 2014 Chieftain is among the three new models eligible for the OEM's Indian Motorcycle Assurance Program. Gart Sutton TURNKEY PROFITS As the owner of a firm that provides F&I to the auto, marine, RV and powersports markets primarily in the Upper Midwest, Charlie McConkey has plenty of experience making the case for the services provided by his firm, Web Finance Direct, out of La Crosse, Wis. Beyond consumer financing, Web Finance Direct provides and services extended warranty and GAP coverage, as well as handling all paperwork, contracts and titles for its customers. A typical $20,000 sale — think of a sideby-side with a healthy dose of accessories — can often bring in more than $1,200 in profit through the financing reserve and any warranty coverage added to the sale. Split between Web and the dealer, that's a $600-plus jump in incremental income with no additional staff or dealer costs. "We work on a split on the back end with the dealership, so they get all of our resources; we handle all the logs, all the cancellations; we handle all the claims on any warranties on products sold, so we're really turnkey for them," he said. While many similar firms avoid the powersports market for its smaller margins and, in general, shakier credit than higher-dollar markets like RV or marine, McConkey said the increasing price of off-road vehicles is changing the powersports market. "If you look at used cars, there are probably a lot of dealers out there … [where] the average car sells for $5,000," he said. "You look at the powersports industry now and … you buy a Polaris RZR for $14,000, good snowmobiles are 10, 11, 12 grand — the actual financed amount on a lot of that stuff is higher than older used cars." Aside from the basic services, Web works to establish local lenders throughout its territories, as they often can be more forgiving of past financial troubles in an effort to court future mortgage or auto loan business, for example. "They're more aggressive because they want to get that deal and gain a customer," McConkey said. "That's something unique about us — I try to build on those local relationships." Given the choice between offering no F&I or outsourcing with a firm like his, McConkey said the debate often gets no farther than asking dealers if they want to keep their customers captive and make more money at the same time. PSB 8/28/13 10:50 AM