Issue link: https://read.dmtmag.com/i/575161
www.PowersportsBusiness.com FINANCIAL Powersports Business • October 5, 2015 • 15 mean that they should not protect it. They are still spending thousands of dollars. If it were stolen, they would most likely want it replaced. If someone crashed into it and caused thousands of dollars in damage, they would want it fixed. Offering in-house financing on a service contract is not out of the question. In most cases, the fact that a service con- tract can be bought on a vehicle as long as the manufacturer's coverage is still in place makes it harder to sell. In this case, it can actually make it easier. There is no risk to taking payments on the sale of a service contract for a customer. You can give the customer three months, six months, even nine months to pay off the amount they owe on the warranty. As long as it is paid in full before the manufacturer's coverage is over, you can buy the coverage for the cus- tomer as soon as the payments are made in full. FINAL THOUGHTS "I'd rather have half a piece of pie than no pie at all" is more than the name of this article. It is the way you should think about everything you do in the finance office. There are many situations where you can stand strong and let the customer leave without buying a product, or you can take one last swing at getting some- thing rather than nothing. I asked myself after every deal, "Could I have gotten even a half a piece of pie more?" PSB Steve Dodds II is a trainer and consultant at Garage Composites with a focus on sales and finance departments. Contact him at steve@garagecomposites.com. POWERSPORTS BUSINESS STOCKS Stock Price Price Percent 52-Week Company Ticker 9/11/15 8/14/15 Change High Low Arctic Cat, Inc. ACAT $24.14 $30.00 -19.5% $39.72 $23.45 ARI Network Services, Inc. ARIS $3.77 $3.32 13.6% $4.80 $2.41 Assurant, Inc. AIZ $76.82 $79.60 -3.5% $80.08 $59.73 Brunswick Corp. BC $48.19 $54.11 -10.9% $56.63 $38.17 CDK Global CDK $51.57 $50.99 1.1% $57.89 $25.00 General Electric Co. GE $24.95 $26.08 -4.3% $28.68 $19.37 Harley-Davidson, Inc. HOG $54.78 $59.23 -7.5% $70.41 $50.64 Honda Motor Corp. ADR HMC $30.74 $34.08 -9.8% $36.44 $28.61 Polaris Industries, Inc. PII $127.86 $137.97 -7.3% $159.33 $119.96 TCF Financial Corporation TCB $15.41 $16.52 -6.7% $17.29 $13.78 Stock Price Price Percent 52-Week Company Ticker 9/11/15 8/14/15 Change High Low ArvinMeritor ARM $12.43 $13.95 -10.9% - - Bridgestone Corp. ADR BRDCY $17.11 $17.94 -4.6% $21.61 $15.60 Carlisle Companies CSL $99.12 $103.39 -4.1% $104.99 $74.69 Cooper Tire & Rubber CTB $39.68 $39.32 0.9% $43.94 $27.24 Dover Corporation DOV $60.56 $63.95 -5.3% $87.06 $55.50 Intl. Speedway Corp. Cl. A ISCA $32.44 $33.29 -2.6% $38.27 $28.09 Deere & Company DE $79.25 $94.34 -16.0% $98.23 $76.76 MarineMax, Inc. HZO $15.19 $17.16 -11.5% $28.69 $14.48 Spy Inc. XSPY $0.43 $0.40 6.2% $1.09 $0.20 Speedway Motorsports, Inc. TRK $19.11 $20.22 -5.5% $25.66 $16.45 Universal Technical Institute UTI $4.23 $4.88 -13.3% $11.97 $3.98 POWERSPORTS BUSINESS INDEX COMPONENTS INTERNATIONAL STOCKS OF INTEREST Source: Wells Fargo Securities LLC Stock Price Price Percent 52-Week Company Ticker 9/11/15 8/14/15 Change High Low BMW AG BMW-ETR 85.53 € 86.15 € -0.7% 123.75 € 74.59 € BRP, Inc. DOO-TSE $26.60 $28.73 -7.4% $29.80 $21.02 Kawasaki Heavy Industries 7012-TKS 450 ¥ 524 ¥ -14.1% 647 ¥ 393 ¥ KTM Powersports AG KTM-WBO 112.00 € 112.00 € 0.0% 141.00 € 97.01 € Michelin ML-PAR 83.09 € 90.33 € -8.0% 103.90 € 65.10 € NGK Sparkplug 5334-TKS 2851 ¥ 3370 ¥ -15.4% 3900 ¥ 2673 ¥ Suzuki Motor 7269-TKS 3787 ¥ 4450 ¥ -14.9% 4781 ¥ 3012 ¥ Yamaha Motor 7272-TKS 2334 ¥ 2562 ¥ -8.9% 3245 ¥ 1803 ¥ Yokohama Rubber 5101-TKS 2140 ¥ 2533 ¥ -15.5% 2904 ¥ 1730 ¥ DOMESTIC STOCKS OF INTEREST FOREIGN CURRENCY EXCHANGE 9/11/15 1 Month Ago 6 Months Ago Year Ago Annual Price Price %Change Price %Change Price %Change High Low Australian Dollar 1.42 1.37 -3.2% 1.32 -6.9% 1.10 -22.5% 1.10 1.44 British Pound 0.65 0.64 -1.1% 0.67 3.1% 0.62 -5.1% 0.61 0.68 Canadian Dollar 1.33 1.31 -1.3% 1.28 -4.1% 1.10 -17.2% 1.09 1.33 Euro 0.89 0.91 2.2% 0.95 6.7% 0.77 -12.8% 0.77 0.95 Indian Rupee 66.57 64.25 -3.5% 62.81 -5.6% 60.86 -8.6% 60.72 66.68 Indonesian Rupiah 14,332 13,600 -5.1% 13,190 -8.0% 11,825 -17.5% 11,820 14,332 Japanese Yen 120.59 124.85 3.5% 121.50 0.7% 106.82 -11.4% 106.10 125.64 Malaysian Ringget 4.32 3.96 -8.2% 3.70 -14.4% 3.19 -26.0% 3.19 4.34 Phillipine Peso 46.89 45.93 -2.0% 44.34 -5.4% 43.86 -6.5% 43.86 46.93 Singapore Dollar 1.42 1.40 -0.8% 1.39 -2.0% 1.26 -10.8% 1.26 1.42 South Korean Won 1,184.60 1,178.95 -0.5% 1,126.50 -4.9% 1,036.05 -12.5% 1,034.95 1,201.00 Taiwan Dollar 32.53 31.89 -2.0% 31.65 -2.7% 29.99 -7.8% 29.99 32.87 Thailand Bhat 36.11 35.36 -2.1% 32.92 -8.8% 32.19 -10.9% 32.19 36.16 Note: A positive percent change reflects a weakening of the U.S. dollar and a strengthening of the foreign currency. Source: Wells Fargo Securities LLC DODDS CONTINUED FROM PAGE 14