It wasn’t long ago that no dealership had an F&I department; now it is among the most lucrative profit centers in most dealerships—franchise and independents. Still, when many “trail blazer” dealerships were adding this department, other dealers scoffed. Today, however, it would be hard to imagine any dealership anywhere not having an F&I department. The notion is ludicrous. A similar situation is on the horizon with the OKEzPay90Day Program. Just wait and see!
This, like any innovative program, will have leaders and followers, but eventually everyone will get to the same place; some will just be quicker (and far more profitably) than others. We call this: The Law of the Yukon, which states: Unless you’re the lead dog, the view never changes!
So, this article (at least in October 2010) is just for the “Lead Dogs”…those of you who set the pace in the industry. “OkEzPay90Day” (or a program similar that has not been invented yet) will be part of your everyday business within 24 months. You heard it here first.
This program provides approximately 93 percent of your customers with an easy payment plan (over 90 days…hence the name) for up to $5000 without a credit check. Sounds crazy, huh? Well it is not. As a result of legislation in 2005, it is now possible to convert multiple “post dated” checks to ACH, basically guaranteeing the funds.
Obviously this cannot be used for front end structure of “dip downs.” However, just think of the possibilities that exist in your service department. How many potential ROs do you lose some of all of every day, because the customer says they cannot afford all of the repairs all at once? How many times have you heard: “I’ll have to wait two or three months and I will be back when I can save enough money.”? This is the same “Be-Back Bus” your front-end customers are on…the one that never returns to the dealership.
With OkEzPay90Day you have a solution for this customer; you save the RO and even create an additional profit center in the dealership. As long as the customer does not have a history of writing bad checks, they will qualify. Again, this program has no credit check. National statistics indicate that only about 7 percent of the public are habitual bad check writers. These are the only people who will be refused this program.
This same program can be used in parts and accessories, your body shop (if you have one), F&I, and even in limited front end sales scenarios.
If you would like more information on this program, how it works, why it works, and what it requires to get started (which is not much), I will point you in the right direction. Just give me a call at 877-741-1886 or on my direct cell phone line: 206-715-3990.
My best guess is that most dealerships are letting $50,000 (or more…maybe way more) fall through the cracks every month and this is the higher margin revenue you are losing. OkEzPay90Day will help you save a bunch of this money. You have my guarantee on it!
Hey Lead Dogs—Let’s go!
For more information, contact Mike Conley at 877-741-1886, 206-715-3990, or via email at [email protected], and discuss real life applications in your dealership. Chances are that in 72 hours or less you’ll be saving lost revenue in your dealership
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