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In This Issue

4 Steps to F&I Success

Funded Customer Survey Results

 

Upcoming Events 

 

Come visit us at the following shows:

 

RVDA Go to Grow

 We will be at booth #447 at the 2010 RV Dealer International Convention/Expo in Las Vegas this

 October 4-7th.

 

 

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For our boat dealers, see us at the 2010 Marine Dealer Convention & Expo. in Orlando this Nov. 15 - 17th.  Booth number has not yet been assigned.

  

 

 

Priority One Participated in Walk Now for Autism Speaks

Team Sebastian

 

On May 1, 2010, Priority One formed a team for Walk Now for Autism Speaks.  Out of 100 teams, Priority One's team ranked number eleven out of 100 teams in money raised.

 

  Priority One's extended family was directly affected when one of our own was diagnosed with autism last year.  

 

Autism is a disorder of neural development characterized by impaired social interaction and communication, and by restricted and repetitive behavior.  The Centers for Disease Control and Prevention (CDC) report that one in 110 children has Autism Spectrum Disorder (ASD).

 

  For more information, go to http://www.autismspeaks.org/.

 

 

Priority One

 New Team Member

  

Lee Arvid

Arvid Lee

 Business Manager

 

Arvid, who is known as Lee, has extensive F&I and sales experience in the mortgage, auto and RV industry.  He is JM&A certified and has experience utilizing menu selling to ensure maximum profitability and compliance.  Born in Taiwan, raised in Maryland and a graduate of the University of Houston, Texas, Lee now calls Florida his home.  In his free time, Lee enjoys fishing.

 

 

 

Lisa Lynn Gilbert Celebrates 10 Years with Priority One

 

Bill

Lisa Lynn Gilbert

Business Administrator 

 

Lisa Lynn celebrates her ten year anniversary with Priority One on August 7th.  She has seen the company more than double in size since her first day and has worked in a variety of departments within the company.  Currently she is a business administrator.  She is a great asset to the company, her dealers and their customers.  Kudos to Lisa Lynn!  Here's to another ten years.

 

 

Congratulations Bill!

  

Bill

Bill Bechtol 

 Business Manager

 

Bill Bechtol is newly engaged.  Bill and his sweetie took a quick trip to New York where he proposed in Central Park.  We are so happy for Bill and Janine, who plan on marrying next year.

 

 

F&I Insider

 

July 2010

 

 

4 Steps to F&I

 Show Season Success     

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It's the middle of summer but soon fall trade shows will be upon us, and now is the time to start planning and budgeting.  In addition to ordering booth furniture, carpeting, electricity, cleaning services, promoting your products and making travel plans, don't forget to strategize with Priority One on how you're going to increase your F&I profits before, during and after the show.

 

Step 1 - Plan Ahead

Before the show, if you haven't already, be sure to inform your Priority One business manager of your show schedule.  Some lenders will offer "No Money Down" or "Deferred Payment" programs during the fall shows.  You can promote these finance incentives with signs, banners or transom tags at your booth.

 

Step 2 -  Assume Financing is Needed

70% of all customers need financing. 

After you have completed the sale, you should inform the customer that your dealership offers many competitive financing options, referring to your onsite F&I special signage.   If the customer says he is paying cash for his purchase, ask him if a lien will need to be placed on the unit.  Many times people say they are paying cash but really it means they've received a pre-approval from their lender.  This isn't an end-all, and you can still offer to run some numbers with your lending sources.  If the customer can really pay cash, have your Priority One business manager offer products to protect his purchase and generate additional F&I profits on the sale.

 

 

Step 3 - Deposit to Delivery

Once the customer has agreed to the sale, your best bet is to lock the customer in by asking him to fill out a credit application with your dealership and leave a deposit for the unit.  Obtaining a credit application and deposit enhances customer commitment and reduces the risk that your customer will be lured away by another dealer at the show.  Once you have a committed customer, get them out of the show.  Send them down the street to shop for accessories or buy lunch.  Getting a deposit and getting them out of the show is key.

 

Step 4 - Post Show  

After the show, be sure to follow-up with the customer to thank him and schedule delivery.  Also, ask your customer for others he may know that are interested in purchasing from your dealership.  In the near future, send a follow-up survey to find out how you did and what can be improved. 

 

Good luck!

 

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Funded Customer

 Survey Results 

 

Percentage ImageBetween May 15, 2010 and June 15, 2010 we surveyed customers that financed through Priority One  and here are the results:  

 

  • 94% of the customers that responded to the survey felt their Priority One team was  knowledgeable.
  • 90% of the customers that responded to the survey felt their Priority One team was excellent or very courteous and responsive.
  • 83% of customers that responded to the survey would recommend Priority One's services to a friend or family member also purchasing from your dealership.

 

Here are some comments we received:  

  • "The dealership provided a strong recommendation (for Priority One).  I'm pleased you have a partnership."
  • "Priority One's business manager was excellent.  She was so polite and easy to deal with."
  • "Our business manager was courteous and returned my calls up to the point when the deal was complete."
  • "I think you all made everything smooth, easy and very satisfying for us.  We appreciate it thanks."

 

 

Priority One Financial Services

742 Second Avenue South

St. Petersburg, Florida  33701

800-747-6223

www.p1fs.com

Selling is your priority, financing is ours.