Category: F&I

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EFG Companies F&I

Open Up New Streams of Green

moneyAs gas prices continue to rise and consumers implement more wary buying practices, it’s clear that the transition seen in 2012 will only continue in 2013. Is your team prepared to sell new models ranging from horsepower-heavy models to groundbreaking fuel efficient models to the recession-hardened consumer?

The one thing all consumers are looking for is a way to save a buck! Whether they are looking for higher-end vehicles, or standard commuter cars, they all care about the impact on their wallets. And, with a fiscal cliff continuing to gain press coverage, they are still wary about the potential for job loss.

How can you overcome their reservations? With strategic F&I products that keep their savings intact when unexpected circumstances occur, such as:

  • Major mechanical breakdown
  • Involuntary unemployment
  • Paint & upholstery damage
  • Body panel damage
  • Tire & Wheel damage
  • Total Loss

These products not only benefit your dealership with increased revenue and upsell opportunities, they help your sales-force provide the final hook to close a sale. With pent-up demand, consumers are looking to buy. Give them a reason to buy from you by offering products that keep their finances secure.

With over 35 years in administrating consumer protection products, EFG Companies is committed to the continuous development of innovative products, services and go-to-market strategies that differentiate our clients from the herd. Find out how we can help you transition to a more profitable future.

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EFG Companies F&I

Show Your Customers Some Love

iStock_000018300149_MediumAccording to ISR economist, Richard Curtin, Director of the Thomson Reuters/University of Michigan Surveys of Consumers, American consumers have become much more optimistic about future economic prospects. In fact, they have become so optimistic that most economists think the economy is incapable of delivering the rapid pace of growth consumers expect.

What does this mean?

This means that while consumer spending is up for the moment with increases in consumer credit and personal disposable income, as the fiscal cliff looms, spending can be cut short dramatically. Even with personal income slowly rising, people are still searching for ways to save money. Coupon clipping became a necessity during the recession and consumers today pay much more attention to competing discounts.

The dealerships and financial institutions that survived the recession and are positioned to thrive today are the ones who took the position that cars can’t sell themselves. These dealers and financial institutions understand that gaining love and trust from their customers directly translates to increased revenue with fewer drop-offs in service and increased repeat vehicle loans.

For this reason, lenders and dealers alike are working to give customers more for their money and build stronger relationships with bundled F&I products. Bundling differentiates your dealership or lending institution among competitors by demonstrating that:

  1. you understand your customers’ needs and concerns; and,
  2. you are willing to build trust and loyalty.

In doing so, you generate the opportunity to gain greater income with upsell opportunities.

With over 35 years in consumer finance, EFG Companies, knows how to build profitable relationships with customers by giving them another way to save. EFG has developed several F&I products that can be bundled or sold separately. Two of the most successful products include Drive Forever Limited Lifetime Powertrain and WALKAWAY®, the program behind the award-winning Hyundai Assurance.

By saving their customers money and providing quality service with EFG, dealerships and financial institutions are primed to make their customers, customers for a lifetime.

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EFG Companies F&I

Auto Sales Rose 10% This Year. Want to Beat That?

According to a recent Bloomberg survey, auto sales are on pace to rise at least 10 percent for the third consecutive year. The U.S. sales rate exceeded the 14.5 million pace, which was the average estimate of 16 analysts in Bloomberg’s survey. This rate is the best industry sales pace since 14.95 million in March 2008, according to the Automotive News data center.

September highlights:

  • Chrysler sales rose 12 percent to 142,041 vehicles for its 30th straight gain
  • GM’s sales rose 1.5 percent
  • Toyota Motor Corp. led with the biggest gain, with sales surging 42 percent
  • Honda boosted sales by 31 percent

Does it sound like Americans are beginning to raise their heads and purchase the big-ticket items they’ve been holding off on? They might be. However, the pain and fear caused by the economic turmoil of the past few years translates to smarter purchasing decisions combined with wariness of job instability. For example, small cars with better gas mileage are on pace to capture the largest share of the U.S. auto market since 1993. Do you remember what was happening in 1993? Like today, we were on the tail end of a recession and on the precipice of new economic growth and 22 million new jobs.

So, what if you could empower consumers to take action – get over the hump and make a decision about a new vehicle purchase, while at the same time differentiate your dealership from the competition?

Now, you can with WALKAWAY® — the industry’s first and only debt cancellation vehicle return program. WALKAWAY® enhances customer satisfaction by empowering consumers to make their next vehicle purchase with confidence, knowing that if unforeseen life events occur, they are protected. This unique program also gives you a proactive way to manage risk by adopting a strategy that decreases repossessions and collection costs and strengthens margins and profitability by closing more sales and enhancing loan volumes.

Provided by EFG Companies, the innovators behind the renowned Hyundai Assurance program, WALKAWAY® has proven to help sell more cars, differentiate dealerships in a crowded market, save deals, and drive additional revenue with upgrade opportunities.

Contact EFG today for a complimentary analysis on how the program will impact your business.