Increased powersports F&I product portfolio expected to double lease volume
EFG Companies, the innovator behind the award-winning Hyundai Assurance program, and MotoLease, LLC announced today an expanded partnership to offer unique customer leasing options through MotoLease authorized dealers. Since 2014, MotoLease has offered EFG’s private-labled Select Guard suite of F&I products. The company will now add EFG’s Guaranteed Asset Protection (GAP) to further protect customer investments and help dealers increase loyalty and profits.
“MotoLease has achieved a 51 percent year-over-year increase in lease contracts, and 49 percent penetration rate since it began offering Select Guard,” said Emre Ucer, Managing Parnter, MotoLase, LLC. “By expanding the popular program to include GAP, we expect our numbers to double this year.”
EFG’s Select Guard product for MotoLease includes complimentary limited coverage, including six months of vehicle return protection and 12 months of roadside assistance, with the option to upgrade. MotoLease partnered with EFG Companies’ Powersports Division in 2014 to enhance their lease offering with a goal of aggressively increasing market share. EFG private-labeled their vehicle return product, the award-winning program behind Hyundai Assurance, along with their vehicle service contract and roadside assistance under the Select Guard brand.
The addition of GAP to the Select Guard program provides customers a more well-rounded approach to protecting their finances, along with their investment should an unforeseen circumstance occur, like theft or total-loss.
“This expanded offering from MotoLease will enable dealerships to increase profit and customer loyalty by driving consumer purchase confidence,” said Glenice Wilder, Vice President, EFG Powersports. “As a luminary in the powersports space, MotoLease has been a valuable partner in recognizing and driving powersport dealership revenue based on evolving motorcycle demand.”