Glenice Wilder
Vice President
EFG Companies
Clearly, we are in the midst of challenging times. Due to shelter-in-place orders, many in the U.S. are either working from home or furloughed, and thousands have lost their jobs. And for those who perform essential functions that we rely on, it is business as usual with a whopping dose of added stress. Whatever the situation, everyone is burdened in some way.
In the powersports industry, we’ve been through hard times before. Most recently, the Great Recession taught the industry a lot about running a financially sound business through both economic ups and downs. Since then, the industry has drastically changed with the progression of online retailing. As dealers ramp up online retailing efforts to stay engaged with consumers stuck at home, EFG has once again brought to market its traffic-driving, market differentiator – WALKAWAY Vehicle Return Protection.
WALKAWAY allows consumers the option to return their motorcycle in the event any of these unforeseen life events occur:
- Involuntary unemployment
- Physical disability
- Loss of driver’s license due to medical impairment
- Self-employment personal bankruptcy
- Accidental death
- International employment transfer
As a powersports dealer, WALKAWAY increases opportunities for profit in four ways:
- The program gives customers the motivation and confidence to purchase their next motorcycle, enabling dealers to sell more units.
- It increases dealer financing, as this product is only offered in conjunction with dealer financing.
- When a WALKAWAY benefit is authorized, the bike is returned to the selling dealership inventory for resell.
- Dealerships can supplement their revenue by selling one of four possible levels of upgrades that extend the coverage for the life of the loan and even provide payment relief.
More importantly, WALKAWAY gives powersports dealers an invaluable market intangible – customer trust. Providing this level of extremely relevant protection and support regarding their finances can directly impact your customers’ daily lives. WALKAWAY helps ensure they know that you have their financial health in mind, and you are the one they can trust so that when the economy turns back on, your dealership can capture market share faster than your competitors.
A winner of the Powersports Business Nifty 50 Award, the program gives dealers a significant point of differentiation while also driving online and retail location traffic.
Consumers who may not typically finance a motorcycle purchase during these challenging times might consider the option with a protection package such as WALKAWAY.
The economic impact of this pandemic will create new financial challenges for your customers. When the country receives the ‘all clear’, your customers will return to the dealership that has their financial well-being at heart. providing them with the assurance of WALKAWAY can be a significant differentiator, creating a sense of trust that is invaluable.
Now is the time to market to those consumers about the benefits of WALKAWAY to impact your sales immediately.
Call EFG today and ask about our upsell options.
214-675-6490
