f & i stats
March 2014 Finance
18%
Payment protection
29% 12% 38% New Used
GAP
13% 23% 11%
Insurance
S
elling extra Selling insurance insurances with a also provides an insight vehicle can create into how the buyer is more profit, and is a going to finance the great way to increase car’s purchase because customer satisfaction all insurers need to and retention. know if there’s going You normally have to be a security, or more knowledge than finance, on it. Ray Meharg customers and the Once you are National sales manager ability to provide them aware of this, it gives with better products you the knowledge than they’re used to. and a fantastic opportunity to Selling these insurances isn’t sell your finance option. as difficult as it seems because Remember that as a motor consumers often need or are vehicle dealer, you are the required to purchase them anyway. specialist when it comes to selling, The question is whether they will financing and insuring vehicles. buy from you or somewhere else. Erin Mills, who manages dealer Perhaps the bigger question is development at Protecta, spends a will you offer it? If you don’t, the lot of time providing free training buyer will arrange it elsewhere, to customers. which gives that provider a chance Her experience and Protecta’s to steal your finance sale and systems make a combination that’s possibly the vehicle transaction. increasing dealers’ profitability. Customers prefer a specialist Motor vehicle insurance is a key one-stop shop and that’s you. So component of training provided to how do you sell these insurances traders so they have the knowledge successfully? and skills to sell this product, which The answer is with quality can also be invaluable for customer training. This gives you the retention and satisfaction. confidence and the skills required, Many dealers are catching on and it’s also free. and Protecta’s Insurance sales are Comprehensive motor vehicle booming. insurance is usually either wanted With competitive pricing, unique by the customer or required by benefits and a fast and easy online the financier to protect its asset. sales system, it’s providing the This provides a good catalyst to increased trader profits. opportunity to present your SALES PROMOTION products to customers. They want To continue this trend and build or need it, so this should give you on this success, Protecta has a the time to present them – and be sales incentive promotion in May enthusiastic because it works. and June 2014, which rewards Protecta’s motor vehicle insurance has the unique benefit of each insurance sale with a voucher chosen by the dealer. an accident management service. There’s no minimum and no This includes 24/7 nationwide maximum that can be earned so service, free pick-up and delivery everyone can participate. of the customer’s vehicle from For advice, more information home or work, free late-model about training or the promotion, courtesy car, prioritised repairs please contact your local to minimise off-road time, Protecta sales consultant or unconditional workmanship contact me directly. guarantee and a free valet.
PROTECTA Nationwide F & I results
Best result $ 1,197 Worst result $ 3 50
16%
MBI
Insurance key to extra profits
52% 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
We’re raising the bar... Specialist training is helping our motor dealers to achieve longer term sales targets. Find out more today. contact: erin Mills from Protecta insurance Phone: 021 807 148 email: erin.mills@protecta.co.nz
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