Dealers such as Adam Smith Texas Harley-Davidson are seeking monthly reports and portfolio performance data from lender partners to help improve the F&I process.
“The additional training that is most helpful for us is when a lender gives us a better understanding of what types of loans they are looking for and how to best structure the loan for their bank,” said Neil Noble, business partner alongside owner Adam Smith at Calculated Risk Motorcycle Group. “[Structures] including which types of motorcycle, down payment, etc. that best fits their model.”
The dealer group interacts with its representative from Harley-Davidson Financial Services multiple times per week, as well as receives monthly reports and detailed data, Noble told Powersports Finance. “It is also very helpful when we get regular reporting and check-ins from each lender,” he added.
Dealers need more insight into how their loans and leases are performing, Emre Ucer, managing partner at MotoLease LLC, seconded.
“It can be challenging for the dealers to understand the importance of this [lender-dealer] balance without visibility into their portfolio performance,” he said. “We try to get better at sharing some aggregate statistical data on dealer level so that there are no privacy concerns with personal information.”
Noble will speak on the Industry Roundtable called “Improving Lender-Dealer Relationships” at the upcoming PowerSports Finance 2017 conference. During the session, Noble and his fellow panelists will discuss tips for a successful lender-dealer relationship.
Joining Noble on the panel are Ben Donnarumma, managing director at American Cycle Finance; Ozzie Giglio, chief executive and dealer principal at Windy City Motorcycles; and David Goff, associate vice president of marketing at Westlake Financial Services.Like This Article