Early Promotion of Finance Options Boosts Sales, UTV Dealer Study Says

Promoting financing options during — rather than at the end of — the sales process is a vital way for powersports dealers to boost sales, according to a newly released UTV dealer study.

The survey, conducted by Pied Piper Management Co., ranks UTV manufacturer performance based on 66 criteria. After creating a measurement system through research and interviews, Pied Piper sent in mystery shoppers to get a candid view of the sales process. Of the OEMs included, Can-Am measured the highest in the financing category, as well as No. 1 in the study overall.

In the past, financing was less of a focus for powersports dealers, but now it’s become a growing part of the business, said Fran O’Hagan, president and chief executive of Pied
Piper, a company that runs measurement programs to increase retail sales.

“When 10 people walk through the door of a dealership, eight of them walk back out again without buying,” O’Hagan told Powersports Finance. “So, 80% of them don’t buy on the spot. This just means that if the salespeople pay no attention to financing and say to themselves, ‘Hey, that’ll come up when I introduce F&I,’ that means that 80% of the customers hear nothing about
the financing available.”

Pied Piper advises dealership sales teams to “put a stake in the ground” when it comes to financing, O’Hagan added. Working current financing options into sales conversations could prevent customers from choosing alternate franchise dealerships.

Monterey, Calif.-based Pied Piper works with OEMs such as Honda, Polaris, Yamaha, and Kawasaki, and conducts studies in the powersports and automotive sectors.

As Associate Editor of Powersports Finance, Matt Wood reports on the latest developments and trends of the powersports finance world, from innovation to new partnerships. He's also a movie/TV show buff and is willing to argue about Lost anytime. Former bylines include Scout Media and CinemaBlend.

Sign up for our Email list

Sign Up