Dealers are seeking ways to make working in a powersports F&I office more appealing than a car dealership amid high turnover, said Forrest Flinn, managing partner at Powersports Management Concepts, and it all comes down less-busy weekend hours.
While many finance managers score a higher paycheck working in an auto dealership, there are ways to convince them to switch to a powersports dealership, Flinn told Powersports Finance.
“We have to sell them on a five-day work week,” he said. “In car stores, those guys work six or seven days a week. In powersports, we can offer two days off — usually Sunday and Monday — and they won’t work past 8 p.m., typically.
While most powersports lenders are open on the weekends, or at least have personnel on-hand to take dealer calls, there are still some banks and financial institutions that have limited weekend hours.
“Right now, we are open by appointment only on Sundays,” said John Hollywood, finance and business development center manager at Freedom EuroCycle Las Vegas. “We will be switching over to seven-days a week within the next three to six months … but realistically I wouldn’t expect anyone to come in and leave with a bank approval that I haven’t already talked to prior to that.”
“We are a seasonal industry based around motorcycling, and [many] dealerships are off on Sundays and Mondays,” Flinn said. “It’s not that the sales aren’t there, it’s just the way we structure the lifestyle.”