Fueling Profit & Trust: The Power of a Strong Marine F&I Department

The Challenge: Navigating the Marine F&I Landscape

Marine dealers today face increasing challenges in Finance & Insurance (F&I), from stricter lending laws and regulations to customers hesitant about financing options. According to a recent survey by the Marine Retailers Association of the Americas (MRAA), 39% of dealers reported lacking a dedicated F&I Manager or Department, leading to missed revenue and lower customer confidence. The Solution: Establishing a Strong Marine F&I Department.
A well-structured F&I department isn’t just about processing loans — it’s a key driver of dealership success.

Here’s why:

  • Boosting Profitability – Marine dealers with a strong F&I Department and processes see an average of more than $1,100 in gross profit per unit through financing and protection products with little or no addition to overhead or inventory management.
  • Enhancing Customer Confidence – With about 60% of boat buyers financing their purchase, a knowledgeable F&I team helps them navigate options, creating a smoother transaction.
  • Increasing Protection Product Sales – Top-performing marine dealers achieve over 50% penetration rates on service contracts, like extended warranty and GAP insurance.
  • Streamlining the Sales Process – Sales teams can focus on selling while the F&I team ensures seamless financing, reducing delays and increasing efficiency.
  • Reducing Risk & Compliance Issues – F&I professionals help dealers stay compliant with regulations, protecting the business from potential legal pitfalls.
  • Leveraging OEM Captive Finance Partners – Partnering with an OEM-backed finance provider gives dealers access to competitive rates, exclusive programs, and seamless integration, helping customers get the best financing options available. OEM backed finance partners also work to help boost customer retention.
4 Actionable Steps for Marine Dealers
  1. Invest in F&I Training – Certification programs and in-house coaching help maximize F&I revenue.
  2. Leverage Digital F&I Tools – Online applications and pre-approvals streamline the process for customers.
  3. Offer Transparent Financing Options – Educating buyers on finance choices reduces hesitancy and increases deal closures.
  4. Partner with OEM Captive Finance Providers – Taking advantage of specialized marine financing ensures competitive rates and better customer satisfaction.

An effective F&I department isn’t a luxury — it’s a necessity for marine dealers looking to increase profitability and improve the customer experience. By prioritizing F&I expertise, leveraging captive finance partnerships and refining processes, dealers can drive higher approval rates, repeat purchases and stronger customer retention.

Fueling Profit & Trust: The Power of a Strong Marine F&I Department blog

About the Author
Yamaha Motor Finance Corporation, U.S.A., dba Yamaha Financial Services, is an affiliate of Yamaha Motor Corporation, U.S.A. offering financing solutions to support Yamaha Dealers and loyal Yamaha Customers nationwide.

Sources:

  1. MRAA, survey on in-house F&I challenges. Retrieved from MRAA internal source.
  2. Lightspeed DMS – “F&I Efficiency for Profits.” Retrieved from LightspeedDMS.com
  3. Priority One Financial Services – “Maximizing F&I Opportunities for Boat Dealers.” Retrieved from P1FS.com
  4. Industry Best Practices – General insights from marine finance professionals on approval rates, retention and profitability trends.

Yamaha is an MRAA Strategic Partner