I remember hearing about the triple threat when I was youngster learning basketball. For those unfamiliar with the term, it’s simply a position you should be in when you have the ball. You should be in an athletic position that lets you shoot, pass or dribble. Ideally, you want to read the defense and keep them […]
MRAA Blog
6 Benefits of an F&I Department
• The Critical Role of F&I Departments in Marine Dealerships: Enhancing Profitability and Customer Satisfaction By Brenda Cline-Kereakes, COO, Line\5 In the marine industry, delivering an exceptional customer experience is just as crucial as selling boats. Yet, many dealerships overlook one of the most powerful tools for ensuring customer satisfaction, financial stability and long-term profitability […]
Successful F&I Operations, Whether In-House or Outsourced
By Robert Grant, Associate Director of OEM Business Development, Lightspeed In the marine industry, dealerships are like the old Transformers cartoons — “there’s more than meets the eye” when it comes to running them. While selling boats is a foundational piece of the puzzle, having successful F&I operations is a key piece to the overall […]
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, […]
5 Fraud Prevention Tools for Your Dealership
By Julie Douglas, President, Dealer Pay Your dealership is a prime target for fraud because you process high-ticket transactions and maintain sensitive customer data. Fortunately, advancements in technology have provided a wealth of tools to combat fraudulent activities. Here are 5 fraud prevention tools that can help protect your dealership and your customers. Enhance Your […]
Lender Mix is Key to Your F&I Success
By Jared Zimlin, Director of Business Development, Elite Recreational Finance, an MRAA Education Champion You’ve likely faced some tough challenges in F&I that directly dampen your sales potential. These hurdles, from limited lender options and higher interest rates to tightening guidelines and aged inventory being devalued, are difficult to navigate alone. Let’s take a closer […]
9 Strategies for Enhancing Employee Satisfaction
Data can be a great resource to have in your business toolbelt. However, having data and ACTING on it are two different things. If you fail to do so, you’re just collecting numbers and that won’t help you get to where you want to be. You’ll find data everywhere in your dealership. Even your employee […]
The Importance of Boat Demos for Safe & Enjoyable Boating
Boat demos help customers gain confidence in their new vessel. Learn why skipping the demo could mean missing out on improved customer satisfaction.
Regulatory Notice – Corporate Transparency Act Update
In the long saga that is the reporting requirements put forth under the Corporate Transparency Act (CTA) we have yet another update. On Feb. 27, The Financial Crimes Enforcement Network (FinCEN) announced that it would not issue fines or penalties for any business that does not file Beneficial Ownership Information with the FinCEN until a […]
Protect Consumer Information with a Digital Deal Jacket
• Advanced tools help your dealership reduce leaks and safeguard vital data By Ken Hill, Managing Director, 700Credit, an MRAA Platinum Partner In today’s digital age, dealerships have embraced many technological advancements to streamline operations and enhance customer experiences. Among these, the digitalization of Deal Jackets — the comprehensive records that encapsulate every aspect of […]
