F&I Product Financing for Dealerships

February 8, 2021

F&I Product Financing for Dealerships

F&I Product Financing for Dealerships The finance and insurance (F&I) department at an automotive dealership markets loans and add-on options. These plans help customers gain warranties, auto service, asset protection and additional benefits for their newly purchased vehicle. With these service contracts, customers can add value to their assets, and the dealership can help customers create an advantageous financial package. At Line 5, we understand that you want to keep your F&I department as profitable as possible. We partner with automotive dealerships to finance their F&I products without requiring a loan limit or down payment. When you become a Line 5 partner, we will help you get every product, every customer, every time to maximize your revenue. F&I Products Line 5 Finances Offering a vast range of F&I products to your customers helps your dealership gain the most profit and improve your customers' experience. Line 5 finances several valuable F&I services that cover what your buyers want, making them popular options that will become profitable for your dealership. We finance: • Tire and wheel protection: As tires and wheels represent some of the most frequently damaged car parts, an F&I product that covers them is beneficial for customers. • Lifetime engine warranties: This service ensures that the vehicle's engine will last the length of the customer's ownership as long as they follow the recommended maintenance schedules. The lifetime engine warranty is appealing to customers and boosts service retention. • Dealer-owned prepaid maintenance: With this service, customers will return to your dealership when their vehicle needs maintenance. Since they'll be in your dealership regularly, they'll be more likely to purchase from you in the future. This F&I product increases your sales and customer loyalty and retention. • Service contracts: Service contracts are a staple of any automotive dealership's portfolio, and Line 5 will help finance them. The original equipment manufacturer (OEM) for the vehicles in your lot may offer a service package to customers. However, a service contract with your dealership can be better for customers because it offers a flexible or no deductible and better coverage for less. This F&I service is especially profitable when reinsured on the back end. • Key replacement: Since many keys in modern cars have anti-theft features and other technologies, it can be expensive for the customer to replace those that get lost. This F&I service covers the costs of purchasing the replacement, reprogramming it to the auto security system and providing roadside assistance if keys are locked in the vehicle. • Lease damage waivers: Insurance can become tricky if your customer damages a leased vehicle. When customers opt for this F&I product, Line 5 will cover the damage — even if it costs thousands of dollars — with no deductible for the customer. • Anti-theft coverage: Anti-theft protection pays more than standard insurance settlements by up to tens of thousands of dollars if the customer's car is a theft or total loss. Many dealerships merge some of these F&I services to create supplementary product bundles, which involves grouping relevant products to help customers get the services they want for less. Bundling makes the customer more likely to buy, so it increases your sales. Line 5 also extends our financing services to these bundles since they are valuable for your business's profits. Line 5's F&I Financing for Automotive Dealerships Line 5 is an F&I product financing company that partners with automotive dealers for sport utility vehicles (SUVs), trucks and automobiles to provide plans such as the following: • Extended warranty financing • Vehicle service contract financing • Maintenance plans • Theft protection • Road hazard • Roadside assistance Line 5 finances all plans and instantly guarantees approval, making it easier for you to sell these plans to customers. You can adjust the term's length and the interest rates for each loan, and we do not require a down payment. This flexibility helps you tailor the loan specifications to each customer, making it easier to close deals. As a result, your customers will get the coverage they require for a manageable payment. Once they have completed and signed the application submission, Line 5 will make funding available within 48 hours. With Line 5, your automotive dealership will sell more products and drive more revenue from your commission for each plan sold. Why Work With Line 5? Line 5 is dedicated to helping dealerships sell more products and make more money by providing the necessary funding for F&I services. We will analyze your dealership's business model, goals, values and processes. As a result of our tailored approach, your F&I department will become more profitable and successful than ever before. When you choose to partner with Line 5, we'll provide the financing needed for your top F&I products. You can offer F&I services to your customers with confidence in our finance plans because we approve all customers regardless of their credit rating. Line 5 does not require loan limits or down payments, and you can adjust the loan terms to fit each customer's budget-friendly rate preferences. Line 5 also offers F&I dealership software that provides a dealership dashboard to manage your deals and customers. Streamline and simplify your processes such as report and contract generation and signature collection, so you have more time for other important tasks. Contact Line 5 to Become a Partner Today Expand your F&I services capabilities with Line 5. We will help you gain more customers — and more revenue — through our flexible financing plans. Sign up on our website to become a Line 5 partner today. You may also call us at 844-775-4635 or contact us online for more information.

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