Only Cool F&I Products/Services
F&I departments are the consistent and lucrative revenue generator for new car dealerships today. The industry also generates tremendous, high margin revenue for dealerships which is why fresh, new products are so important.
KCAMG has been part of this transition in several ways, including the following:
Electromagnetic Device – Canadian Based
While not a large part of what we do today, it is where we started years ago. Kevin Burke, Owner of KCAMG, became friends with a Canadian family through an existing client relationship. Kevin was asked why he didn’t start his own consulting company based on his relationships and verticals across the automotive industry. It was during the recession of 2009 and they wanted to introduce their F&I product to the states. A bit of a risky jump at the time, but we struck a deal in about 5 days and that was the start of KCAMG. While it is probably the hardest product we’ve ever had to sell, it required us to contact nearly every large F&I agency and warranty company in the US market. We traveled with agents, listened to the challenges they faced and learned much about “the box” and what really drives revenue. We ultimately helped this company gain access through select agencies, primarily in the rust belt from Wisconsin and up through New England. Things started moving when a large TPA took the product in under its own private label. Based in Ontario, this same company is international and sells hundreds of thousands of units today.
Refinance For Existing Loans
A Colorado based product was far ahead of its time and was initially tough for big groups to understand. The product empowers dealerships to take firm control of the customers’ financing relationship after they drive off the lot. Refi, banks, and credit unions are increasing the focus on existing customers and targeting is on the rise. This solution pays a commission back to the dealership on the new refi with other products financed, like GAP policy or service contract, kept in force-which is typically terminated when refinancing outside. The key is to maintain the F&I products and keep the dealer in control of the customer relationship throughout the ownership period. We introduced the ownership to nearly all of the top 10 large dealership groups in under 6 months. We also branched out to large F&I houses as resellers.
Fixed Ops Repair Financing
We worked with a company that provides access to fast, flexible financing for everyday people who may need a little help when being presented with a large repair bill at a dealership or retailer. We have known the ownership for years, primarily through their VC investment and work with them over the years on a fee basis. We started with multiple introductions early on when they started, but now we structure a case by case if they need access.
These are examples of a few F&I clients that are successful today, in part, due to the efforts and connections of KCAMG. Contact us today to discuss how we may be able to help your product or service.
