WhitepaperQ-F&I, The Secret Weapon Of F&I Brokers

In 2021 F&I Brokers using the Q-F&I software processed approximately 10,000 deals for 800 Canadian Powersports (and some marine) dealerships. The brokers averaged $1760 of F&I on every unit sold. That’s a lot of F&I! What’s their secret?

One is speed; they are able to process more deals in less time than most business managers can that work out of a dealership. Brokers can quote pricing and payments on just about anything in seconds, not minutes, and in a few minutes more, they can get the deal funded. The software they use to make this possible is Quantech Q-F&I.

So if it’s that easy why is it that a significant number of Canadian Powersports dealerships rely on independent F&I Brokers to provide F&I services? The simple answer is using a broker is easier; making the F&I (finance & insurance) numbers isn’t a walk in the park for those that keep it in-house, in addition to the seasonality and relatively low cost of Powersports products compared to cars and RV’s, business managers need specific expertise and in many provinces certifications to sell key F&I products like insurances and GAP. Further exacerbating the issue is the complexity of the software needed to sell F&I. Many (dealers) would rather hand off that responsibility. Basically, “it’s just not worth the effort”.

A broker’s success is based on their ability to get the buyer funded as quickly as possible. In a matter of minutes, a good broker will get a deal funded that maximizes the F&I potential. The software used in most Powersports dealerships is anything but quick and easy, and slowing things even more, is that most DMSs don’t integrate with lenders or F&I providers so business managers have to double and triple enter almost everything.

The secret weapon many brokers use to process buyers quickly is Quantech Q-F&I. Using “Q” a business manager can build the deal from scratch, and import it in from the Lightspeed DMS (Dealer Management System) or finance portal.

Quantech connects directly to leading Powersports lenders like Lendcare and Yamaha Motor Finance Canada as well as to many others via its Dealertrack integration. Besides being way faster than manually entering customer, unit, and deal information multiple times, Quantech integrations reduce costly errors. Adding F&I products is accomplished with a mouse click, further speeding up the process. Once approved by the lender, paperwork is printed and provided to the customer in advance of delivery. It’s that easy using Quantech!

Contact us now or request a FREE demo for more information about maximizing the F&I performance at your dealership.