The Dealership's Customer
Taking care of the customers comes first. After all, their hard earned dollars support everything. Contrary to popular belief, it is not the factories, the big lenders or outside insurance providers who are at the core of the dealership business. The customer is central.
When we add in the dealership’s costs of marketing and advertising to bring in a new buying customer- from whom the dealership wants repeat business- the dealer and Portfolio have an imperative to take care of the customer.
With Portfolio the dealer builds an asset to take care of valued customers.
Finally, all Portfolio F&I products are underwritten by A- Rated insurers so the customer is always protected.
Portfolio is the way to make taking care of the customer easier.
The dealership is completely separate from the dealer reinsurance company. It is a different business entity with different needs. Like all retailers, it profits entirely from selling higher than costs. In every sales or service transaction, the dealership knows whether or not it is engaging in sustainably profitable activity.
It’s not an easy business. As of this writing, the national average pretax profit of dealerships is around 2.2% of sales.
The costs, features and benefits of Portfolio ownership protection products must meet market standards of customer affordability, maintain compliance with applicable regulations, and provide reasonable dealership profitability. We work with our dealers to develop F&I plans that are sound, affordable, and profitable.
The old game of beating down the costs of aftermarket products disappears when the dealer chooses Portfolio. It is such a relief, according to our dealers. All of a sudden they each see the importance of balancing out the needs of the customer, the dealership, and the reinsurance company, which is the party that takes the risk of taking care of the customer.
Reinsurance Company Management
We ensure that the dollars coming from the dealership’s customer to the reinsurance company go to serve the customer, the dealership and the reinsurance company. They are the parties who matter in this business.
We are just honest and expert facilitators of the new way of doing business in today’s automotive retailing.