DEERFIELD BEACH, Fla. -- F&I provider JM&A Group is doing business in Puerto Rico to help dealers build profitable F&I departments.

Out of about 190 dealerships on the island, probably 5 to 10 percent have F&I departments as we know them, according to Juan Gonzalez, the JM&A regional manager overseeing the Puerto Rico market. The F&I departments that are in place typically stick to processing paperwork. The majority of dealers aren't capitalizing on this potential profit center.

"It's a really exciting time for us in that we're able to go into an area that is undeveloped and develop it -- put in (F&I processes) from start to finish," said Jim McDavid, vice president of North American sales for JM&A Group.

The first phase of this initiative included establishing relationships with finance and insurance institutions in Puerto Rico and researching how the industry operates. JM&A district manager Michael Rodriguez relocated to Puerto Rico to serve as the company's local representative.

JM&A is presently working with 14 dealerships on the island. It recently hosted a golf tournament there to support the Chi Chi Rodriguez Youth Foundation as well as to network with local dealers and insurance and banking professionals. The event included an introduction to F&I.

Puerto Rico dealers seeking further information about JM&A Group can contact Michael Rodriguez at (787) 723-8704 or [email protected].

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