EFG Companies launched the F&I Profit Guarantee, through which it compensates new clients if revenue goals are not met within a stipulated time frame. The program is built upon the company’s F&I development strategies it's honed for 45 years, proprietary client engagement algorithms, and prequalification analysis.
New EFG clients that were onboarded between 2020 and 2022 saw an average per retail unit (PRU) increase of at least 20%, some reaching a nearly 50% increase. The Ron Marhofer Auto Family, a 100-year-old Ohio-based auto group, generated a 43% PRU increase in 2022 through EFG’s F&I Profit Guarantee program.
“Within days of switching to EFG, the team delivered an accountability-based 90- and 120-day training plan for groups and individuals, along with support for higher-level achievers, and engagement models across all job functions,” said Chris Marhofer, president and CEO of Ron Marhofer Auto Family.
“From formal sales training to compliance assessments and even recruiting top performers, EFG partnered with our team, and we surpassed our already ambitious revenue goals.”
EFG evaluates all potential new clients to determine their eligibility for EFG’s F&I Profit Guarantee program.
“Dealers are starting to feel the painful pinch of lack of affordability by consumers due to record high prices for vehicles, combined with rising interest rates and inflation,” said Eric Fifield, chief revenue officer at EFG Companies.
“The importance of F&I profit on the back end will be defining for most operators as they find themselves competing with continued inflation and Americans delaying their vehicle purchases. Dealers don’t have time for empty promises, which is why we confidently put our money where our mouth is.”
More information about the program can be found here.