Priority One Financial Services, the recreational industry’s oldest and largest F&I outsourcing provider, announced on Tuesday (Feb. 9) an exclusive partnership with VertiSEL, a leading solutions provider for credit denials.
This venture will make credit-repair solutions available to marine and RV dealers and their customers that are seeking to secure financing for the purchase of a boat or RV, according to a news release.
Since 2007, auto dealers, including the nation’s No. 1 Chrysler dealer have utilized VertiSEL’s credit-solution program and have seen significant increases in sales revenue and customer satisfaction. Over 30% of the customers who enroll in the 90-day program return to purchase a unit from the dealership.
“With this exclusive partnership, Priority One can take a program that has had proven success in the auto industry and make it available to marine and RV dealers immediately.” said Gary Rademaker, strategic alliance director for Priority One, which was acquired in 2007 by Forest River Inc., a Berkshire Hathaway company.
Priority One will identify customers who do not currently qualify to finance a recreational purchase due to derogatory credit and refer them to VertiSEL’s 90-day credit improvement program. The service has proven to provide substantial increases in the credit score of clients who enroll and participate in the exclusive course. Priority One will monitor the customer’s progress and upon completion, qualified customers will be referred back to the dealership for purchase. This will ensure the customer has a pleasant and satisfying experience, and the dealership retains a customer and a sale, without any additional work for the dealership or their staff.
“This program can be the difference between making the sale or not and that’s the type of competitive advantage we are committed to bringing our dealers.” said Rademaker.
Priority One has been serving the marine and RV industry since 1987 and serves as the F&I managed services provider for hundreds of dealers nationwide. For more information, visit www.P1FS.com.
Founded in 2007, VertiSEL’s proprietary software and comprehensive tools put denied applicants back into dealerships ready and qualified to purchase. VertiSEL’s exclusive partnerships provide best-of-breed solutions to clients which are unobtainable outside of the VertiSEL solution. For more information call Sean McCoy, president, at (866) 634-5855 or email firstname.lastname@example.org.