MyFinanceGuys.com a Salt Lake City, Utah-based finance and technology firm, has expanded into the RV industry with a product designed to offer RV dealers with more aggressive consumer finance options.
Billy McKee, president of MyFinanceGuys.com, stated in a news release, “The most challenging thing about today’s market is the severe lack of liquidity. This is why we are seeing approval ratios dip well below 20%; it is our mission to change this.”
Historically, dealers have relied upon only a few major lenders to satisfy their retail demand. This was similar to the wholesale side of the business. The need to be more horizontal and have additional funding resources is a large part of the success of a dealer in today’s market. Those who developed alternative relationships before the recession have a major leg up.
Realizing this, McKee and the MyFinanceGuys.com team have aggressively developed new relationships with lenders and currently have over 500 throughout the country. “We have a lender for every niche” McKee says, “We have lenders who do 100% financing, who do not use NADA, who will overlook collections, etc.”
Another benefit MyFinanceGuys.com offers is real time F&I processing through their proprietary web application. The application offers menu selling, application submission and an innovative digital forms program. Many dealers have downsized their F&I Department and need additional technology to get the deals done with fewer people. MFG has the solution for both situations.
McKee stated, “We hired a software development team to transform the ‘F&I Process’ into a web application that RV dealerships can use to guide customers through the retail financing process. The system – which can be accessed at www.myfinanceguys.com through any computer with an Internet connection – allows dealers to easily implement a proven F & I process at their dealership and ensure they are maximizing their F & I profit and approvals in today’s market. MFG has two packages RV dealerships can choose from – one for dealers with their own F&I department in-house and another for dealerships that have been operating without any F&I system in place.
For more information, contact MyFinanceGuys.com at (888) 969-3742 or visit www.myfinanceguys.com.