Keeping customers afloat

At many dealerships, finance and insurance enter the picture only after a boat is sold. At Marine Center of Indiana, based in Indianapolis, the company’s finance department can sometimes play an integral role in the sales process itself.

The dealership has a rule that anytime a customer asks about payment, interest rates or qualification during the sales process, the salesperson must direct the customer to the finance office immediately. Once there, detailed financing options can be explained and payment plans can be structured so that potential owners feel better about being able to afford the purchase.

“By keeping to this rule 100 percent of the time,” explains Marine Center President Mike Hoffman, “we assure that we have the ability to help the customer get into the right boat for their budget and credit level.”

In addition to financing, Marine Center of Indiana offers extended warranties and also directs customers to local insurers, which can help with those services the company does not offer.

Because the dealership works with customers to make sure they are buying boats they can afford, it has built a loyal clientele and a good reputation in its community. The company says it loses less than 2 percent of its customers to outside lending sources and that it is able to maintain about 80-percent finance penetration.

Marine Center of Indiana’s financing services are just one part of a larger commitment the dealership has to strong customer service. But they play a very important role in the company’s overall philosophy.

“We do things right, and our processes make our dealership different,” Hoffman says. “We take time with every customer to explain everything we can about the boat, financing and our service. Staying in tune with the market, financial rates and lending sources — as well as having a finance manager with more than 20 years of experience — puts us not just a step ahead of our competition, but a giant jump in front of our competition.”