June '17

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rv-pro.com June 2017 • RV PRO • 85 frustrated from having two to 10 deals fall through a month when the customer had fundamentally good credit." Newcoast is not a solution for "bad credit customers," says Arienti. Striking a balance to make it work is statistically seldom. That trepidation, he adds, is like "making angels dance on the head of a pin." It's too much risk. But those two to 10 RV sales that do slip through a month per dealership – whether the customers are self-employed or have complex tax returns – add up. "If the customer has a 680 FICO score, and they're not getting the call, you need to let us see it," Arienti says. For his dealers who see many sales coming from several stores, those two to three deals from each rooftop, "just those deals alone are the size of another store." Online sharing platform Outdoorsy also is capitalizing on missed opportunities in the industry. CEO Jeff Cavins recently announced a partnership with insurer National General Hold- ings. Together, the companies allowed RV owners across the U.S. to put their vehicle on the marketplace economy through sharing services like Outdoorsy or at rental dealerships using Wheelbase – an RV fleet management software that's also owned by Outdoorsy. For the majority of the year, Cavins says, RVs are being left in the driveway. Others have said that RVs are on the road only 10 days out of the year. "The RV industry is behind the times in the sharing space," Cavins says, "so let's bring some modern thinking here." For it to work, National General CEO Barry Karfunkel – fit- tingly in his 30s – needed to convince all 50 states to change their policy. After pulling it off, they expect to see more competitive rates and coverage. In what can almost be regarded as a symbolic gesture to the changing times, the new commercial insurance, Cavins mentioned, meant getting Lloyd's of London and W.R. Berkley to underwrite the product. Neither had previously been engaged with the RV industry. And in an almost simultaneous occurrence, Huntington National Bank acquired FirstMerit Bank for $3.4 billion. The main attractant? The bank's RV and marine sector. It was Huntington's "key initiative," says Tom Wirth, senior VP and managing director of RV and marine finance. The deal expanded FirstMerit's initial dealer network from 17 states up to 26, covering, essentially, the central states on through the East Coast. "We also hired an industry expert for day-to-day processes to run the business as well," says Wirth, who also has over a decade of experience in the sector. "We also really beefed up the staff in our credit side, and brought in a national credit director and lending officers to support the continued growth of application volume in our dealer network." The bottom line is that consumer confidence is high among Baby Boomers and Millennials, and the finance and insurance sector is gearing up to meet the demand for F&I services. 12-VOLT DEEP CYCLE LITHIUM ION BATTERIES DRAGONFLYENERGY.COM • 775-622-3448 ENERGY ® • Built-in Battery Management System • Safe LiFePO4 Chemistry • Life Expectancy: Over 3,000 Cycles • Weight: 29 lbs • 3-Year Full Replacement Warranty, 5-Year Prorated Warranty • Compatible Converters: WFCO, Progressive Dynamics • Compatible Inverters: Magnum, Xantrex • 12.75"L x 6.875"W x 9"H DESIGNED & ASSEMBLED IN THE U.S.A. PART # DF10012 MENTION THIS AD FOR 15% OFF YOUR FIRST ORDER!

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