Point of Sale Program

Transcription

1 Point of Sale Auto Program By Arceri & Associates, Inc. Preferred Vendor for Lessors Buying Group

2 or Bi- Note Equals Success! You set up your customer with weekly or bi-weekly car payments to help them budget to coincide with their paycheck. This is a standard BHPH collection practice that reduces repossessions. Many customers don t have current auto insurance and come back with either the wrong coverage or incorrect lien holder or additional insured info. Your staff uses valuable time trying to close the deal. Saleman requires insurance before closing deal leaves lot to go buy a policy waits 1- hour in agent's office comes back with proof of insurance Vehicle is finally delivered after delays Month to Month Equals Failure! does not budget monthly for their auto insurance premium and as a result over 50% of repos are related to lapsed or cancelled insurance.

3 Food Rent Utilities Gasoline Note Partying BHPH, LHPH and RTO s don t budget monthly for Auto. Without Point of Sale Finance Vehicle Lapse Reposess Vehicle Repair & Detail Vehicle Loss Revenue With Point of Sale Finance Vehicle Include POS We Collect & Biweekly Eliminate Lapse Notices Increase Revenues

4 What s covered? s can receive a policy which includes liability, comprehensive and collision with one insurance carrier while at your dealership. Quoting and placing of policies includes assisting the customer with data entry into an online comparative rater to receive insurance quotes. How much can you earn? Arceri & Associates, Inc. agrees to pay your dealership a $20 processing fee per policy to cover administration of this program. This may include taking photos of the vehicle at inception and faxing the signed documents to our office if required. We recommend that you use ½ of the administration fee or $10 to pay the salary of the Full-time employee. The administration fee is earned every 6 months when the auto insurance policy renews. How does the process work? See chart below: ID - carceri Password - Rent2own Select "Quote" tab and enter zip code to start quote /agent Input Data for Quoting Driver info Vehicle info Select coverage Compare Rates Compare Limits Receive Instant Quotes Call our office to let the customer speak to a live representative for confirmation Once confirmed, we will upload this to the carrier and bind coverage We will fax or documents for signature Application UM Form Premium Finance Form Have customer sign and return to us Complete process Give ID ds Give Declaration Pages photos of vehicle to us (800) Documents to Arceri & Associates

5 Implementing the Point of Sale Program Staff Needed 1 FT person to handle up to 25 new policies per week, process paperwork, receive and post payments and process renewal paperwork. From start to finish, it only requires about minutes to quote, bind, upload, print and post the payment per new policy. Option: If you would like Arceri & Associates, Inc. to supply the PT or FT staff, we can do so for ½ the administrative cost and payment processing fee. Explanation of work required Quoting and placing of policies includes assisting the customer with data entry into an online comparative rater to receive insurance quotes. After the customer agrees to purchase a policy or policies, you assist the customer in placing the policy by collecting the initial down payment and setting this money aside in an escrow account and remitted to our agency, less your $20 processing fee. We will set up billing and invoicing with the customer on a weekly or bi-weekly basis to coincide with the car payment. This budgeting of payments helps the customer avoid late fees, cancellation fees and reinstatement fees and in turn eliminates costly repossessions. In addition, assistance includes helping the customer in signing the required paperwork (insurance application, uninsured motorist forms, premium finance forms, power of attorney forms and any other required documents) and faxing and ing these executed documents to Arceri & Associates, Inc. and the underwriter for processing. Office Equipment Needed Computer with Internet Access Printer Black & White, Laser Fax Machine Software Needed account for processing paperwork and sending photos Checking Account Needed Set up a separate checking account Training We provide complete hands-on training to you and your staff.