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POS service plans ‘lost opportunity’

POS finance penetration is growing but dealers are still failing to boost their income through sales of service plans, said Angela Barrow, sales and marketing director of provider Emac.

“Around 10 million new and used cars were sold
in the UK last year but low service plan sales point to a lost opportunity at a time when other profit centres are under pressure,” she said.Barrow said best practice from F&I teams could be used to increase sales, or they could be sold by business managers with the right support.

“Dealers pay close attention to metrics when selling finance products, but the same does not seem to happen with service plans,” she said.

“They are a more logical sale in the showroom than finance. Discussing them with a customer is also a great way for dealership staff to build trust.”

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