A free F&I networking site at www.rcubelink.com allows powersports dealers and lenders to find each other, then do business over the Internet securely.
Texas-based Recreational Retail Resource (R3) says it has been developing the service for nearly three years. Mergers-and-acquisitions company Sunbelt Powersports M&A is a co-founder. The other founder is multiline dealer Broadway Powersports, which provided in-store testing. The dealership now processes more than 30 percent of its finance deals through www.rcubelink.com.
The founders say they recognized a need for a secure electronic resource for dealers to manage all of their non-OEM-sponsored lender relationships in one place.
“We found that most dealers recognize the need for adding additional lending sources but either don’t know how to approach lenders or have tried it and found the legwork too tedious to continue as a normal practice,” Tom Macatee, COO of R3 and CEO of Sunbelt Powersports M&A, stated in a press release. “Now www.rcubelink.com is the single spot where dealers and lenders can go to find each other and start doing deals.”
According to R3, the site allows for “safe, seamless and compliant communications between dealers and lenders with convenient, single-entry credit application processing.” A status bar lets dealers know the progress of each application.
R3 says that even though it’s just now publicizing the site, about 50 dealers have signed up through word of mouth. The company defines lenders not by company, but by location. More than 20 are now in the system.
“However, expect that number to explode rapidly as we get the word out on the free service,” Macatee tells Dealernews.
Posted by Arlo Redwine