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  • Writer's pictureEmerging Technology Insider

Chaparral and Robalo Boats are launching their consumer technology for the boat sales industry

Chaparral and Robalo Boats is introducing Enriched Lead technology on their Dealer 360 website platform. “This technology will allow us to help customers in their buying journey to better know what they may qualify for and provide our dealers with a very clear credit profile of the customer and likelihood of an approval based off of actual lender programs,” said Ryan Swaims of Chaparral and Robalo Boats. “A common challenge that all dealers face is segmenting which leads are likely to close on a selected model and which ones are going to take more work,” said Swaims. “We looked at other Pre-Qualification technologies and found that the results were only surface deep when in reality two identical credit scores can be very different. We want to provide our dealers with real insight into what is driving that score.” The Enriched Lead Technology was created by Elite Funding Technologies, a division of Elite Recreational Finance. “We worked closely with Ryan and his team to give their dealers as true a picture of the customer’s credit based on criteria set by marine lenders,” said Jimmy Delegro, President of Elite Funding Technologies. Here is how the Digital Enriched Lead works. When a customer finds a boat or completes their boat build through Dealer 360, they can get pre-qualified without entering their Social Security Number. The data is then run through Elite Management System as a soft pull with no impact on their score or inquiry on their bureau. The system then takes into account the price of the boat and delivers the key metrics that marine lenders look at, not just the credit score. The dealer will then receive a PDF showing them the details along with a color coded score to know which customers will qualify and which will need some work or may qualify for a lower purchase price. “My team and I have been doing F&I in the marine and RV industries for over 20 years each. We built our program using our years of experience as recreational finance professionals,” said Delegro. “All the metrics we programmed into the Enriched Lead are actual metrics lenders look at.” Since Elite does work with most of the industries lenders, if a dealer receives an 80% or higher and is having difficulty getting the customer approved through their channels, Elite can step in and assist the dealer in getting the unit approved and delivered. Company Bios:

About Chaparral Boats, Inc. & Robalo Boats, LLC. Chaparral Boats, Inc. and Robalo Boats LLC are leading manufacturers of fiberglass boats under two brand names: sterndrive and outboard pleasure boats by Chaparral, including, SSi and SSX Sportboats, OSX, SURF and outboard sportfishing boats by Robalo. Chaparral Boats and Robalo Boats are subsidiaries of Marine Products Corporation (NYSE: MPX). For more information about Marine Products Corporation, Chaparral, and Robalo please visit our websites at About Elite Elite is a full spectrum F&I Services Provider with three unique divisions 1 ELITE RECREATIONAL FINANCE provides full service F&I for dealers as small as $500,000 in sales to well over $20,000,000 with strong lending partnerships and cutting edge technology. 2 ELITE DIRECT FINANCE enables dealers, brokers, buyers and private party sellers access to our concierge services – securing financing, delivering unrivaled communication through broker and customer portals and funding for retail and commercial use vessels like rentals, boat clubs and charters. 3 ELITE FUNDING TECHNOLOGIES has two core products; Elite Management System (EMS) and Enriched Lead. EMS can be scaled as a full F&I Engine, automating several back-office desking functions as well as providing 2-way communication across platforms like AppOne, DMS systems and accounting. EFT’s Enriched Lead Technology helps dealers and manufacturers go beyond typical “prequalification” with A/I to factor not just the credit, but the collateral, cost against actual lender guidelines – to provide an approvable deal, not just a “prequal”

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