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August 2018, F&I and Showroom - Feature

The CFPB’s Spirit Lives On

Acting CFPB Director Mick Mulvaney was a featured speaker at the National Association of Attorneys General’s 2018 Winter Meeting in Washington, D.C., this past February. During his address, he said the bureau would be looking to state regulators and attorneys general for leadership when it comes to enforcement.

By Tariq Kamal

Attorney Eric Johnson fields questions about the state of the CFPB, the now fully staffed FTC, and the aggressive stance of state attorneys general. He also offers a critical update on the Military Lending Act.

Tags: Attorneys General, auto finance, CFPB, compliance, Consumer Financial Protection Bureau, Federal Trade Commission, FTC, Gregory Arroyo, interest rates, Mick Mulvaney, NADA, National Automobile Dealers Association, rate markup

August 2018, F&I and Showroom - Feature

Fixing the F&I Time Delay

By Demetrios Lahiri

Self-selection tools can reduce your average turn, accelerate deliveries, and improve F&I production.

Tags: American Financial & Automotive Services, Customer Experience, Darwin Automotive, digital retailing, F&I manager, online F&I, transaction times

August 2018, F&I and Showroom - Feature

Resolve the Downtime Dilemma

By Jordan Coates

There is no such thing as downtime for a properly trained sales team. F&I pro shares a five-step plan for the showroom to monetize the time between ups.

Tags: objection handling, Sales Process, sales training, Showroom

July 2018, F&I and Showroom - Cover Story

Sales in the Blink of an Eye

The Blinker app’s image recognition technology allows users to stand behind a vehicle and snap a photo to receive details like year, make, model, approximate mileage, estimate value, and most of the vehicle’s equipment.

By Stephanie Forshee

Blinker’s P2P ecommerce technology isn’t designed to pose a threat to car dealers. In fact, the company could be working with manufacturers and dealerships in the near future.

Tags: Ally Financial, Blinker, digital retailing, GAP, mobile app, online F&I, private-party sales, Vehicle Service Contract

July 2018, F&I and Showroom - Feature

F&I’s Need for Nobility

getty images/adventtr

By Lloyd Trushel

With 78% of Americans living paycheck to paycheck, F&I insider says it’s time for F&I producers to change their approach.

Tags: auto affordability, auto finance, compliance, F&I manager, F&I process, home values

July 2018, F&I and Showroom - Feature

Moving F&I Online

By Cheryl Miller

Dealer software expert makes the case for following your customers online and adopting a fully digital transaction.

Tags: auto finance, Dealertrack, digital retailing, F&I manager, F&I process, online F&I, software, technology

July 2018, F&I and Showroom - Feature

Priced Out

©GETTYIMAGES.COM/GPOINTSTUDIO

By Melinda Zabritski

Record highs in two critical auto finance categories make clear that vehicle affordability is becoming a big problem for car buyers.

June 2018, F&I and Showroom - WebXclusive

3 Factors Impacting 2018 Auto Shipping Costs

By Max Matev

Transportation and shipping expert identifies three reasons auto transportation costs are up this year.

Tags: Auto Transport, inventory management, Max Matev, MIG Auto Transport, used-vehicle sales

May 2018, F&I and Showroom - Feature

Slurs, Cussing, and Misnomers

By Gil Van Over

Master the F&I language by eliminating three groups of inappropriate, inaccurate, and legally explosive words from your vocabulary.

Tags: auto finance, compliance, F&I manager, workplace

May 2018, F&I and Showroom - Cover Story

Special Report: Unwinding the CFPB

On May 21, President Trump signed into law the Congress-approved resolution of disapproval of the CFPB’s dealer participation guidance, ending the regulator’s attack on a key source of dealer income five years and two months after it began.

By Gregory Arroyo

F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.

Tags: American Financial Services Association, Andrew Koblenz, auto finance, Bill Himpler, Chris Stinebert, compliance, Consumer Financial Protection Bureau, Donald Trump, guidance, National Automobile Dealers Association, Paul Metrey

May 2018, F&I and Showroom - Feature

To Interview or Not to Interview: That Is the Question

By Dwayne Wiggins

Trainer shares six proven methods for preserving the F&I interview without needlessly annoying your customers.

Tags: Customer Interview, F&I manager, F&I products, F&I sales, F&I training

May 2018, F&I and Showroom - Feature

One Giant Leap for F&I

©gettyimages.com/bubaone

By Rick McCormick

Top trainer says it’s time for F&I professionals — particularly the vets — to let go of the past and embrace the changes facing automotive finance and protection products.

Tags: F&I Presentation, F&I products, F&I sales, F&I training, Reahard & Associates, Rick McCormick

May 2018, F&I and Showroom - WebXclusive

3 Ways to Improve Training in Your Store

By Tony Troussov

When managers demonstrate discipline in scheduling, preparing for, and delivering training, sales and F&I professionals develop the skills they need to meet and exceed their goals.

May 2018, F&I and Showroom - Cover Story

Transparency Wave Rolling Into F&I

More than 500 exhibitors lined the aisles inside the Las Vegas Convention Center for the National Automobile Dealers Association’s annual convention and exposition, which was held March 22-25. (Photo Courtesy of NADA)

By Gregory Arroyo

Digital retailing invaded the Las Vegas Convention Center in late March for NADA 2018, but its arrival did little to bring clarity to F&I’s cloudy future.

Tags: Carvoy, Cox Automotive, DealerSocket, Dealertrack, Dent Wizard, digital retailing, ELEAD1ONE, online F&I, Protective Asset Protection Division, Reynolds & Reynolds, Roadster

May 2018, F&I and Showroom - Feature

Cause for Concern: CEOs Take the AFSA Stage

Fielding question posed by Charlie Vogelheim (left) during the 2018 Vehicle Finance Conference’s CEO panel were (from left) Ravi Raghu, president of Capital One Auto Finance; Rich Morrin, president of Chrysler Capital and auto relationships for Santander Consumer USA Inc.; Rich Hyde, COO of Prestige Financial Services; and Dan Berce, president and CEO GM Financial. (Photo courtesy of AFSA)

By Jim Henry

Executives representing leading auto finance sources gathered at the American Financial Services Association’s 2018 conference to discuss the present and future consequences of inflated lease returns, declining used-car values, and rising interest rates.

Tags: American Financial & Automotive Services, auto finance, Capital One Auto Finance, Chrysler Capital, Fiat Chrysler, General Motors, GM Financial, J.D. Power, Lease, Prestige Financial

May 2018, F&I and Showroom - Feature

NADA Seeks Clarity Through Upheaval

Vince Rice, COO of Hyundai Capital and 2018 chairman of the AFSA’s Vehicle Finance Division, interviews Wes Lutz, 2018 NADA chairman and president of Extreme Chrysler Dodge Jeep Ram Inc. in Jackson, Mich. (Photo courtesy of AFSA)

By Jim Henry

NADA Chairman Wes Lutz laid out the association's priorities and touched on a number of pressing topics at the American Financial Services Association (AFSA)’s 2018 Vehicle Finance Conference.

Tags: American Financial & Automotive Services, auto finance, compliance, Consumer Financial Protection Bureau, Donald Trump, Military Lending Act, National Automobile Dealers Association, Vehicle Finance Conference, Wes Lutz

May 2018, F&I and Showroom - Feature

Death by Uber: Regulators React

At the National Automobile Dealers Association’s annual convention this past March, Waymo CEO John Krafcik told attendees he was confident Waymo’s technology would have avoided the fatal accident in Tempe, Ariz. (Photo courtesy of NADA)

By Christian Scali and John Swenson

Attorneys analyze the Arizona fatality involving an autonomous vehicle being tested by Uber and how the tragedy impacts the push for AV going forward.

Tags: Autonomous Driving, connected car, driverless car technology, Uber, Waymo

May 2018, F&I and Showroom - Feature

The ‘Please Do Not Call’ Rule

By Gil Van Over

The federal Do Not Call Registry is not without its flaws, but dealers are nonetheless bound by its rule. Compliance expert offers a primer for sales and BDC managers.

Tags: compliance, Do Not Call, Federal Trade Commission, Robocalls

April 2018, F&I and Showroom - WebXclusive

A Robust Future for Used-Car Sales and CUs

By Bob Child

Credit unions have gained market share as other finance sources have retrenched, creating new incentive to diversify your selection finance sources.

April 2018, F&I and Showroom - Feature

The ’90s Called: They Want Their Presentations Back

Photo via Getty Images. 

By Lloyd Trushel

Are you still rolling out the old NASCAR close? F&I insider says F&I offices need to get with the times and ditch those ‘Buy it now or bad things will happen’ pitches.

Tags: Customer Experience, Customer Loyalty, Customer Service, F&I Menu Presentation, F&I Presentation, F&I Technology, F&I training

April 2018, F&I and Showroom - Feature

Save the Sale Before It Starts

By Jason Forrest

Are your salespeople sabotaging themselves before the sale starts? Dealership expert offers four ways to set them up for a win before the opening gun goes off.

Tags: sales pitches, Sales Tactics, Showroom

April 2018, F&I and Showroom - Feature

Auto Finance Data Reveals Affordability Concerns

Photo via Getty Images. 

By Melinda Zabritski

Fourth-quarter loan balances reached an all-time high for the third year in a row, but records broken for amounts financed and monthly payments raise affordability concerns.

Tags: Auto Loans, Credit, Credit Scores, Finance, Fourth Quarter, Quarterly Report

April 2018, F&I and Showroom - Feature

But the Dude Can Sell!

By Gil Van Over

Overlooking past misdeeds and criminal convictions to land top-performing salespeople puts dealers at risk of losing everything when risky hires revert to old habits.

Tags: Crime, Gil Van Over, Hiring, Showroom

April 2018, F&I and Showroom - Cover Story

F&I in the Era of Digital Darwinism

Phillip Battista is the CEO of Darwin Automotive, an online F&I selling tool. 

By Gregory Arroyo

Darwin Automotive’s Phillip Battista has some strong opinions about digital retailing and online F&I, and he worries some providers — and their dealers — may soon find themselves in legal peril.

Tags: Darwin Automotive, Ecommerce, Mobile Applications, Online Marketplace

April 2018, F&I and Showroom - WebXclusive

Service Advisors Are Exempt From Overtime Rules

By Christian Scali

Auto dealers finally have an answer to a critical compensation question thanks to a 5-4 Supreme Court decision in the Navarro v. Encino Motorcars case.

March 2018, F&I and Showroom - WebXclusive

How to Build Your BK Business

By Denny Long

Expert lists the resources and processes dealers and special finance managers must put in place to serve recently bankrupt customers.

March 2018, F&I and Showroom - Feature

3 Laws of Every Customer Interaction

By Rick McCormick

F&I managers succeed by ensuring their customers learn something, feel something, and are motivated to purchase the protection products they need.

March 2018, F&I and Showroom - Feature

7 Reasons to Embrace Mobile F&I

By Alan Campbell

Car buyers no longer rely on the dealership as their sole source of information about F&I products. Trainer offers seven reasons forward-thinking dealers are meeting customers in the mobile marketplace.

Tags: digital retailing, F&I manager, F&I menu, F&I training, online F&I, Showroom, tablet menu, technology

March 2018, F&I and Showroom - Cover Story

The Laboratory: Wade Ford Tests Connected Cars

Customers of Wade Ford are introduced to and offered the opportunity to purchase SAVY, a dealership-branded mobile app with a long list of driver- and dealer-facing features. 

By Tariq Kamal

Steve Ewing loves the car business, and he is willing to try any new program, tool or process that will help Atlanta’s Wade Ford keep pace with the changing demands of car buyers.

Tags: APCO, connected car, EasyCare, F&I product, SAVY, Showroom

March 2018, F&I and Showroom - Feature

Dealer Fines and How to Avoid Them

By Gil Van Over

Compliance guru outlines the simple steps every dealer must take to avoid violations of federal OFAC, Used Car, Red Flags, and IRS standards — and the steep fines that accompany them.

Tags: auto finance, Automotive Compliance Education, compliance, F&I manager, Form 8300, Gil Van Over, IRS, OFAC, Red Flags Rule, Used Car Rule

March 2018, F&I and Showroom - Feature

Don’t Let the Deal Ruin the Sale

©gettyimages.com/AndreyPopov

By Keith Whann

Compliance expert lists four steps dealers and F&I professionals can take to fill the gaps in your documentation process and prepare your dealership for regulatory inquests.

Tags: Audit, auto finance, compliance, dealer compliance

March 2018, F&I and Showroom - Cover Story

A War on Many Fronts

(Photo courtesy of the NADA)

By Tariq Kamal

NADA chairman and Michigan dealer Wes Lutz takes the association’s helm during a time of transition and conflict at the factory, retail and legislative levels.

Tags: auto finance, compliance, Donald Trump, Fully Autonomous, mobility, NADA Chairman, National Automobile Dealers Association, Wes Lutz

March 2018, F&I and Showroom - Feature

When Greedies Meet Stupids

By Gil Van Over

Dealer compliance expert offers a crash course in detecting and preventing identity theft by fake car buyers and unprincipled employees.

Tags: auto finance, compliance, Federal Trade Commission, Gil Van Over, identity theft, Red Flags Rule

March 2018, F&I and Showroom - Feature

Finding the Right Match

By Dave Druzynski

Hiring expert says talent scouts can learn a lot from online dating profiles. He explains how to punch up your job ads to tell the dealership’s story and create genuine excitement among job-seekers.

Tags: Auto/Mate Dealership Systems, Dave Druzynski, Hiring, hiring manager, human resources, job advertisement

March 2018, F&I and Showroom - Feature

10 Building Blocks of a Dynamic Organization

©gettyimages.com/LuckyBusiness

By Karl Horst and Tom McQueen

Dealer experts list 10 leadership principles that, if embraced, will prevent an organization from becoming another corporate dinosaur.

Tags: dealer, general manager, leadership, Sales manager, training

March 2018, F&I and Showroom - WebXclusive

End Sexual Harassment at Your Dealership

By Kynzie Sims

Successful anti-harassment training requires dealers to acknowledge that some employees simply don’t see the point.

February 2018, F&I and Showroom - WebXclusive

Fraud Alert: Dealer Loses $88K to ID Thief

By Brian Stout

A web-savvy sales manager made a sweet deal that went sour when the ‘buyer’ turned out to be a sophisticated online scammer.

February 2018, F&I and Showroom - Feature

The Right Approach to Adverse Action Notices

By Gil Van Over

Compliance expert gets into the weeds on adverse actions. He explains why you must send a notice to every affected customer, and breaks down your choice of processes.

Tags: Adverse Action Notice, auto finance, compliance, Equal Credit Opportunity Act, Fair Credit Reporting Act

February 2018, F&I and Showroom - Feature

Prioritizing Entity Vitals

By Brennon Romney

Real-life examples prove that failing to meet federal, state, and local requirements for licensing and permits can cause otherwise successful dealerships to lose their right to do business and, in the most extreme cases, their very names.

Tags: compliance, dealer, entity vitals, licensing, management

February 2018, F&I and Showroom - Cover Story

The Rise of Subscription Services

By Michaela Kwoka-Coleman

Automakers are dipping their toes in the subscription waters, but dealers and some industry watchers are skeptical about the business model’s lucrativeness and its ability to attract customers.

Tags: auto finance, Book by Cadillac, Boston Volvo Village, Care by Volvo, Fair, Flexdrive, George Bauer, Ioniq Unlimited, Porsche Passport, Subscription Service, Village Automotive Group

February 2018, F&I and Showroom - WebXclusive

Q&A: Why You Mishandle Your Best Leads

By Tariq Kamal

Digital Air Strike’s Alexi Venneri discusses the results of the company’s latest mystery-shopping study and how dealers can improve the timing and quality of their responses.

January 2018, F&I and Showroom - Feature

Ask the Power Questions

©gettyimages.com/kzenon

By Rick McCormick

The magazine’s resident F&I pro reveals the two magic words that, when mixed with solid power questions, can motivate your customers to buy.

Tags: Customer Interview, F&I manager, F&I process, F&I training, needs-discovery, Rick McCormick

January 2018, F&I and Showroom - Feature

Dealers and the On-Demand Economy

Gettyimages.com/NicolasMcComber

By Mark Thomas

What will your store do when softening demand turns into a showroom crisis? Mobility expert says the on-demand revolution offers plenty of opportunity for resourceful dealers.

Tags: Mobile Applications, rental fleet, Test Drive, Uber

January 2018, F&I and Showroom - Cover Story

Click to Buy

By Gregory Arroyo and Stephanie Forshee

WebBuy isn’t just another digital retailing system. It’s a dealer-funded, dealer-centric platform its creators say will solve F&I’s biggest headaches. And it'll do so with the help of RouteOne.

Tags: digital retailing, internet sales, Online Buying, Online Marketing

December 2017, F&I and Showroom - Cover Story

Tap to Lease

By Brittany-Marie Swanson

Honcker’s Nathan Hecht took his dislike of the typical leasing process and turned it into a mobile app that’s delivering ready-to-go deals to dealers in eight states and an experience studies show customers want — even when it comes to F&I.

Tags: digital retailing, Honcker, Mobile Applications, online F&I

December 2017, F&I and Showroom - Feature

Perfect Storm

By Tariq Kamal

Industry Summit’s executive panel convened to discuss and debate the effects of Hurricane Harvey, the status of the used-car and subprime markets, the GM mandate, and the digitization of the F&I process.

Tags: auto finance, digital retailing, Disclosures, GAP, General Motors, guaranteed asset protection, Hurricane Harvey, new-vehicle sales, online F&I, SAAR, Subprime Financing

December 2017, F&I and Showroom - Feature

Popping the F&I Question

The promposal craze was first mentioned in the Dallas Morning News in 2001, and continues to grow in popularity and scale each year. MTV even launched a series called “Promposal.” Although the promoposal is just a microcosm of society, the author says it illustrates the need for people to feel special about making decisions.

By Dwayne Wiggins

F&I trainer says F&I offices can learn a lot from the current ‘promposal’ craze. He offers a three-step process for converting your one-size-fits-all presentation into a personalized, needs-based proposal.

Tags: F&I menu, F&I Presentation, F&I process, F&I products

December 2017, F&I and Showroom - Feature

REAL ID Has Arrived

(U.S. Air Force Graphic/James Rainier) 

By Gil Van Over

January marks the first implementation deadline for the federal REAL ID Act. Compliance expert outlines the law, its requirements, and two potential issues facing dealers.

Tags: auto finance, compliance, REAL ID Act, Red Flags Rule

December 2017, F&I and Showroom - Feature

Rich Cordray’s Legacy and The Future of the CFPB

By Lucy Morris

A former bureau official reflects on her time under former CFPB Director Richard Cordray, and explains why the industry shouldn’t be breathing a sigh of relief with his departure.

Tags: auto finance, CFPB, compliance, dealer participation, Donald Trump, Hudson Cook LLP

November 2017, F&I and Showroom - Feature

F&I Pacesetters: Gerald Jones Auto Group

By Gregory Arroyo

Meet the two operations that were also in the running for the American Financial & Automotive Services Inc.-sponsored F&I Dealer of the Year.

Tags: American Financial & Automotive Services, Andy Jones, Arden Hetland, compliance, F&I department, F&I products, F&I training, Gerald Jones Auto Group

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Blog

So Here's the Deal

Ronald J. Reahard
Menus Don’t Work Miracles

By Ronald J. Reahard
A fancy new menu can help streamline processes and improve customer engagement, but it won’t replace the hard-won skill and compassion of a true F&I professional.

Avoiding the AAA Objection

By Ronald J. Reahard
Top trainer advises F&I pros to eliminate the ‘I have AAA’ objection by downplaying the very real — but relatively minor — roadside assistance benefit included with most service contracts.

(Video) Capture Missed VSC Sales

By Ronald J. Reahard

The Dealer Moved My Goal Posts

By Ronald J. Reahard

Done Deal

Gregory Arroyo
Car Buyers Need F&I

By Gregory Arroyo
Current market trends are playing right into the F&I product pitch, but they also reveal trouble ahead for the automotive retail industry at large.

Protecting F&I’s Future

By Gregory Arroyo
The editor responds to a reader’s question about whether F&I managers are being replaced by iPads and digital retailing tools.

Game Almost Over

By Gregory Arroyo

The Repair Is Covered

By Gregory Arroyo

Mad Marv

Marv Eleazer
'We Never Buy This Stuff'

By Marv Eleazer
Every F&I pro gets the occasional ‘F’ customer, but they’re a small part of your business and they’re not worth a minute of mental anguish.

Stop Painting Dealers With a Broad Brush

By Marv Eleazer
His Madness has a few choice words for media members who obsess over every act of dealer malfeasance while ignoring their charitable and volunteer efforts.

I Love F&I. How About You?

By Marv Eleazer

Is That Legal?

By Marv Eleazer

On the Point

Jim Ziegler
Bound to Fail

By Jim Ziegler
Da Man returns with a message to vehicle manufacturers jumping into the subscription waters: It ain’t gonna happen.

Sharpen Your Survival Skills

By Jim Ziegler
‘Da Man’ has a plan you can use to survive the collapse of the car business and remain profitable through the dealer apocalypse.

Sales Rock Stars Still Exist

By Jim Ziegler

The New Stooges

By Jim Ziegler