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January 2018, F&I and Showroom - Feature

Ask the Power Questions

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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

November 2017, F&I and Showroom - Cover Story

F&I Dealer of the Year: Mr. D's Way

Dealer Mike Dunnahoo poses with F&I Manager Jeremy Johnson and longtime F&I Director Jeff Zinsser, who has been with the group for 22 years. Missing is F&I manager Dan Hall, who has been with Star for 11 years. The team averages $1,872 per copy on new and $1,542 on used.

By Gregory Arroyo

When F&I Dealer of the Year Mike Dunnahoo arrived in Abilene, Texas, 18 years ago, he didn’t just take over a dealership, he adopted a community.

Tags: Awards, DOY Winners, EFG Companies, F&I process, GAP, Jeff Zinsser, Mike Dunnahoo, Star Dodge Chrysler Jeep Ram/Hyundai, theft protection, vehicle service contracts

October 2017, F&I and Showroom - Feature

Storytelling vs. Story Selling

By George Spatt

Veteran salesperson and trainer traces the roots of his success to his days as a door-to-door salesman.

Tags: sales, Sales Process, showroom

October 2017, F&I and Showroom - Feature

The Past, Present and Shifting Future of F&I

By Lloyd Trushel

Finance teams of the future will be staffed with professionals whose goals align with those of the dealer and whose jobs are supported — not replaced — by new and emerging technology.

Tags: Customer Experience, digital retailing, F&I manager, F&I process, F&I products, online F&I

October 2017, F&I and Showroom - Feature

Subprime Pullback Continues in Q2

By Melinda Zabritski

The auto finance market is a trillion-dollar industry. It’s also very much a prime market, with subprime financing remaining at near-record lows in the second quarter.

Tags: auto finance, average finance amount, banks, captive finance, credit unions, Delinquencies, finance companies, loan amounts

October 2017, F&I and Showroom - Feature

There is Power in Alliances

By John Vecchioni

Top trainer lists four ways to build an interdepartmental culture that rewards customers while maximizing the opportunity for F&I product sales.

Tags: Customer Experience, F&I office, F&I process, F&I products, showroom

October 2017, F&I and Showroom - Cover Story

Bridging the Digital GAP

By Scott Hendriks and Vincent Weir

Once the king of the car-buying process, dealers are under attack in today’s Digital Age. Industry insiders believe auto finance sources hold the key to restoring order.

Tags: auto finance, digital marketing, digital retailing, direct lending, Indirect Lending, online F&I

September 2017, F&I and Showroom - Feature

Examining NMAC v. Superior Automotive Group

By Christian Scali and Jade Jurdi

Legal eagles deconstruct the case that changed how courts handle contract disputes between dealers and their floorplan lenders.

Tags: Floorplan Financing, lawsuits, Nissan Motor Acceptance Corp., Superior Automotive Group

September 2017, F&I and Showroom - Feature

F&I’s Compliance Driver

By Gil Van Over

An electronic menu can do more than drive the F&I process. Compliance expert offers standards and practices you can use to unlock an emenu’s true potential.

Tags: compliance, desking, digital retailing, F&I manager, F&I process, online F&I

September 2017, F&I and Showroom - Cover Story

Industry Reacts to GM's Disclosure Policy

By Gregory Arroyo

General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealer trade groups believe the OEM’s stated goal of enhanced ‘safety and transparency’ is not the real reason for the new policy.

Tags: aftermarket accessories, compliance, customer disclosures, dealers, F&I managers, General Motors, parts and service, vehicle service contracts

September 2017, F&I and Showroom - Feature

An Interview With Troy Good

By Tariq Kamal

F&I and Showroom traces the history of paintless dent repair with Troy Good, president and CEO of Nobilis Group Inc., home of the Dent Zone brand.

Tags: F&I products, paintless dent removal, Troy Good

September 2017, F&I and Showroom - Feature

Redefining the ABCs of Sales

By Dwayne Wiggins

Trainer believes in the power of persuasion but wants F&I pros to back it with effective training, sincere needs-discovery, and a personalized approach.

Tags: F&I close, F&I process, F&I training, sales training

August 2017, F&I and Showroom - Feature

Setting Up the Edesk

By Gil Van Over

Continuing with his noble effort to define the edealership, the magazine’s resident compliance pro explains why the desking process is ripe for digitization.

Tags: auto finance, compliance, desking, digital retailing, F&I manager, online F&I

August 2017, F&I and Showroom - Feature

Examining the CFPB’s Arbitration Rule

By Thomas B. Hudson, Esq.

Legal experts break down the Consumer Financial Protection Bureau’s new arbitration rule and how it could affect your dealership.

Tags: arbitration agreements, auto finance, CFPB, compliance, F&I products, Richard Cordray, vehicle service contracts

August 2017, F&I and Showroom - Feature

Disbanding the 'Seven Car Club'

By Reuben Muinos

Sales expert lists three tasks dealers must complete to rid their showrooms of underperforming sales pros.

Tags: Business Development Center, DealerSocket, digital retailing, internet department, Internet Leads, Internet Shopper, showroom

August 2017, F&I and Showroom - Feature

6 Legal Challenges for California Dealers

By Alejandro David Szwarcsztejn

California auto dealers and their employees are on a litigation collision course. Attorney lists six problem areas to discuss with counsel.

Tags: California, California New Car Dealers Association, compliance, Fair Labor Standards Act, labor laws

July 2017, F&I and Showroom - Feature

Missed Calls, Missed Sales

By Erik Nachbahr

Despite today’s digital drive, call volumes at dealerships continue to rise. Dealership tech expert breaks down the two biggest phone problems that drive customers away.

Tags: Business Development Center, Car Buyers, internet department, Internet Leads, showroom

July 2017, F&I and Showroom - Feature

Tracking the Subprime Retreat

By Melinda Zabritski

Finance sources responded to the recent uptick in delinquencies by moving upstream in the first quarter, pushing subprime lending to a 10-year low.

Tags: 30-day delinquency rate, auto finance, Auto Loan Terms, average finance amount, lease, new-vehicle financing, used-vehicle financing

July 2017, F&I and Showroom - Feature

5 Questions F&I Pros Must Answer Monthly

By Rick McCormick

F&I trainer says your answers to five key questions will serve as a roadmap to an unreachable level of performance.

Tags: F&I manager, F&I process, F&I products, F&I training, Rick McCormick

July 2017, F&I and Showroom - Cover Story

The CIT Fix

By Demetrios Lahiri

Operations expert offers a two-step fix for solving cash-flow issues related to contracts in transit. It includes process and technology recommendations, as well as penalties for violations.

Tags: Contracts in Transit, dealer, F&I director, F&I process, general agents, management

July 2017, F&I and Showroom - Feature

A Wolf In Sheep’s Clothing

By Thomas B. Hudson, Esq.

The magazine’s legal wiz reminds dealers and F&I pros why it’s wise to assume every customer knows the bad compliance practices you should have outlawed years ago.

Tags: compliance, F&I manager, GAP, payment packing, Regulations

July 2017, F&I and Showroom - WebXclusive

FIDOY Nomination Period Extended to July 21

By Editorial Staff

The magazine has extended the nomination period for its 2017 F&I Dealer of the Year contest to July 21. Dealership employees, general agents, vendors, finance sources, and F&I product providers are encouraged to nominate their stores and dealer clients.

Tags: American Financial & Automotive Services, DOY Pacesetters, DOY Winners, F&I office

June 2017, F&I and Showroom - Feature

Defining the Edealership

By Gil Van Over

Evolving times require evolving minds. Compliance expert offers a case study to help conceptualize the concept of converting brick-and-mortar dealerships into internet sales hubs.

Tags: digital retailing, econtracting, edealership

June 2017, F&I and Showroom - Feature

Beyond the Résumé

By Shaka Dyson

F&I trainer explains why building and refining a professional skillset is more important than building a solid résumé.

Tags: F&I manager, F&I training, Hiring, hiring manager, showroom

June 2017, F&I and Showroom - Cover Story

The Digital Evangelist

Integrating Dealertrack into Cox Automotive wasn’t Mark O’Neil’s only focus when he was named COO in March 2016. He was also charged with bringing together the company’s four business verticals — Retail Solutions, Inventory Solutions, Media Solution and Financial Solutions — to create what he called ‘One Cox Automotive.’

By Gregory Arroyo

Cox Automotive’s Mark O’Neil talks to the editor about MakeMyDeal’s future, digital retailing, and the fate of the F&I office.

Tags: Cox Automotive, Dealertrack, digital retailing, eMenu, MakeMyDeal, Mark O'Neil, online F&I

June 2017, F&I and Showroom - Feature

When Did ‘Cash’ Become a Four-Letter Word?

By Dwayne Wiggins

F&I trainer shares five proven methods for turning cash customers into F&I product buyers.

Tags: Cash Conversion, F&I manager, F&I menu, F&I products, F&I training

May 2017, F&I and Showroom - WebXclusive

OEM Sales Quotas and the Dependable Dodge Decision

By Christian Scali and Monica Baumann

The owners of Dependable Dodge scored a judicial victory that further erodes manufacturers’ rights to ax franchises that don’t meet their sales quotas.

Tags: Dependable Dodge, disenfranchisement, Franchise Laws

May 2017, F&I and Showroom - Feature

High Mileage, High Potential

Mike Melby, GWC Warranty

By Gregory Arroyo

Things haven’t gone according to script in the used-vehicle market, but GWC Warranty’s Mike Melby believes the profit potential in the high-mileage, pre-owned space remains.

Tags: F&I manager, F&I process, F&I products, GWC Warranty Corporation, high mileage, pre-owned, Used-Vehicle Service Contracts

May 2017, F&I and Showroom - Feature

Playing With Fire

©iStockphoto.com/egdigital 

By Christian Scali and Monica Baumann

Two attorneys issue a warning about a new sales trick circulating through the industry. Their advice: If it’s too good to be true, it probably is.

Tags: compliance, Consumer Financial Protection Bureau, digital marketing, digital retailing, Eric Schneiderman, fraud, FTC Act, Internet Leads, NY Attorney General, payment packing, sales, UDAP

May 2017, F&I and Showroom - Cover Story

The Power of Momentum

©iStockphoto.com/olm26250 

By Rick McCormick

F&I trainer says meeting the demand for daily improvement requires F&I professionals to create and capitalize on their own momentum. He lists 10 momentum-building books every F&I manager must read.

Tags: F&I sales, F&I training, sales, showroom

May 2017, F&I and Showroom - Feature

Credit App Fraud Not a Victimless Crime

By Gil Van Over

Falsifying any of the five key credit determinants on a credit application generates a long list of potential victims inside and outside the dealership.

Tags: auto finance, compliance, Credit Applications, F&I process

April 2017, F&I and Showroom - Feature

Navigating the 'New' Used Car Buyer’s Guide

By Gil Van Over

The magazine’s compliance guru breaks down the Federal Trade Commission’s final revisions to the Used Car Rule. His message to dealers is don’t overthink it.

Tags: compliance, CPO, Federal Trade Commission, service contract, Used Car Buyer's Guide, Used Car Rule, warranty

April 2017, F&I and Showroom - Feature

5 Tech Tools From NADA 2017

By Gregory Arroyo

There were plenty of new innovations on display in and around NADA 2017. The editor takes you on a tour of five new tech tools aiming to help dealers land more sales and F&I opportunities.

Tags: auto finance, AutoFi, ChannelNet, Darwin Automotive, DealerSocket, desking, digital retailing, digitla marketing, F&I menu, online F&I, WebBuy

April 2017, F&I and Showroom - Cover Story

New-Age Sales

Pictured are Roadster COO Rudi Thun and CEO and founder Andy Moss. The latter was formerly head of vehicles for eBay Motors and COO of CarWoo! The San Francisco-based firm evolved from a California broker site to digital retailing solution provider in June 2016.

By Brittany-Marie Swanson

Roadster’s Andrew Moss and Rudi Thun say they’ve created a digital transactional platform that works both in a buyer’s home and in the showroom. But as they readily admit, not every dealer is the ideal user.

Tags: digital marketing, digital retailing, online F&I, Roadster

April 2017, F&I and Showroom - Feature

Stretched Thin

By Melinda Zabritski

The average household is on the verge of being priced out of the new-vehicle market, Experian’s fourth quarter data shows.

Tags: auto finance, Auto Loan Terms, Delinquencies, Experian Automotive, interest rates

March 2017, F&I and Showroom - Cover Story

Rising GAP Claims Reveal Troubling Trends

Tony Wanderon

By Gregory Arroyo

GAP rates are on the rise. Insiders say dealers should welcome the increases, adding that the performance of this core F&I product points to a severe slowdown in the next 24 months.

Tags: auto finance, Auto Loan Terms, claims, F&I products, GAP, Great Recession, guaranteed asset protection

March 2017, F&I and Showroom - Feature

The Big Difference: Statements vs. Objections

By John Vecchioni

F&I trainer explains why handling statements like objections can put customers on the defensive and cost you the opportunity to illustrate the benefits of protection products.

Tags: F&I manager, F&I process, F&I products, objection handling

February 2017, F&I and Showroom - Feature

The Million-Dollar Plan

By Michael Gorun

Fixed-ops expert says dealers who aren’t selling prepaid maintenance plans in service are leaving millions of dollars on the service drive floor each year.

Tags: F&I products, Michael Gorun, Prepaid Maintenance, Service Advisors, service drive sales

February 2017, F&I and Showroom - Feature

State of the F&I Union

By Ryan Fischer

A survey of 159 F&I professionals revealed a number of surprises — and confirmed at least one widely held theory — about compensation and how they feel about their work.

Tags: F&I director, F&I income, F&I manager, F&I products, Pay Plans, PVR, Ryan Fischer

February 2017, F&I and Showroom - Feature

One-Chance Training

By Rick McCormick

Do you show up every day to showcase your skills, or do you show up to develop them? F&I trainer explains the critical difference.

Tags: F&I manager, F&I products, F&I training, Rick McCormick, sales

February 2017, F&I and Showroom - Cover Story

F&I to Go

un Toyota’s Showroom2Go program combines process with technology. For the latter, the dealership partnered with website provider fusionZONE Automotive to customize the online buying platform. It includes a finance module, trade-in value calculator, and the software that puts it all together: Dealmaker.

By Brittany-Marie Swanson

Sun Toyota’s John Marazzi was already an internet sales evangelist before launching a fully online process in September 2016. In its first month alone, the program delivered 75 closed deals and an F&I per-copy average that was just $45 shy of the in-store average.

Tags: digital retailing, online F&I, Sun Toyota, Test Drive, Toyota, vehicle delivery

January 2017, F&I and Showroom - Feature

Naïve, Sloppy or Kinky?

By Gil Van Over

There isn’t much the magazine’s compliance pro hasn’t seen. In fact, he’s got a category for every type of issue he’s come across in his more than 15 years auditing deal jackets.

Tags: compliance, F&I, Truth in Lending Act

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Blog

So Here's the Deal

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Selling High-Mileage VSC Plans

By Ronald J. Reahard
How do you sell a $3,000 VSC on an $8,000 car? Top trainer offers a four-step process to ensure every customer gets the protection they need.

Selling Warranty Compliance Plans

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Do-it-yourself customers will tell you they prefer to save a few bucks by performing their own maintenance. F&I trainer has the perfect response for this common objection.

Handling the ‘Last Car’ Objection

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Sold But Not Closed

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Done Deal

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Rescinding the CFPB’s Auto Finance Guidance

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The editor debunks a few myths about the Consumer Financial Protection Bureau, then explains why the industry is on the brink of repealing the bureau’s auto finance guidance.

Still a Work in Progress

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The editor explains why he put another digital retailing startup on the cover and looks at two studies that point to online car buying and financing still being a work in progress.

It Is Unwise to Lower Your Defenses

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What's Really Behind the Subprime Pullback?

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Mad Marv

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Your F&I Backup Plan

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Equipment failures can’t stop an F&I manager who is prepared for any contingency. His Madness lists four backup plans you can implement today.

Love It or Leave It

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G.O.Y.A.

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The Little Things

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Sharpen Your Survival Skills

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‘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

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Da Man says $40,000-a-month sales rock stars still exist. He says you’ll find them on YouTube and Facebook Live.

The New Stooges

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Is Your Quick Lube Driving Away Business?

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