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October 2018, F&I and Showroom - WebXclusive

3 Elements of a Balanced Online F&I Strategy

By Rick McCormick

Flooding your dealership’s website with F&I content without a strategy can be just as costly as underreacting to the Digital Age. The magazine’s resident F&I pro details a balanced approach for taking F&I online.

Tags: Digital, digital retailing, F&I office, F&I process, online F&I

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Bob Moore Subaru

By Gregory Arroyo

The F&I team at Bob Moore Subaru of Oklahoma City is proving every day that Subaru buyers are F&I product buyers. Now their in the running for F&I and Showroom's F&I Dealer of the Year award.

Tags: DOY Pacesetters, EFG Companies, F&I manager, F&I Pacesetters, F&I products

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Cecil Atkission Motors

Richardson describes the group’s sales and F&I processes as ‘predictable,’ meaning the organization values consistency and demands a high level of professionalism and courtesy in sales and F&I.

By Gregory Arroyo

For the last 25 years, the six-rooftop, Kerrville, Texas-based dealer group has operated under the belief that ‘When products are similar, the dealer makes the difference.”

Tags: Darwin Automotive, DOY Pacesetters, F&I director, F&I manager, F&I Pacesetters

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Zumbrota Ford

Zumbrota Ford is a 19-year-old dealership located in a small Minnesota town of the same name

By Gregory Arroyo

Dealer Steve Johnson knows how quickly word spreads when you operate in a small town. That’s why reputation means more than profitability at his Zumbrota, Minn.-based Ford store. It's in the running for the magazine's F&I Dealer of the Year.

Tags: compliance, DOY Pacesetters, F&I managers, F&I Pacesetters, F&I product, Zumbrota Ford

October 2018, F&I and Showroom - Feature

F&I Pacesetters: Prince Automotive Group

Last year, the group’s F&I teams generated $5 million in revenue, about 60% of which was made from product income and the rest from reserve.

By Gregory Arroyo

Prince Automotive Group is proof that operating high-performance finance departments while maintaining the highest level of ethical practices is possible. Now it's in the running for F&I and Showroom's F&I Dealer of the Year award.

Tags: compliance, DOY Pacesetters, F&I manager, F&I Pacesetters, F&I training, Prince Automotive Group

September 2018, F&I and Showroom - Feature

Are Noncompetes Enforceable?

Photo courtesy of creativecommons.org/Legistify

By Christian Scali

Although standards vary from state to state, it can be difficult to enforce agreements designed to prevent former dealership employees from taking their skills — and their coworkers and your customers — to competitors.

Tags: California, dealers, employment, Florida, hiring, hiring manager, management, Massachusetts, New Hampshire, noncompete agreements

September 2018, F&I and Showroom - Feature

The Big Menu Debate

By Gil Van Over

The magazine’s resident compliance pro weighs in on one of F&I’s big debates: Is the F&I menu a sales or compliance tool?

Tags: ACE, Automotive Compliance Education, compliance, F&I menu

September 2018, F&I and Showroom - Cover Story

4 Steps to Overcome Any Objection

By Rick McCormick

The magazine’s resident F&I wiz lays out a four-step process for handling any objection and having fun while doing it.

Tags: F&I process, F&I sales, F&I training, objection handling, overcoming objections

September 2018, F&I and Showroom - Feature

The Accept/Decline Form Is F&I’s Best Friend

By Joe Porter

F&I pros who don’t include a completed Accept/Decline form in every deal jacket are not only failing to capitalize on a proven sales tool, they’re putting their dealerships at risk.

Tags: accept/decline form, F&I manager, F&I menu, F&I process, F&I products, F&I sales

September 2018, F&I and Showroom - Feature

Give ’Em Gershwin

By Justin Gasman

Award-winning F&I director explains how using music during his process stimulates his customers' purchasing impulses.

Tags: auto finance, compliance, F&I manager, F&I process, F&I sales, sales, YouTube

September 2018, F&I and Showroom - Feature

Winning by Design

By Bill Wittenmyer

Dealership expert breaks down four key elements to building a high-performance team in today’s retail environment.

Tags: hiring, sales, Showroom, training

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

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Blog

So Here's the Deal

Ronald J. Reahard
Help! My Dealership Is Packing Payments

By Ronald J. Reahard
Top trainer comes to the rescue of an F&I manager who fears an antiquated, discredited, and deceptive sales tactic has taken root at his store.

Sharing the Profit

By Ronald J. Reahard
After losing members of his sales team, a dealer asks the magazine’s resident F&I expert for his take on paying salespeople on F&I income.

Menus Don’t Work Miracles

By Ronald J. Reahard

Avoiding the AAA Objection

By Ronald J. Reahard

Done Deal

Gregory Arroyo
Red Flags Alert

By Gregory Arroyo
The editor believes recent regulatory activity should serve as a warning to dealers who haven’t dusted off their Red Flags compliance programs in the years since the rule took effect.

GAP Suffers Another Setback

By Gregory Arroyo
The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.

Car Buyers Need F&I

By Gregory Arroyo

Protecting F&I’s Future

By Gregory Arroyo

Mad Marv

Marv Eleazer
Readers Are Leaders

By Marv Eleazer
Do you know the minimum amount of tread depth a tire must have for a tire-and-wheel claim to be approved? If you don’t, His Madness has a message for you.

Comply Like Nobody’s Watching

By Marv Eleazer
His Madness wants F&I pros to commit to ethical dealings with customers and finance sources because it’s the right thing to do, not just for the very real threat of reprisal.

'We Never Buy This Stuff'

By Marv Eleazer

Stop Painting Dealers With a Broad Brush

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