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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

January 2017, F&I and Showroom - Feature

Ready, Fire, Aim!

By Jim Maxim Jr.

Dealer software expert makes the case for switching to an electronic menu and reaping the rewards of a swift, productive and compliant F&I process.

Tags: eMenu, F&I , technology, training

January 2017, F&I and Showroom - Feature

Addressing the Overtime Rule Delay

Courtesy of iStock. 

By Dave Druzynski

The new overtime rule is on hold. Now what? Human resources expert unpacks the big decision dealers have to make this month.

Tags: Department of Labor, Fair Labor Standards Act, Overtime

January 2017, F&I and Showroom - Feature

Stop Abusing Bank Reps

Courtesy of iStock. 

By Shaka Dyson

F&I trainer recommends changing the way you treat your auto finance partners before your production — and your professional reputation — suffers.

Tags: Bank Reps, Dealership, F&I Managers, Management, Relationships

January 2017, F&I and Showroom - Feature

Balancing Act

By Melinda Zabritski

We hate to burst your bubble, but there is no bubble to burst. Auto finance expert breaks down the third-quarter results.

Tags: Bubble, Credit Unions, Delinquencies, Financing, Subprime

January 2017, F&I and Showroom - Feature

Relationships Matter Again

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By Jim Houston

With the sales pace slowing, auto finance insider believes dealer relationship management will be a top priority for finance sources in 2017.

Tags: auto finance, Dealer Relationship Management, J.D. Power

January 2017, F&I and Showroom - Cover Story

There's an App for That

The executive team for AutoGravity includes CTO Martin Prescher, CEO Andreas Hinrichs, COO Nicholas Stellman, and COO Serge Vartanov.

By Eric Gandarilla

AutoGravity’s Andreas Hinrichs believes his mobile financing app can serve as the ‘digital glue’ between dealers and finance sources, delivering ready-to-buy consumers to dealer showrooms.

Tags: F&I Technology, Fletcher Jones, Mobile Applications, technology, Vehicle Financing

December 2016, F&I and Showroom - Feature

Busting the Technology Myth

By Nick Sennett

Income development expert says it’s not millennials who are behind the current push to digitize the F&I experience. He makes a case for keeping an open mind when it comes to the latest advancements.

Tags: Dealership Process, F&I , F&I Technology, Millennial, technology

December 2016, F&I and Showroom - Feature

Disarming Silent Saboteurs

By Tom McQueen

Unmotivated and aggrieved employees can undermine your leadership and kill your profits. Operations expert offers a comprehensive plan for preventing the next act of dealership sabotage.

Tags: Dealership, Management, Sabotage

December 2016, F&I and Showroom - Feature

Amazon: Friend or Foe?

Amazon launched Amazon Vehicles in late August, billing its new portal as a “car research destination and automotive community” for car shoppers to view vehicle specs, images, videos and customer reviews for thousands of vehicles. Observers believe the e-tailer’s new research tools function much like Autotrader and Cars.com — minus the lead portion of their services.

By Stephanie Forshee

Amazon now offers consumers a vehicle research tool and a parts store. Are car sales next on the e-tail giant’s agenda?

Tags: Amazon.com, digital marketing, Online Buying, Online Marketplace

December 2016, F&I and Showroom - Cover Story

Hold Your Head High

Incoming NADA Chairman Mark Scarpelli is a second-generation dealer. He serves as president of Raymond Chevrolet in Antioch, Ill., and co-owners, with his brother Ray Scarpelli, of Ray Chevrolet and Ray Chrysler Jeep Ram Dodge in nearby Fox Lake. Before joining the family business, Scarpelli attended Northwood University in Midland, Mich., and served as a district manager of sales for General Motors.

By Tariq Kamal

F&I talks shop, politics and pride with Mark Scarpelli, president of Raymond Chevrolet and Raymond Kia, and NADA’s 2017 chairman.

Tags: Anniversary, NADA, NADA Chairman, NADA Convention and Expo

December 2016, F&I and Showroom - Feature

4 Compliance Predictions for 2017

By Gil Van Over

The magazine’s compliance pro dusts off his crystal ball to offer a few predictions for 2017. If he’s correct, F&I offices could be in for a challenging year.

Tags: CFPB, compliance, Negative Equity, Subprime

December 2016, F&I and Showroom - WebXclusive

A Final Message From the Chairman

By Jeff Carlson

Jeff Carlson reflects on his term as the NADA’s 2016 chairman, highlighting the association’s victories as well as the challenges ahead.

Tags: CFPB, Jeff Carlson, NADA Chairman, NADA Convention and Expo

December 2016, F&I and Showroom - Feature

Defining the Dark Side

By Gil Van Over

There’s one way to keep federal regulators, plaintiffs’ attorneys, attorneys general and the media at bay. Read on to find out what it is.

Tags: CFPB, Dodd-Frank Act, F&I , FTC, Regulators

December 2016, F&I and Showroom - Feature

Is the Dragon Dead?

By Tom Hudson

The magazine’s legal eagle believes the CFPB is more annoyed than wounded by the federal appellate court’s ruling that its single-director structure is unconstitutional.

Tags: CFPB, Court Decision, Finance, Regulations

December 2016, F&I and Showroom - Feature

The Facts of Leasing

Courtesy of iStock. 

By John Stephens

Leasing isn’t slowing down. In fact, it’s spreading to the ­pre-owned market. Dealership expert breaks down the keys to making leasing a viable option for showroom customers.

Tags: EFG COmpanies, Experian Automotive, F&I , Leasing

December 2016, F&I and Showroom - Feature

Ditch the Interview

By Ryan Fischer

F&I pro makes a case for ditching the F&I interview. He says a quick discussion with the salesperson and a look at the customer’s credit report and trade appraisal will tell you all you need to know.

Tags: Customer Interview, F&I , Sales Process, training

December 2016, F&I and Showroom - Feature

Selling Solutions, Not Products

By Rick McCormick

Great F&I professionals don’t jump to conclusions, and they don’t try to solve problems for customers. Instead, they solve problems with customers. F&I trainer explains how.

Tags: Dealership, F&I , training

December 2016, F&I and Showroom - Cover Story

Drive Motors Aims to Break Silicon Valley Mold

Photos by Terence Bordon.

By Eric Gandarilla

Drive Motors’ Aaron Krane is attempting to succeed where other Silicon Valley startups have failed: changing the car-buying experience without disrupting dealer profitability.

Tags: Dealership Systems, Drive Motors, Online Buying, online F&I, technology

November 2016, F&I and Showroom - Feature

Compliance Summit 2016

By Editorial Staff

Dealers, agents and industry professionals gathered inside Paris Las Vegas for Industry Summit 2016, which added compliance certification to its list of offerings.

Tags: Automotive Compliance Education, Compliance Summit, Industry Summit

November 2016, F&I and Showroom - Feature

Formalized and Documented

By Gil Van Over

The magazine's compliance pro believes the FTC may soon take a page out of the CFPB's playbook when it comes to regulating dealers. He explains how dealers can get prepared.

Tags: CFPB, compliance, F&I , FTC

November 2016, F&I and Showroom - Feature

Product Providers Talk F&I Production, What's Driving It, and How Digital May Impact It

Moderated by F&I and Showroom’s Gregory Arroyo, Industry Summit’s ‘From the Boardroom” panel featured Tim Blochowiak of Protective Asset Protection, Greg Oltman of Dent Zone, David Pryor of Safe-Guard Products International, and Matt Trudeau of Dent Wizard. They put the national per-copy average between $1,150 and $1,200, offered their target penetration rates, discussed the popularity of product bundles, and addressed the online F&I push.

By Eric Gandarilla

From what is an acceptable per-copy average to how their companies aim to address the digital divide, four F&I product provider reps offer their take on a host of top-of-mind topics.

Tags: F&I , F&I training, Industry Summit, online F&I, technology

November 2016, F&I and Showroom - Cover Story

Leading the Pack

The F&I team at Sam Pack’s Five Star Ford of Lewisville, including F&I Manager Luke Bosco, F&I Director Tom Andrews, and F&I Managers Kyle Clark and Dru Khal, pose with dealer Sam Pack, group CEO Tony Pack, and General Manager Bobby Ward. The team currently averages $2,000 per copy on new and $1,500 on used.

By Gregory Arroyo

Sam Pack’s Five Star Ford of Lewisville capped off a banner year with F&I and Showroom’s F&I Dealer of the Year award.

Tags: F&I Dealer of the Year, Industry Summit, Sam Pack's Five Star Ford of Lewisville

October 2016, F&I and Showroom - Feature

5 'Tells' of a Lying Job Candidate

By David Druzynski

Human resources expert reveals the five traits hiring managers need to look for when interviewing a prospective candidate.

Tags: hiring, Human Resources, Tips, training

October 2016, F&I and Showroom - Feature

5 Steps to Taking F&I Online

By Rick McCormick

F&I trainer makes the case for digital F&I. He offers a five-step process for adding information about products, pricing, and your finance team to your dealership’s website.

Tags: Dealer Websites, F&I training, online F&I

October 2016, F&I and Showroom - Feature

No Bubbles Here

By Melinda Zabritski

The auto finance industry continued to quell the subprime bubble talk, with finance sources extending credit to five times more superprime car buyers than deep subprime shoppers.

Tags: Experian Automotive, Financing, Leasing, Second Quarter

October 2016, F&I and Showroom - Cover Story

Examining the Bricks-to-Clicks Push

Moderated by F&I Administration’s Kumar Kathinokkula, the P&A Leadership Summit’s ‘Presenting F&I Products Online” panel discussion featured (l-r) Matt Nowicki of IAS, The Impact Group’s Mark Thorpe, Cox Automotive’s Brett Pomerantz, Dan Lievrouw of American Guardian, F&I Director Justin Gasman.

By Gregory Arroyo

Tech vendors believe the industry needs to respond to customer dissatisfaction with the F&I process, but not everyone believes moving the process online is the answer.

Tags: Industry Summit, NADA, online F&I, technology

September 2016, F&I and Showroom - Feature

Debating F&I's Future

Think Tank was the ninth and final session of the magazine’s F&I Think Tank, a one-day event that took place this past May in Tampa, Fla. Moderated by American Guardian’s Bob Harkins, the panel featured (l-r) ‘Mad’ Marv Eleazer of Langdale Ford Co., Luis Garcia of Avid Insurance, and attorney and former F&I manager Eric Judson.

By Tariq Kamal

This past May, top producers and thought leaders took part in a no-holds-barred debate over how the industry must change to meet the needs and expectations of today’s car buyers.

Tags: compliance, Ethical F&I Managers, F&I process

September 2016, F&I and Showroom - Cover Story

Setting the Pace

By Gregory Arroyo

This year’s field of F&I Pacesetters consists of operations from California, Illinois, Texas, and Wisconsin. Each boasts active management teams, pay plans that balance performance with customer satisfaction, and multilayered compliance processes.

Tags: F&I Dealer of the Year, F&I Pacesetters

August 2016, F&I and Showroom - Feature

Protecting Your Dealership Through Proper Screening

By Eric Judson

A New York dealer is in hot water after hiring an F&I professional four months after he was indicted for defrauding customers at another dealership.

Tags: Crime, Dealership, Employee Screening, F&I

August 2016, F&I and Showroom - Feature

Tearing Down Dealership Silos

Courtesy of iStock. 

By Tom McQueen

Retail expert says dealerships are fertile grounds for the morale-killing, business-destroying silo mentality. He offers four recommendations for righting the ship.

Tags: Communication, Dealership, Operations, Silos

August 2016, F&I and Showroom - Feature

3 Steps to Selling Road Hazard Protection

AAA’s 2016 “Your Driving Costs” report showed that the annual cost to own and operate a vehicle in the United States fell to a six-year low thanks to a nearly 25% drop in fuel prices. However, the study also showed that all other costs associated with vehicle ownership are on the rise.

By Dwayne Wiggins & Stuart Brightman

AAA has given F&I managers a $3 billion reason every customer needs to drive off the lot with road hazard protection. Two F&I pros lay out a process for doing just that.

Tags: Driving Costs, F&I products, Potholes, Study

August 2016, F&I and Showroom - Feature

2 Ways to Take a Break and Improve Your Sales Numbers in the Process

By Rick McCormick

F&I trainer says it’s time for a break. He explains how stepping outside and taking a breath of fresh air will lead to more product sales than you ever thought possible.

Tags: Sales, Sales Training

August 2016, F&I and Showroom - Cover Story

Selling Outside the Box

Posing with two members of his F&I team, Ian Vandenbark was named corporate F&I director of Ohio’s Bernie Moreno Companies this past February. In June, the nearly 20-year industry veteran had the group’s F&I operations averaging $1,222 per copy, up from $897 in January. He did so behind a tablet-driven F&I process that has business managers presenting their menu at the sales desk. 

By Eric Gandarilla

Bernie Moreno’s Ohio dealer group is proving that a little tech and a lot of F&I process know-how do mix. So far, the combo has delivered satisfied customers and a 36% increase in the group’s per-copy average.

Tags: F&I , F&I process, F&I training, technology

July 2016, F&I and Showroom - Feature

When Sales and Desk Managers Quote Payments

By Dave Robertson

The magazine’s compliance guru has a few words for dealerships that have desk and sales managers computing and quoting payments.

Tags: Desk Manager, Leg, Monthly Payments, Sales Manager

July 2016, F&I and Showroom - Feature

High New-Vehicle Prices Drive Auto Finance Industry to New Highs in Q1

Courtesy of iStock. 

By Melinda Zabritski

The industry smashed several records in the first quarter thanks to high new-vehicle prices, but stretching terms and leasing weren’t the only ways consumers sought payment relief.

Tags: Auto Loan Terms, Leasing, New Vehicle Prices, Supbrime, Used Vehicles, Vehicle Sales

July 2016, F&I and Showroom - Cover Story

Greg Miller Breaks From F&I Tradition With New Venture

On April 20, 2016, Greg Miller inked a deal to acquire Bob Baker Toyota, marking his return after a year away from the business. The San Diego dealership will operate under his new enterprise: Greg Miller Automotive San Diego. 

By Eric Gandarilla

Greg Miller is back, more than a year after shocking the automotive world when he stepped down as CEO of the Larry H. Miller Group. And as he’s known to do, he’s doing things his way.

Tags: Greg Miller, Larry H. Miller, No-Haggle, One Touch Process, Sales Process, Toyota

July 2016, F&I and Showroom - Feature

Understanding the New Overtime Pay Rule

Courtesy of iStock. 

By Dave Druzynski

Human resources expert breaks down the Labor Department’s new overtime pay rules and what they mean to dealers. He says communication with employees will be key in the months ahead.

Tags: Law, Management, Overtime, Pay Plans

July 2016, F&I and Showroom - Feature

Asset Protection

Courtesy of iStock. 

By David Nathanson

Retail expert says the more dealers carve out their place in the Digital Age, the more their proprietary and customer data becomes a legal and financial liability to their dealership.

Tags: Customer Privacy, Data, Dealership Systems, technology

June 2016, F&I and Showroom - Feature

Vital Signs

By Tom Hudson

The magazine’s resident legal wiz explains how a simple deal jacket review can offer a compelling case for a full compliance checkup.

Tags: compliance, Deal Jacket Review, Legal

June 2016, F&I and Showroom - Feature

Wielding the Velvet Hammer

The advantages females have over their male counterparts when selling product in the F&I office, along with the struggles and perception of women in the automotive retail industry, took center stage during “Doing It Our Way: Women in F&I.” Moderated by F&I Director Dina Wilson, the panel featured F&I professionals Teasha McMillion, Angela Barrett, and Diane Uzelac — each bringing more than 25 years of industry experience.

By Eric Gandarilla

At last month’s F&I Think Tank, female F&I pros shared their stories of perseverance in a male-dominated industry, talked about how times have changed, and explained why they believe women are the future of F&I.

Tags: F&I , training, Women in F&I

June 2016, F&I and Showroom - Feature

Hanging in the Balance

With moderator Robert Harkins looking on, Mosaic Compliance Services’ Jim Ganther offered his take on what the November elections could mean to the men and women manning the F&I office. If a Democrat is elected president, he said, the Consumer Financial Protection Bureau’s fair lending crackdown could intensify.

By Gregory Arroyo

The compliance gurus at F&I Think Tank agreed that a lot is riding on the outcome of November’s presidential elections — including the fate of the F&I department.

Tags: Adverse Action Notice, CFPB, compliance, Dealer Summit, F&I products

June 2016, F&I and Showroom - Feature

The Master's Mindset

Courtesy of iStock. 

By Rick McCormick

Are your penetrations stuck in neutral? Top trainer explains how adopting the F&I master’s mindset creates more enjoyable — and productive — presentations.

Tags: Credit Scores, Customer Experience, F&I , training

June 2016, F&I and Showroom - Cover Story

Operation Overhaul

Pictured is Superstition Springs’ Dealer Principal Alvin Heggs and Finance Director Ben Saxton. When Heggs closed the deal on the Mesa, Ariz., dealership three years ago, net F&I profit was around $240,000 per month, and the F&I team averaged $600 per copy on 135 units sold per month. Since then, F&I net profit has skyrocketed to $510,000 a month, while the F&I team now averages $2,700 per copy on 313 units sold per month.

By Brittany-Marie Swanson

Alvin Heggs took a leap of faith when he bought a fledgling dealership in Mesa, Ariz., three years ago. But his gamble on Superstition Springs Chrysler Jeep Dodge Ram paid off — in spades.

Tags: Dealership, F&I , Internet Leads, Operations

May 2016, F&I and Showroom - Feature

Rethinking Marketing ROI

By Jared Kalfus

Industry insider explains why so many consumer marketing campaigns remain highly inefficient.

May 2016, F&I and Showroom - Feature

6 Ways to Hire for Success

Courtesy of iStock. 

By Scott Bergeron

Hiring to get the body count up can be a recipe for disaster. Personnel expert explains why dealers and managers need to hire character first and credentials second.

Tags: hiring, Management, NADA, Pay Plans, training

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Blog

So Here's the Deal

Ronald J. Reahard
(Video) Handling Remote Deliveries

By Ronald J. Reahard
An F&I pro from Atlanta is struggling with deals involving remote deliveries. The magazine’s resident F&I expert has the answer.

Achieving $1,600 Per Copy

By Ronald J. Reahard
An F&I manager from New York asks the magazine’s resident F&I pro how achieving a $1,600 per-copy average is even possible. He responds with strategies employed by the Top 25 F&I operations in the nation.

Starting F&I Online

By Ronald J. Reahard

(Video) Handling the 'Be Back' Objection

By Ronald J. Reahard

Done Deal

Gregory Arroyo
Resistance Isn’t Always Futile

By Gregory Arroyo
The editor delves into results of a new study that says 60% of dealers who aren’t using tablets aren’t even considering adopting them.

Time to Change the Message

By Gregory Arroyo
The editor wonders what marketers hope to accomplish by bashing F&I and warns them not to bite the hand that pushes the buttons.

Turning 100

By Gregory Arroyo

Are the CFPB’s Days Numbered?

By Gregory Arroyo

Mad Marv

Marv Eleazer
Finding Pleasantville

By Marv Eleazer
His Madness finds himself dreaming of the town of Pleasantville, where deals arrive properly structured and every customer has an 800 credit score.

Taking Inventory

By Marv Eleazer
His Madness offers up some recommendations for making 2017 a prosperous year, maybe even a record-setting year.

Culture Clash

By Marv Eleazer

Defining F&I Success

By Marv Eleazer

On the Point

Jim Ziegler
Stop Flushing Those Ad Dollars

By Jim Ziegler
‘Da Man’ delivers a marketing plan that produces Google and social media leads and reduces your dependency on underperforming lead providers.

CPO: Are You In or Out?

By Jim Ziegler
Da Man believes CPO leasing will be the hot ticket in 2017, especially now that vehicle OEMs and private companies have muddied the CPO waters.

Fasten Those Seatbelts

By Jim Ziegler

Harry's in a Slump

By Jim Ziegler