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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 Carroll

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 - 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

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

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

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 - 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

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

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 - 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

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

Courtesy of iStock. 

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 - 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 - 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

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

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

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

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

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 - 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

April 2016, F&I and Showroom - Cover Story

A New Direction

Pictured are Principle Auto CEO Abigail Kampmann and COO Mark Smith. Nine months after cofounding their four-store dealer group, they took a chance on a new auto-loan equity mining tool and marketing platform called VehicleXchange. It was developed by Dallas-based Pearl Technology Holdings LLC. At BMW of San Antonio, one of the group’s three Texas stores, sales grew 36% in the same year the dealership installed Pearl’s solution. 

By Eric Gandarilla

Principle Auto’s Mark Smith found success after abandoning some of his group’s tried-and-true sales strategies. Now he’s looking to take that change even further.

Tags: Equity Mining, Pearl Technology, Principle Auto, ShowroomXpress, technology, VehicleXchange

March 2016, F&I and Showroom - Feature

Menu Selling Reloaded

Photo courtesy of iStock. 

By Rick McCormick

F&I trainer believes new technology and expert salesmanship can combine to create an efficient and productive menu-selling process.

Tags: F&I menu, F&I Menu Presentation, technology, Tips

March 2016, F&I and Showroom - Cover Story

Mastering the Menu

By Gerry Gould

Does the transition to the F&I menu presentation stress you out? F&I trainer has the three-part cure.

Tags: Creative Selling, F&I menu, F&I Menu Presentation, F&I products

February 2016, F&I and Showroom - Feature

The CFPB's Misguided Crusade

By Dave Robertson

AFIP's executive director has some choice words for President Obama, Sen. Warren and the 'smartest guys in the room.'

Tags: Consumer Financial Protection Bureau, Dodd-Frank Act, President Obama

February 2016, F&I and Showroom - Feature

Measuring Up

By Ryan Fischer

AutoNation's $1,500 per-copy claim was a great achievement, but one industry vet warns F&I pros against using it as a benchmark for F&I success.

Tags: AutoNation, goals, product penetration, PVR

February 2016, F&I and Showroom - Feature

Want vs. Need: A Lesson in Salesmanship

Courtesy of iStockPhoto.

By George Spatt

Industry veteran tells an entertaining tale of a conquest sale from 40 years ago to relay three key lessons about salesmanship and the art of listening.

Tags: Dodge, sales, Tips

February 2016, F&I and Showroom - Feature

Perfecting the F&I Turnover

Courtesy of iStockPhoto. 

By Anna Puzier

Expert says salespeople play a critical role in what happens in the F&I office. She lists four ways they can successfully pave the road to back-end sales.

Tags: Finance, Millenials, Profitability, sales

February 2016, F&I and Showroom - Feature

Nothing but the Truth

Courtesy of iStockPhoto. 

By Rick McCormick

F&I trainer says car buyers will only truly reveal their needs in an environment that rewards honesty. He offers a few trust-building tips designed to get customers to open up.

Tags: Tips, Tips for Success, training

January 2016, F&I and Showroom - Feature

Your Year of Self-Discovery

By Dave Robertson

The AFIP’s executive director offers a few ways F&I professionals can improve their performance and compliance acumen in 2016

Tags: AFIP, certification, NADA, National Automobile Dealers Association

January 2016, F&I and Showroom - Feature

Credibility Does Sell

Gerry Gould was one of the featured trainers at Industry Summit 2015, held at the Paris Las Vegas this past September. Along with fellow UDS trainer Fernando Romani, Gould presented “Actions Speak Louder Than Words.”

By Gerry Gould

Top trainer says rapport moves the metal, but credibility moves the paper. He lists five ways F&I managers can build product-moving credibility.

Tags: Creative Selling, F&I training, sales training

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