F&I and Showroom magazine and Innovative Aftermarket Systems are once again seeking out the best F&I performances in five categories with the launch of the second annual F&Idol contest. F&I managers who want to participate must submit their entries by Wednesday, Aug. 1.

Last year, the magazine and IAS, the sponsor of the contest, set out to find the best F&I presentations in five product categories. This year, the two companies have teamed up again to find the best F&I pitch in the following categories: Vehicle Service Contracts, GAP, Tire and Wheel, and Key Replacement.

New this year is an “Other” category, which allows F&I managers to submit a video entry for whatever F&I product they choose.

Category winners will receive a $1,000 cash prize, free airfare, hotel accommodations and a free pass to the Industry Summit 2012 (Sept. 10-12), where they’ll be honored during a special ceremony. One winner will then be named the grand prize winner and the recipient of 2012 F&Idol trophy.

The overall winner, which is selected by readers of F&I and Showroom magazine via an online vote, also will receive an additional check for $2,500. He or she will also be profiled in the magazine’s October 2012 issue.

“Like last year, this is for yearlong bragging rights,” said Gregory Arroyo, executive editor of F&I and Showroom magazine. “We received some great entries last year, and we expect even better this year.”

Last year, readers selected Greg Paul “GP” Anderson’s video entry as the winner. The F&I manager for Park Rapids, Minn.-based Thielen Motors also took the top spot in the GAP category, bringing his total cash winnings to $3,500. To view all 2011 entries, click here.

Those interested in participating must submit their video entries by Wednesday, Aug. 1, 2012. Each submission must be five minutes or less, include at least one fictional/stand-in customer in a staged transaction, and show a minimum of two objection-handling techniques.

Entries can be recorded using an iPhone, Android phone, Flip video camera, iPad, Webcam or any other recording device. Videos can then be uploaded to the contest site at www.fanidol.com.