The automotive industry has seen an unprecedented loss in sales over the past few months and F&I departments are facing serious challenges amidst these losses. We spoke with five leaders in F&I training, and they shared their thoughts, advice, and predictions on what to do today to help prepare for tomorrow.
We’ve all heard scary stories of identity theft and the stolen cars resulting from it. We need to slow down to speed up and use all the tools in our arsenal to prevent identity theft.
The promise of digital retailing certainly benefits car shoppers, many of whom are clamoring for a shorter process when they arrive at the dealership. And with everyone now dealing with COVID-19, car shoppers will rely even more on the digital retailing process.
Due to a multitude of factors, including vehicle sales, household debt and unemployment, automotive lenders will be affected differently depending on their market segment and their loan origination process.
Understanding the differences in target audiences, their feelings about brand, loyalty, preferences, and shopping habits is vital for success.
Everyone wants power and freedom, yet no one wants accountability. We won’t ever change the consumer, but if we better understand their behavior, we can better prepare ourselves for some of the pitfalls of dealing with the general public.
As vehicle margins continue to compress, dealers need to differentiate themselves beyond vehicle prices and offer consumers a premium experience. An excellent reputation and finding the right vendor to manage it are vital first steps.
Data breaches are on the rise across all industries. So, what can you do to be prepared? Start with education and staying up to date with the most common methods used to gain access to a company’s systems.
An unspoken truth is that sometimes a drastic, calamitic action has to sideswipe a process to speed up the evolutionary process. The calamity known as COVID-19 is acting as an agent of revolutionary change in dealer’s sales processes.
Instead of simply asking, telling, or yelling at your team to get you what you need – show them why it matters, and what happens when you don’t have what you need when you need it.