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Just because customers decline a product or service at the time of purchase doesn't mean they won't reconsider if asked again.
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Understanding cash buyers can open the door to more F&I product sales, including dealership financing.
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A few industry veterans share their thoughts about the general climate of F&I and how technology, training and new regulations will impact the industry in the future.
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Initiate e-contracting technology to automate and modernize office procedures.
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Although dealers still have many questions about the requirements of the Patriot Act, the government will not consider ignorance as a viable defense. Compliance must be a top priority in all dealerships.
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The Ferman organization's F&I office sets an example for the industry through its proactive compliance efforts, extensive training and community involvement.
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Caps on income from financing and other core products need not dismay dealers, since they can tap into the $29 billion aftermarket business.
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Every new F&I sales tool requires careful evaluation. See if video presentations are right for your dealership after weighing these pros and cons.
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To maximize the dealership's cash flow, F&I staffers should track loan docs through the funding process.
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Communicating your dealership's policies and procedures in clear, plain language improves the chances of them being followed.
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