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Dealers must find a new unique selling proposition in a market driven by highly informed car buyers who already know your price and are more likely to be swayed by value.
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F&I pro has a word of advice for colleagues who are ready to connect with customers in a meaningful way — and help ensure they’ll return for their next vehicle.
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Concerns over costs, the customer experience, and intangible benefits have prevented many dealers from competing in the digital sales and F&I arena. Separate fact from fiction with this three-minute read.
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Progress toward a fully online transaction may be inevitable, but you — and your finance sources — must take concrete steps toward process improvement and regulatory compliance to make econtracting work for your store.
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Dealers see the potential for more sales, higher profits, and improved CSI scores that digital sales and F&I can bring. Your employees fear the loss of job security and the burden of new responsibilities.
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Reconsider every aspect of your sourcing, reconditioning, marketing, and lead-generation efforts to get the biggest bang for your used-vehicle buck.
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Once treated as classified information, factory parts data is now shared freely. Opportunistic franchised dealers are seizing the opportunity by selling unneeded inventory to independent repair shops.
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All available research and data suggests car buyers want to research F&I products online. Most say they will be more likely to buy if they can can learn more before they get to the dealership. So why do so few dealer websites offer the information consumers are looking for?
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Shoppers are increasingly moving online for all purchases. Few auto dealers have fully realized the competitive marketing advantage this potentially lucrative data stream can bring.
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Recent revisions to the federal Safeguards Rule cement the need for a compliance officer in every dealership. Whether their duties are performed by an employee or outsourced, satisfying the new requirement is going to cost your store thousands of dollars per month.
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