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F&I Tip of the Week: Pace Equals Profit

Research shows that people tend to equate fast-paced speech with a lack of credibility, which isn’t what we’re after in the F&I office. F&I trainer John Tabar offers a few tips for uncovering and fixing a pace problem.

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Measuring Up

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.

Group 1 Posts 12.3% Increase in F&I Revenue

The dealer group’s U.S. F&I operations raised its per-copy average $91 to $1,442 in the second quarter. On a year-to-date basis, the group's per-copy average rose $128 from a year ago to $1,499.

Pay Plans Revisited

Far too many compensation plans are a patchwork of fixes that, in the end, make the plans more confusing and less impactful. The magazine’s F&I expert has the answer, a plan that accounts for a new market dynamic.

Profits Rise for Lithia, Group 1

F&I performance helped both dealer groups realize strong profit gains in the second quarter, with Group 1 realizing another record-setting quarter in finance and insurance.

Tracking F&I Performance

The magazine’s reader survey reveals that average profit per new vehicle retailed still hovers around $800, and that F&I managers are averaging approximately two products per deal.

Pay-Plan Breakdown

When it comes to F&I pay plans, don’t be surprised by what you get. Compliance auditor breaks down eight commonly used pay-plan objectives and provides his take on how they impact a dealership’s goals.

Creating the Perfect F&I Pay Plan

F&I pay plans should motivate employees to sell more products and have clear compensation guidelines. If you’re constantly reworking the pay plan, it’s time for a new one.

Creating the Ultimate F&I Pay Plan

F&I managers should know what is expected of them based on their pay plans. Emphasize percentages and CSI rather than just total dollars.

F&I Pay Plans That Get Results

Pay plans that directly promote dealership objectives such as high CSI scores or minimal contracts-in-transit can work wonders toward meeting those goals.