Dealer Marketing Magazine, by Jim Maxim, Jr. –
Too often during the F&I process, especially during busy days, we presume, jump to conclusions, and rush. Skipped steps and product descriptions given by rote shortchange customers, so they may not hear about or be able to buy the products they could use.
F&I personnel are of paramount value to their employers because they get deals handled and funded, aftermarket product–revenue generated, and happy customers delivered.
General managers cannot afford to assume all is progressing well in F&I, however. Minus careful monitoring—of activities, presentations, products offered, and compliance with best practices and legislation—people tend to assume the best.
But experience and Murphy’s Law says we must prevent the worst from happening. Accountability means we inspect what we expect.
The payoff? Nearly two million F&I dealer transactions using digital e-menu accountability technology (versus no menu) reveal it drives per-vehicle retail lifts of $538, and 52% product-penetration lifts. It also benefits consumers by matching them with products that best match their lifestyle and protects their investment.
Ask yourself these questions about how you monitor and measure accountability through your F&I process: (Go to article)