Dealers looking to improve their finance and insurance (F&I) departments should start with one word: structure. On today’s episode of F&I Today, host Paul Brown, VP and Partner at Ascent Dealer Services, explains that having a written, updated, and consistently followed process is essential for delivering results and ensuring a positive customer experience.
“Structure is everything.”
According to Brown, successful F&I departments implement processes developed in collaboration with experienced staff members, which ensures team buy-in and compliance. He also notes that processes should be reviewed and updated regularly, ideally every six months, to stay relevant in a fast-changing environment. Brown stresses that involving the F&I team in developing and refining procedures fosters ownership and accountability.
Consistency among all team members is essential; Brown affirms that while finance managers may have their individual styles, the core steps of the F&I process must remain consistent. Without a consistent process, dealerships risk a fragmented approach that can confuse customers and limit profitability.
Additionally, Brown highlights structured training programs such as the Ascent Dealer Service Road to F&I Black Belt, which teach staff not only the tasks to perform but also the reasoning behind each step. A customer-focused process ensures a smooth, engaging, and pressure-free experience, encouraging service retention, repeat vehicle purchases, and increased F&I product sales.
Well-designed processes also help to align sales and F&I teams, creating a cohesive approach that benefits both staff and customers. Dealers who optimize their F&I procedures can expect improved performance metrics, including higher product penetration, better customer satisfaction scores, and increased dealership profitability.
“If we’re giving a customer experience that they enjoy and giving the customer an experience they want to brag about, now everything else falls in line.”
Further, Brown encourages dealerships to regularly evaluate their F&I processes for relevance, accountability, and customer impact. By focusing on delivering an exceptional customer experience, all other aspects of the F&I operation, including profitability and efficiency, fall into place. Ultimately, Brown said, a structured F&I process should leave customers satisfied, smiling, and eager to return.
F&I Today will continue offering segments on processes, sales psychology, objection handling, and other strategies designed to help dealerships optimize their F&I departments and enhance overall customer satisfaction.
