Wednesday, July 6, 2022
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Tag: F&I Department

Fraud is on the rise in lending — here’s how to...

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2021 was a year of recovery for the entire automotive industry, and for dealers in particular. Showroom traffic increased even during a once-in-a-generation inventory...
DEI

6 strategies to build a better DEI program in your F&I...

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Every dealership in the new post-lockdown COVID world has had to deal with staff turnover and the fallout from what most economists have dubbed...
VSC

How to stay competitive with online VSC companies

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Since the pandemic hit, dealers are finding that the landscape of online aftermarket providers has increased, and they are targeting consumers that want to...
PVR

Beyond PVR—dig deeper for greater F&I success

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What does success look like in the F&I department? How should it be measured? PVR (per vehicle retailed) is currently the most examined metric...
brand

Leveraging the power of your dealer brand with white label F&I

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Even though dealers have to manage multiple competing issues of low inventory, rising lending rates, and a pandemic that is not quite 100% gone,...

Is 2022 shaping up to be another strong year for F&I?

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The forecast for 2022 in the automotive industry has been a bit of a mixed bag as 2021 did not see the huge turnaround from COVID that many had hoped for. Delta and Omicron delayed a stout rebound until much later in the year.  Add to that the chip shortage that settled in early last […]
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women

How to attract and retain more women in F&I in 2022

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March is International Women’s Month and probably the perfect time to look at how the F&I market looks for women in F&I. 2022 is bringing many challenges to the automotive space but that doesn’t mean that there aren’t unique opportunities for women to take a more prominent role here. In today’s dealership environment, it’s becoming […]
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data

Data analytics in F&I – Remember, humans are behind the numbers

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When dealerships use data to take a more granular look at how the different departments are performing, it can uncover a lot – positive and negative. How much of a margin is held in sales? What is the average RO in service? Are parts personnel pricing for proper margins vs. local suppliers? Data is critical […]
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F&I

How to Become a Blackbelt in Your F&I Department

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It takes the following things to be wildly successful in your F&I department in 2020:  Best-in-class F&I products attached to the appropriate profit participation program.   (Retro-Reinsurance – DOWD)          Defined processes with layers of accountability. Professional coaching & mentoring. Defined Process with Layers of Accountability Processes do not fail. People fail the process. It is […]
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experience

4 Simple Ways to Personalize the F&I Experience

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We live in what people are calling The Age of the Consumer and for the F&I department, it means a fresh focus on providing an experience that is markedly different than what consumers are used to. A more personalized experience, one that is more enjoyable than it is now. Remember…most car buyers would rather sit […]
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