Tag: F&I
Finding the bright spots for F&I during COVID-19
We are always looking for silver linings when things are going haywire in life. The last 6 months navigating the COVID-19 crisis as a nation is no exception. Every day it dominates the national and local headlines and there is nothing positive about it. It’s awful, it’s still here, and it has left an indelible […]
How to raise your PVR in one simple step
Every F&I department has metrics it must meet every month and, in some cases, every day. They include penetration levels per product, CSI scores, and chargeback rate, among others. The big one is PVR. That number is the single most important number to watch for every dealer, franchise or independent, when it comes to F&I […]
How to increase your F&I gross and offer more affordable auto...
On today’s show, we’re pleased to welcome back David Engelman, Chief Executive Officer at SMART Payment Plan. We last spoke to Engelman on the CBT stage at the 2020 NADA Show this past February. In this segment, we catch up with Engelman to find out how the company has fared through the COVID-19 pandemic. He […]
How to engage more effectively with consumers and build trust during...
In the latest episode of F&I Today, Lloyd Trushel joins Jim Fitzpatrick to discuss the latest F&I trends across the industry. Trushel is an F&I coach, co-Founder of Consator Group, and author of “The Art of F&I.” Trushel begins the conversation by diving into the current state of F&I departments. He says that there is […]
Non-dealer digital loan origination options attracting more shoppers
An increasing number of car shoppers are securing financing options through digital loan originations outside of the dealer’s purview, according to new J.D. Power research. The 2020 U.S. Consumer Financing Satisfaction Study reveals that digital channels are sought more than ever to line up financing for new vehicles before the shopper makes their purchase, sometimes […]
How to provide consumers with consistent and transparent pricing options on...
Today, we’re pleased to welcome back Aaron Bickart, executive vice president and general manager of OfferLogix to discuss the importance of transparent transactions, which are highly valued by consumers. OfferLogix is a platform that allows vendors to provide penny perfect payments to their dealers as well as lease and finance payments that are calculated in real-time, […]
Why better listening in F&I is important to increasing PVR, CSI
Most sales gurus will tell you that the pitch matters, the right questions matter, and that the ‘consultative sale’ is critical to high performance in F&I. But there is something that is more important to sales success and rarely every talked about. Certainly not talked about enough in the F&I office – the power of […]
An F&I early touch is the most profitable transaction
The F&I department is under constant pressure to increase profitability while enhancing the buying experience for the customer. The dealer wants increases in PVR and F&I product counts to fuel their reinsurance or DOWC positions. The sales department wants the F&I department to move faster so the customer does not have to wait. The back […]
5 of the biggest issues facing the F&I office today and...
F&I departments are facing a unique set of challenges in today’s marketplace. While many dealers have recently made strong investments in digital retailing due to the COVID-19 pandemic, the digital push has made many dealers wonder how digital retailing will impact the future of their F&I departments. With experts forecasting the pandemic going well into […]
The Market Remains Uncertain but Your Margins Don’t Have to Be
Henry Ford famously said, “Don’t find fault, find a remedy.” This is exactly what dealerships have been doing since post-World War II when they first encountered margin compression. It was around this time that the U.S. auto market experienced an inundation of foreign-made vehicles and tightening governmental regulations. The result was fiercer competition between OEMs […]
