Tag: F&I
Give first-time buyers a bundle of products, just for them
First-time buyers are sometimes a tough sell in F&I. Banks and OE captives usually have a mountain of requirements or steps needed to get approval and even at that, LTVs are watched carefully so they don’t buy more ‘car’ than they can afford. While it can mean higher buy rates for F&I (always a good […]
Tips to leverage the data you already have to close...
We live in a world that is being consumed by the long reach of so-called ‘big data’. It influences nearly every facet of our economy, our consumer choice, and how we interact with the world around us. The more clever among us have even said that ‘data is the new oil’. A commodity of immense […]
Is your dealership leaving money on the table in the...
On the latest episode of Straight to the Point, host Frank J. Lopes is joined by Adam Marburger, President of Ascent Dealer Services. Marburger is one of the leading authorities in F&I department management. Lopes gets straight to the point by asking— is your dealership leaving money on the table in the F&I office? If yes, […]
A simple shift in wording can bring better closes in...
No one likes being ‘sold’. We all shrink away when we hear something that even remotely sounds like a sales pitch and in F&I, it’s easy to feel like that’s what you must do on every deal. After all, F&I is arguably one of the toughest places to sell ANYTHING at the dealership, and high-pressure […]
5 areas where dealers can communicate better with customers
About 90% of loyal dealership clients are still going to consider another brand when the time comes to get a new vehicle. Even if you are doing everything right, you might lose a customer. However, if you aren’t communicating with your audience, you have a much higher chance of them going elsewhere. That’s why you […]
F&I’s three-tier approach: Serve, Connect, Sell
We make things way too difficult in the F&I office. We often forget that people buy from people that they like and trust. We spend an abundance of time drilling and rehearsing fancy closes and word tracks, but we fail to truly connect with the customer. You can almost forget how many miles the customer […]
How to get customers to come back for the first...
It’s easy to think that a manufacturer’s free maintenance plan is enough to bring someone in for the first service if you just had one to offer. If you don’t have that option, how could you get your buyer in for their first service? Let’s look at some ways to get them back and keep […]
Buy-sell expert Alan Haig discusses current valuations and M&A trends...
Haig Partners has new, recently released data on the profits from the largest public automotive retailers. On today’s show, we’re pleased to welcome Alan Haig, President and Founder of Haig Partners to discuss this data and how the ongoing chip shortage is affecting retail automotive. Haig begins the conversation by giving an update on the […]
A ‘back to basics’ approach to F&I during slower times
F&I departments nationwide are once again facing challenging times. The one-two punch of the pandemic hanging on due to the Delta variant and the chip shortage has created a unique space where there are fewer new and used cars to sell and finance, and inventory is hard to come by. It’s a mess. But even […]
Sonic Automotive increases minimum hourly wage to $15
CHARLOTTE, N.C., August 19, 2021 – Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the nation’s largest automotive retailers, today...
