Tag: F&I
F&I Practices That Won’t Help Your Bottom Line
Transparency, customer-centric: they’re buzzwords that are so overused they are becoming cliché. In the retail automotive environment, there’s still plenty of room for transparency and a customer-centric experience to be implemented. In no department is that more necessary than the F&I office. Much of the focus has been on the sales process prior to financing. […]
Look Back in The Rear View to Illuminate What’s Ahead
This past year has been a rollercoaster for the auto retail industry. We saw an end to the U.S. auto industry’s unprecedented seven-year sales streak, and entered a new post-sales peak era. However, the drop in sales in 2017 doesn’t paint the full picture for the future of the auto retail industry. While there’s no […]
How to Handle Vehicle Loans at the Dealership
Like it or hate it, 2017 will go down as one of the oddest automotive years on record. It was a down year, stubbornly immune to the booming economy around it – yet too resilient to take the dive experts thought was coming. Incentives? Dangerous! Prices? Scary! Inventory? Out of control! Yet we sold over […]
Risky F&I Practices & How to Avoid Them
In the years since the Consumer Finance Protection Bureau (CFPB) began to strike fear in the hearts of dealers everywhere, there have been a lot of changes in how F&I departments handle the heavy compliance burden they have on every deal they write. Yet even in the wake of such a massive change in how […]
The New Tax Law & Your F&I Department: The Good...
No matter where you fall on the charged political spectrum these days, one thing is for certain – the new tax law signed by President Trump last month will have lasting effects on both the personal and business landscape for years to come. How it effects auto dealers and more specifically, F&I departments, is even […]
It’s Not About Volume: Make it happen with what you’ve...
John, a seasoned F&I manager, asked the question: “When business slows down, how do I get through the lean periods?” The answer to that is as simple as it is logical: It’s not about how many customers you have. It’s about what you do with the ones you have! Although it’s great while it lasts, […]
What are you doing with your Subprime Deals?
On this week’s episode of F&I Today, Becky Chernek explains how what you are doing with your subprime deals will make a difference selling more cars and increasing F&I profits. Video Transcription: Welcome to F&I Today I’m your host Becky Chernek. What you are doing with your subprime deals will make a difference […]
Selling the Benefits of Leasing this Holiday Season
The last week of the year for a car dealer can be a crazy one. End-of-the-year sales quotas, pressure to move last year’s inventory, and OEM finance incentives make for a busy week especially in the F&I office. Standard bank deals are easy enough to push with strong APR’s and term specials, but how do […]
How Today’s Connected Car Buyer Has Changed F&I… For the...
Twenty years ago a F&I manager was one of the most respected and sometimes feared person at the dealership. They could make or break your deal often within a few seconds of running the credit report. If the sales manager gave up all his front end profit, the F&I manager had to save the back-end […]
What dealers can give customers they can’t get from F&I...
At conferences, summits, and conventions, speakers and panelists often say certain things to get the attention of those attending. At the Best Training Day Ever, it was mentioned that F&I won’t be completely available for customers to go online to complete the entire car buying process in the near future. Tony Dupaquier, Director of The […]
