We bring up these same few points every month or so because how important yet simple they are. When it comes to F&I Professionals, there are a few things that separate the average from the great. A lot of those things come into play after you hear the words ‘No, thank you.’ A great F&I Professional…
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Industries change overnight these days & automotive retail is not immune. It is so important that as an industry we make strides toward the future. With changing profit structures comes ample opportunities that need to be seized in order to stay relevant. It is time to embrace the change and open our minds to the…
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What do the new CFPB regulation changes mean & what how will the NCLC report come into play? A report from the National Consumer Law Center revealed inconsistent and discriminatory price markups on F&I products over a span of six years in all 50 states and the District of Columbia. The data set included information on…
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Fraudulent automotive purchases are not slowing down & the repercussions for these deals are as damaging as ever. Even dealers with preventative programs in place are at risk. You need to make sure your dealership is asking the right questions, following the correct processes & keeping an eye out for red flags that suggest that…
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We all know that cash customer’s can come with their challenges. They are not buying products from a payment mentality. Your job is to show the value of the product and how it will protect their investment. These customers can come with various, unique objections. Just remember the value of your products & sell on!…
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President Donald Trump has threatened to withdraw from the trade deal with U.S., Canada and Mexico, which is heavily utilized by automakers who have production and supply chains spread across the three countries. The proposed rules were viewed as untenable for automakers, as well as Mexico and Canada. Those in the auto industry who would like…
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You know the obvious sale killer terminology out there. However, you may be surprised how many words & phrases you use that can put your customer in the wrong headspace. Communicating plays a huge role in your success. Are there any words or phrases you avoid in the F&I office? Don’t say that! 14 words…
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Automotive loans hit a record high in the second quarter of $1.1 trillion while subprime hits near-record low. Deep subprime hit a record low of 3.45%. What do you think? Will these trends continue or will lenders loosen the reigns? Subprime Pullback Continues in Q2 by Melinda Zabritski We can help your dealership with our real-world…
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The idea that F&I departments are on their way out is not only a misconception but will be a huge mistake for any dealer who decides to go with a technology-based or hybrid model. Eliminating what is the highest profit earning department in your dealership will not only cut off potential earnings but it might also ruin…
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Do you listen & understand the meaning behind your customers words? You may be sacrificing customer satisfaction & profit. Make sure you are understanding the reasoning behind your customers words, they may just need more information or maybe they are trying to decide how to pay for it. Never let an assumption kill a conversation….
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