When it comes to the future of car buying, the most compelling change may not be happening in the showroom choosing a vehicle, but during the F&I conversation about products that enhance and preserve the ownership experience.
That’s right. It’s an emerging component to the online to in-store sales experience: engagement with buyers in the F&I office. In fact, According to Cox Automotive Vice President and Digital Retailing expert Mike Burgiss, in a recent CBT interview 84 percent of consumers would prefer to learn about those F&I products online and at home, where they can take time to understand the value of key products. He’s citing key stats from a recent Autotrader study that queried 500 active car shoppers or purchasers.
The interview is just 11 minutes long and well worth a look because it covers valuable insights into the online F&I process, from how consumers want to take the time to understand the value of the products, to how dealers must begin to use digital tools to stay in control of the process. Most importantly, Burgiss goes into detail about Connection Commerce, and shows how dealerships can use online tools to connect with the customer, educate them and allow them to self-select their preferences – thus creating an authentic, credible and profitable relationship – from sales floor to F&I office.