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Drive to Success: Improving F&I

by Dealertrack
on March 13, 2018

Drive to Success is a weekly series capturing the most influential articles, tips, and tricks from industry experts and publications to help drive your dealership to success. Each week will focus on a specific key topic in the automotive industry.

Consumers Prefer Buying And Selling Vehicles Online—We Have Seen That In The Most Recent Years. This Week’s Drive To Success Focuses On How You Can Create A Stronger Digital Retail Presence For Your Dealership.

 

1- F&I Must be a Team, Experts Say

Automotive News: A dealership can greatly benefit from connecting their departments. F&I managers should work together with the service department advisors to create a better experience for customers. If a customer trusts a service advisor, there will be more opportunity to sell suggested F&I products.

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2- F&I Products That Won’t Help Your Bottom Line

CBT Automotive Network: F&I products and processes can be intimidating to customers. Ensure that your dealership accounts for a customer’s compatibility, security, and opinion in regards to your F&I department. Eliminating or enhancing areas of the F&I and customer relationship will improve rates of customer retention at the dealership.

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3- Put Car Buying in the Fast Lane with Digital F&I

Digital Dealer: One of the best ways to compliment the financial service of a dealer is to make the car buying process more digital. Implementing smoother, technological processes will lead to more success and ultimately more revenue, especially when selling to the Millennial generation.

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4- 5 Simple Ways to WOW Buyers in the F&I Office

CBT Automotive Network: The F&I process can often be messy and take more time than necessary. Create an atmosphere for your customer where they can feel safe and develop trust with your F&I manager. There are many small adjustments you can make in the F&I office to ensure your customer leaves happy and your F&I products prove their fit to the customer.

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5- F&I Trends Won’t Let Up in 2018

Automotive News: Many of the financing trends in 2017 will continue on through 2018. However, make sure your dealership’s F&I department stays updated on the politics and banking behind F&I. Customers are looking for a more digital experience and that should reciprocate in improved cybersecurity at the dealership.

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Check back next week for Drive to Success: Fixed Operations. You’ll learn more about the latest Fixed Operations trends and insights.

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