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Drive to Success: Innovation and Drive for your F&I Strategy

by Lindsay Lauck
on April 29, 2019

The F&I process, for most dealerships, generates significant potential profit for the business. But regulatory compliance, buyer frustration, and shrinking margins are daily hurdles that threaten to make the F&I process a losing battle. Can finding passion and meaning in your work combat the stress? Can new data-backed integrations bring automation to the way you do business? Read more and get ready:

1 – 5 Ways To Make Sure Your Compliance Program Is Effective

Dealertrack: According to a study, dealerships spend around $200,000 annually on regulatory compliance. Do you have a strategic plan to address this costly part of doing business head-on?

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2 – Why the Why of F&I Matters: Part 1

F&I Showroom: Focusing on the “how” of your business can get you through the day-to-day. But, the “why” is what gets you out of bed, ready to come to work fueled with passion and eager to conquer the next challenge.

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3 – Study: Car Buyers Prefer Fewer Dealerships, Faster Decisions, Cheaper Vehicles

Cox Auto: A study by Cox Automotive indicates that tech-savvy car buyers are spending more time shopping online for their next car. However, when it comes to the activities that would reduce the frustrations of the F&I process—like filling out forms, negotiating prices—less than 10% of shoppers are using technology to speed up the sale.

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4 – vAuto Announces Enhanced Dealer Trade Functionality to Conquest

Digital Dealer: A new enhanced dealer trade functionality is allowing dealers to swap inventory and reduce the risk of loss, faster. This announcement from vAuto aims to reduce the time-consuming process eating into dealers’ profits.

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5 – Auto Lending Trends in an Uber World

The Financial Brand: Technology is changing the automotive market, but we still have a way to go. While Americans are using ride-sharing and ride-hailing more and more, the impact is currently small, for now. However, as time, technology, and regulations change, the shift could be significant.

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Check back next week for more Drive to Success.

 

Tags: DMS, Drive to Success, F&I Compliance

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