Practical articles for dealership teams on the service drive, the sales floor and in the F&I office.
21 articlesClear filters
F&I
It’s been more than three decades since Ted Ings was featured in DealerWorld Magazine. Under his guidance, Fette Ford in Clifton, New Jersey improved their Red Carpet leases from 20 per month to over…
CPI2 min read
F&I
Perception is reality. Picture this: you’re just ironing out the deal on your brand new car. Picking up a pen, you’re ready to sign the dotted line…when you see a few hundred dollars tacked onto the…
Ted Ings1 min read
F&I
Customers have responded that they wish the F&I process was better and that the car buying experience was faster. There’s a way to address both problems with a single item. When the customer is…
Ted Ings1 min read
F&I
Anyone who’s bought a car from a dealership or worked in an auto sales department can identify with “The Box”. The sales agreement has been signed. The next step is to visit the F&I office, also known…
Ted Ings2 min read
F&I
Remember back to the time you bought your first car from a dealership. You had the needs assessment, the product demonstration, and the sales pitch, but they look very different from what happens…
Ted Ings2 min read
F&I
Many customers enjoy getting a new car, but none look forward to dealing with the finance and insurance (F&I) department. Most buyers feel like they’re about to get into a boxing ring when they step…
CPI3 min read
F&I
Like a golf swing isn’t complete once you hit the ball, the F&I advisor’s involvement requires a follow through. The contracts are submitted and the deal is funded. For successful dealerships, the…
Ted Ings2 min read
F&I
In each deal, the least amount of time spent is with the customer, but it’s definitely the most critical stage. The fourth phase in the financial services process the customer interaction, and the…
CPI2 min read
F&I
An important role in the financial services process falls squarely on the sales consultant’s shoulders. The third phase is the transition between the sales and F&I departments. They are tricky waters…
CPI3 min read
F&I
Before the customer sits with the financial services advisor, remember, the role has changed, the deal needs to be worked up. It’s the job of the sales manager and/or the financial services advisor to…
CPI3 min read
F&I
For those who choose to make a living dishonestly, no sleeping pill will erase the negative feelings that remain…. Far too many F&I departments are still trying to swindle or deceive customers in…
CPI1 min read
F&I
As we noted in the previous article, focus groups have given a glimpse into exactly what customers want in the F&I office. At the core, car buyers want to know they can trust the F&I office. Isn’t…
CPI3 min read
F&I
If you are in Sales Management, a Financial Services Manager, Dealer Principal, or involved in Indirect Lending or OEM Management, you’ll want to stay tuned to this five-part series from the Center…
CPI2 min read
F&I
It’s the F&I office where new and used vehicle sales become profitable, according to 2017 NADA Data. In fact, net profit on new vehicles continues to drop with a net loss of $421 per vehicle on…
CPI2 min read
F&I
Reducing Exposure By Building Strong Dealer Relationships The Center for Performance Improvement offers an accelerated two-day course* that provides Bank and Lender Analysts, as well as their Regional…
CPI1 min read
F&I
There’s a lot of information about the financial services advisor relating to the customer. It’s a part of the role that has an incredible impact on customer satisfaction, SSI survey scores, referral…
CPI2 min read
F&I
The financing process can become monotonous and it’s easy to forget that it includes real people. It’s on the lender to do the right thing by the car buyer, either approving or denying a lease or…
CPI2 min read
F&I
Financial Services Managers: The early bird gets the worm This old adage addresses the fact that opportunities are best when you get the jump on the situation. And this is certainly true when it comes…
CPI2 min read
F&I
Vehicle financing is changing. For decades, the F&I manager has been the point person to not just squeeze the bank for rates and terms the customer will accept, but also to upsell those back-end…
CPI1 min read
F&I
Equifax, one of the dominant credit bureaus in the world, experienced a targeted attack in 2017. Approximately 145 million Americans were affected in some way, with over 200,000 credit card numbers…
CPI2 min read
F&I
Whether you’re a dealer in Canada or the United States, this is for you! The Bank of Canada has just hiked its interest rate .25% for the third time in a year to 1.25%. Strong economic growth is the…
CPI2 min read