When it comes to converting cash buyers to dealership financing, follow the customer’s lead. The most common mistake F&I managers make when it comes to cash buyers is attempting to convert them to dealership financing as soon as they discover the customer intends to pay cash for his or her…

The question the F&I department should be asking is how do dealerships across the country routinely hit the $1,500 mark? That might seem impossible when the national average is close to $500. Well, it isn’t, and it doesn’t take rocket science for your sales and F&I operation to achieve that…

Awareness of how and where mistakes can occur is the best way to guard against them. Establish procedures that make compliance the only way to do business.…

Customers will provide all the reasons they need the products you are offering if you ask the right questions and wait for their response. This makes them feel respected and engaged in the buying process.…

Sales and F&I are supposed to be on the same team in a dealership. However, you often wouldn’t know it because there is virtually no communication between the sales manager and F&I manager before,during or after a deal goes to the finance office. Many frustrations that develop between the sales…

Every successful F&I manager knows that customers prefer talking to listening. When customers talk, you have an opportunity to discover their needs, concerns and/or the problems they need help solving.…

When it comes to quoting payments, the sales and F&I process still used in many dealerships has to change. The old “quote ’em an inflated monthly payment, peel ’em off the ceiling and see what sticks” is not only deceptive, it doesn’t work anymore. Give today’s informed, Internet savvy customer…

A good F&I pay plan compensates an F&I manager based on productivity. A great F&I pay plan motivates managers to excel, reinforces a dealer’s commitment to customer satisfaction, and ensures continuous improvement in F&I productivity and profits. A poor pay plan guarantees lots of turnover, turmoil and Tums®.…

Objections are inevitable in any selling situation. An F&I professional must be capable of capitalizing on customer objections. The ability to welcome multiple objections and respond positively no matter how many objections the customer raises is the sign of an experienced professional.…

Every occupation requires specialized tools designed to increase an individual’s effectiveness and allow him to deliver professional results. Architects have computer-aided drafting (CAD) programs. Dentists have X-ray machines. Even the most experienced and knowledgeable mechanic can’t fix anything without any wrenches. Professional F&I managers also have tools they must use…