The Road to ROI with F&I

F&I Training Leads To A More Successful Dealership

Posted by Vanguard Dealer Services on Jul 20, 2016 12:00:00 PM

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Every dealership wants to be more successful. Much of this has to do with the personnel. While the inventory, the pricing, and the showroom have an impact on success too, it is all for nothing if the sales team doesn't know what they are doing – and cannot put the customer’s needs first. This is why F&I training is so critical.

A variety of F&I products are available and these need to be shared with the client. It is the art of full disclosure to customers. By providing products and full disclosure, it also helps to protect the dealership assets. It can prevent customers from coming back after their purchase saying “I didn't know.”

Proper coaching and training needs to take place. This includes informing all of the employees about the products, what is and is not included in them, and how they can be beneficial to the customer. This makes it easier to sell the products, which in turn brings higher sales.

A sales team member should never pick and choose as to who they present the products to. Instead, there should be a checklist that encourages presenting all options to all customers all of the time. This is what will create the most success within the dealership.

It may not be second nature for employees to offer F&I products, but over time, it will become so and this is when the dealership will thrive. Plus, customers will be happier because they know about the add-ons available to them.

For more information, contact Vanguard Dealer Services today.

 

Topics: Finance & Insurance, F&I, training

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