The Road to ROI with F&I

The automotive dealership has several state and federal laws that it must obey. These laws are intended to protect employees and consumers from questionable practices. Compliance with these laws is important for your business to avoid steep fines and penalties. Failure to comply can also cause huge reputational damage to your dealership. Here are a few ways to ensure that your dealership stays compliant.

It's a fact that happy customers spend more than unsatisfied customers and tend to come back. It only makes sense to better the customer experience as a marketing technique.

Customers often describe the F&I process as their least favorite when it comes to buying a car. Here are four ways to improve the F&I Process at your dealership.

As the automotive industry enters a post-pandemic business landscape, dealerships must capitalize on opportunities from in-person F&I conferences to remain competitive. 

Principals and their finance and insurance teams can use the following guidelines to maximize the many networking, educational and marketing resources available at their next F&I conference.

Social media is the new marketing and branding solution for many companies. About 90% of marketers said that social media provided exposure to their company. Spending as little as 6 hours a day can mean more sales, traffic, and recognition for your business. The benefits of using social media for branding your dealership are so great. Learn the different ways to utilize social media to brand your dealership.

Satisfied customers spend a lot compared to unsatisfied customers. Therefore, the easiest way to increase sales is by increasing your customers' satisfaction. Business entities are looking for ways to improve their sales processes and customer experience.

The global automotive industry has been hit hard by the Covid-19 pandemic. Considering that it can cost up to five times more to acquire a new customer than to keep an existing one, it is important that dealerships do everything they can to turn first-time customers into lifelong clients. Keeping customers that you have won over will save you money and help to take your dealership to the next level. So, what can you do to maximize the value of each customer?

As an automotive dealer in the US, you must be conversant with consumer protection regulations, federal and state laws. The Federal Consumer Leasing Act, Truth in Lending Act, Fair Credit Reporting Act, and Gramm-Leach-Bliley Act are but a few examples. Any breach of these legislations will see you face heavy penalties and steep fines.

Satisfied customers spend a lot compared to unsatisfied customers. Therefore, the easiest way to increase sales is by increasing your customers' satisfaction. Business entities are looking for ways to improve their sales processes and customer experience. 

Every so often, you'll hear about a customer who just purchased their umpteenth car from the same dealership. Chances are, if you read the story, the customer was overly impressed with their first purchase experience that coming back was easy. So how can you make the same experience a reality for your customers?

Motivated auto dealership employees are highly productive and easy to manage. You should ensure that they are encouraged and ready to face all the challenges at the workplace. This article provides a few ways you can motivate your auto dealership employees.