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To improve your per-copy average and develop selling skills that will last the length of your F&I career, quit making excuses and start allowing customers to express the needs your products were designed to meet.
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Mounting losses have compelled many underwriters to jump ship on guaranteed asset protection, but it remains a cornerstone product that continues to perform for customers, dealers, and F&I managers.
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AutoNation's $1,500 per-copy claim was a great achievement, but one industry vet warns F&I pros against using it as a benchmark for F&I success.
Read More →The dealer group’s U.S. F&I operations raised its per-copy average $91 to $1,442 in the second quarter. On a year-to-date basis, the group's per-copy average rose $128 from a year ago to $1,499.
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Far too many compensation plans are a patchwork of fixes that, in the end, make the plans more confusing and less impactful. The magazine’s F&I expert has the answer, a plan that accounts for a new market dynamic.
Read More →F&I performance helped both dealer groups realize strong profit gains in the second quarter, with Group 1 realizing another record-setting quarter in finance and insurance.
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The magazine’s reader survey reveals that average profit per new vehicle retailed still hovers around $800, and that F&I managers are averaging approximately two products per deal.
Read More →When it comes to F&I pay plans, don’t be surprised by what you get. Compliance auditor breaks down eight commonly used pay-plan objectives and provides his take on how they impact a dealership’s goals.
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F&I pay plans should motivate employees to sell more products and have clear compensation guidelines. If you’re constantly reworking the pay plan, it’s time for a new one.
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F&I managers should know what is expected of them based on their pay plans. Emphasize percentages and CSI rather than just total dollars.
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