10 Tips to Maximize Your F&I Performance

by Don Geroni
AE-emagizine
October 2014

If your F&I performance is lagging, have you ever wondered why? Have you ever wondered what you are doing differently than the high performers? Do you use excuses to defend your less than stellar performance? If so, take a look at the following tips and if you aren’t practicing them, give them a try and watch your performance improve.

Creative License

by Rick McCormick
F&I and Showroom Magazine
August 2015

Everyone is looking for that magic trait that will guarantee success. But successful F&I professionals know that consistently producing at high levels requires a combination of great people skills, the ability to think on your feet, a good sense of humor and effective closing skills that move customers to buy. But there’s another trait that top performers have: creativity.

See, a creative F&I manager takes foundational truths and seeks ways to use them to make customers comfortable and F&I products come alive. These are individuals who embrace change, take risks, aggressively research the many facets of their job and are willing to unlearn old-school methods. If that doesn’t describe you, here are a few tips on how to change that:

How to Keep the F and I Office out of Trouble

by Jamie LaReau
for Automotive News
August 2015

Dealers' goals and those of finance and insurance managers tend to be at odds. 

Dealers seek high customer satisfaction and loyalty and long-term revenue. F&I managers are inclined to focus on short-term profits and maximizing opportunities to generate them. 

If F&I managers prioritize their aims instead of dealers', it could lead to serious problems in the F&I office, such as a slew of chargebacks on F&I products or even illegal practices, industry insiders say. To minimize that risk and ensure customers have a positive F&I experience, they say, dealers should: 

•  Design a process that prevents bad F&I practices and enforces consequences. 

•  Boost F&I education and training. 

• Scout top-notch hires who manage their own credit well.

•  Devise pay plans that shift the focus from commissions to customer satisfaction.