Should Your F&I Provider be Involved in Each Dealership Department?
August 9, 2022
Should Your F&I Provider be Involved in Each Dealership Department?
August 9, 2022
Should your F&I provider be involved in each dealership department? The quick answer is it’s up to you the dealer. However, having tools available from your provider gives you options instead of a single silo “one size fits all” approach only focused on F&I.
The best providers in the marketplace will understand how each department affects the other and having a provider that’s knowledgeable in all areas of operations can help you maximize your reinsurance position. This is done by creating less claims through proper reconditioning, generating more units delivered, and increasing customer satisfaction to boost customer retention.
The Real Questions are as Follows:
1. Does my F&I Provider have the manpower to be involved or even understand Sales, Service, Parts, BDC, Detail, and Accounting?
2. Am I currently being charged for services in departments outside of F&I? If so, how much and what am I receiving?
3. If I want support in departments outside of F&I how is it billed per training or is it included in my admin fee?
4. What benefit would I receive by having assistance at no charge or with a charge in other departments?
5. If my F&I department is performing well and does not need training can I move the training to a department in need of help?
6. How does having my F&I provider involved in other departments increase wealth generation in my reinsurance position?
7. Is my provider acting as a F&I Agent or a partner in total dealership performance?
8. If I don’t receive support in any department including F&I does my admin fee go down?
