|
|
The Six Deadly Sins of F&I
AFIP Director, David Robertson, identifies six F&I practices you should avoid at all costs.
 1. The Word “Best”
You can NEVER use the word “best” when discussing the finance charge (APR). What’s best to you is your buy rate plus a fair markup. What’s best to a consumer advocate, plaintiff’s lawyer or the media has nothing to do with your bottom line. If you’re asked the question, the correct answer is, “If you wish to finance here, this is the rate that is available.” That’s it. Nothing more.
2. Forging Signatures
Under no circumstances should a customer’s signature be forged on any purchase document, funding document or any other document relating to the acquisition of an automobile. [ more ]
|
|
Coffee Is for Closers
By Patrick York - Vice President of Marketing
Do you know the definition of a "good deal"?
Too often I see salespeople make the mistaken assumption that the less customers pay, the happier they are. Although this assumption is completely unfounded, it is causing salespeople to work their sales managers harder and more effectively than they work their customers, and it is lowering profits in dealerships everywhere.
[ more ]
|
Finance & Insurance
By Lisa Marie Tranum – Marketing Representative
Improve Your F&I Game with Some Tips from the NBA
Whether it’s the NBA or F&I, practice, consistency, and professionalism make the difference between a promising player and a successful one. Take some tips from the pros, and see whether you’re ready to be the next MVP of your F&I department. [ more ]
|
|