Your F&I department is where the money and the magic happen. Building long-term customer relationships, establishing retention, and setting up your business for success can all be achieved. But meeting your objectives—and maintaining a healthy balance for your employees—won’t happen automatically. Are you working with your partners to help measure the right metrics and pull the right reports? Are you setting achievable goals? Learn how to achieve success in your F&I department this year with tips from the experts.
1 – Are You Meeting Your VSC Objectives?
CBT News: Advice? Different perspectives open doors. While newer cars are more reliable and tend to break down less often, your customers are still concerned about service needs in the future. Helping them understand the value of a VSC goes a long way.
2 – Surroundings Lead to F&I Success!
F&I Magazine: F&I managers who want to be successful need to take a look at who and what they are surrounding themselves with. And, if you’re not willing to adapt and change to achieve higher results, it won’t make much of a difference how many hours you’re putting in.
3 – Keep Your F&i Team Motivated with Reports
Auto Success Online: Reports might not sell cars, but they do address problems before you see them. Ask your DMS partner to set up these helpful F&I reports to keep your team motivated.
4 – FTC Cracks Down On Credit Repair Schemes
Auto News: F&I managers can help customers build their credit legally. They should caution their clients against doing business with online credit repair agencies, however, who may be taking advantage of them.
5 – Work-Life Balance in F&I: It’s Easier Than You Think
CBT News: Is maintaining a work/life balance as an F&I manager counter-intuitive? Psychologists, sociologists, and gurus will all tell you that the holy grail of dealership employment begins when managers see you as a “whole person,” and not just a worker willing to do whatever it takes to close a deal.
