F&I and Showroom, February 2014
Dealer Profi le team and four sales managers at a mid February compliance seminar offered by the Deerfi eld Fla based fi rm In fact all of his current sales managers were groomed as F I managers before assuming their current role The best fi nance manager makes for the best sales manager Cardin says They undestand the paper fl ow so when they go to the desk no one is running to fi nance for rates and deal structure Cardin describes his management team as being fanatical about training developing and cultivating their sales staff The dealership is currently using a weekly Grant Cardone run online training course that features 10 three to fi ve minute videos that all salespeople and managers watch The salespeople have all enthusiastically embraced the weekly training They are all getting more customers written up and ultimately are closing more deals with their newfound sales techniques Cardin says Cardin isnt so stuck to his process that his sales and F I producers cant infuse their personalities and make his scripts their own But there is a rhyme and a reason to what he expects We work on scripts and word tracks because you need to get past the Im just looking response he says Cardin expects his salespeople to uncover their customers situations upfront rather than landing them on a car and backing them into a deal The JM A process decodes the customers motivation for buying using a scripted line of questions Not only does that benefi t the customer by shortening transaction times Cardin says it tees up his F I process The customer is immediately put at ease from this transparent process They in turn are much more open to purchasing the F I products we then offer The Turnover The F I process starts with a discussion between the F I manager salesperson and sales manager Cardins F I producers are looking for each customers hot buttons what the buyer likes and dislikes and what motivated 18 F I and Showroom February 2014 General Manager Nicholas Cardins No 1 rule for his salespeople is to always agree with the customer and be easy to to buy from them to visit the dealership This gives the F I manager the sixth sense needed when he presents the menu Cardin says We want to look at the whole picture If a customer comes in and hes trading in a car and he owes more on it than its worth I know this customer is a good prospect for GAP insurance And this is something we dont need to ask the customer about he adds We can look at the credit bureau to fi nd this out The next step is for F I producers to meet and greet customers in the showroom on their own turf as Cardin describes it The goal here is for the producer to explain what will happen next It is a scripted process but F I managers can personalize it as long as the body of the script is followed Once their showroom visit is complete customers are led to the F I offi ce Verifi cations are made before customers are presented with a menu which producers have already customized based on what they learned from their discussion with the sales department Designed by JM A the menu is broken up into four columns Premium Preferred Basic and a la carte options Cardin says the fourth column allows the most fl exibility in monthly payment and is responsible for the most product sales Last year the F I department at Puente Hills Toyota averaged north of 1200 per copy with producers averaging more than 15 products per deal Their pay plans are more focused on products than reserve because it ties customers to the service department Cardin notes adding that the dealership emphasized product sales vs rate long before the Consumer Financial Protection Bureau CFPB began scrutinizing rate participation programs Thats a political powder keg Cardin says of the bureaus activities In the Mix The F I department at Puente Hills Toyota has a slew of lending options for buyers with Toyota Financial Services getting the lions share of deals Cardin says Capital One Auto Finance ranks second and Cardin says the dealerships sales and F I managers are on a fi rst name basis with the whole Capital One team Since we are in the land of spot delivery we can get approval from Capital One on a busy Saturday literally seconds after submittal Cardin says That type of response has proven invaluable at Puente Hills Toyota where car sales can exceed 75 vehicles on a typical weekend Puente Hills Toyota has reached and maintained Executive level status with Capital Ones Diamond
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