F&I and Showroom, Industry Summit 2013
Industry Summit 2013 F I and Showroom 85 many F I managers still think their job is to sell products rather than to help customers As a result they focus on making product presentations rather than on how a particular product will help a particular person Almost every customer objection to every product boils down to Why do I need it If you cant tell them why they do theyre not going to buy it F I Do you think dealers are ready in terms of their compliance procedures for increased scrutiny Reahard The vast majority of dealers strive to ensure they comply with all the laws that impact F I Every dealer should adopt written policies with regard to spot deliveries payment quotes F I product markups job descriptions and use of an F I menu They also need a written code of conduct and F I must be a checks and balance system for the sales department F I Do you think dealerships are prepared to lose dealer participation as a profi t source if the CFPB has its way Reahard While dealer participation may change I dont see this revenue stream being eliminated any time soon We may see larger fl ats or a percentage of the amount of advance but dealers will continue to be compensated for their services F I Whats your take on tablet menus Reahard Simply handing a customer a menu in any form and then expecting they will magically buy products doesnt work in the real world The key is incorporating it into a needs based F I sales process that is designed to capitalize on its unique capabilities I have yet to see a complete mobile F I sales process that does this F I Can you offer any advice on how the F I offi ce can better engage sales and the Internet sales department Reahard With the ever increasing number of Internet customers developing and implementing a written dealership process for when and how F I is involved is absolutely essential A clear understanding of each departments responsibilities constant communication between the two departments and making F I income a signifi cant part of the Internet departments compensation is key to maximizing cooperation sales and profi ts JOHN VECCHIONI National Sales Director and Director of Training United Car Care Logical Conversational Selling Tuesday Sept 17 at 3 p m F I Where do you see most F I departments going wrong while working with a customer
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