F&I and Showroom, Industry Summit 2013

Carefree Advantage will attract more customers giving them the confidence 75 they need when purchasing a pre owned vehicle Limited Powertrain Protection 125 Increase 3 16 dƌĂĸĐ Sales WƌŽĮƚƐ United Car Care CAREfree Advantage 3 16 www unitedcarcare com 1 800 571 6412 Industry Summit 2013 F I and Showroom 87 tions go through the fi nance offi ce Internet departments get too involved in fi nance details and not involved enough in features and benefi ts of the vehicle in question Their job is to get customers committed to the vehicle and turn over the fi nance questions and ultimately the paperwork to the fi nance manager Internet departments are not equipped to answer fi nance or fi nance product questions If we want them to do this then we need to train them on sales and F I STEVE VELDKAMP Training Director Great Lakes Companies A Trainers Take Wednesday Sept 18 at 11 a m F I Where do you see most F I departments going wrong while working with a customer Veldkamp Where most F I departments go wrong is they simply forget to present the need for the product Countless sales are lost because the F I manager simply did not state Your car may break down after the factory warranty expires With todays complex vehicles the cost of repairs can be very expensive A vehicle service contract is a great way to budget for those repairs F I Do you think dealers are ready in terms of their compliance procedures for increased scrutiny Veldkamp Most dealers want to do business the right way The challenge for the small dealership becomes trying to understand why the way theyve always done business may no longer be compliant in todays environment Many dealerships need to improve by simply developing written processes and procedures that are followed with a zerotolerance policy F I Do you think dealerships are prepared to lose dealer participation as a profi t source if the CFPB has its way Veldkamp I believe that reserve as we know it is going away I believe it will be replaced with a fl at fee structure As with most things in sales I believe in the 80 20 rule Twenty percent of the dealers are taking a proactive approach and are ready 80 percent are taking a wait and see attitude F I Whats your take on tablet menus Veldkamp I would rather see an F I manager who truly understands how to present the menu effectively use a paper menu than an untrained F I manager use a mobile menu that promises a quick fi x Its not the platform the menu is on its the presenter behind it F I Can you offer any advice on how the F I offi ce can better engage sales and the Internet sales department Veldkamp If F I offi ces are to be successful in the future they need to embrace their Internet department Statistics show that more than 90 percent of customers begin their new vehicle purchase online There needs to be an open line of communication between the Internet department and the F I offi ce along with a written Internet Customer F I process to ensure that every deal is maximized