F&I and Showroom, Industry Summit 2014
Finance Insurance ISTOCKPHOTO COM MILAN2099 LISTEN EDUCATE PROTECT The magazines resident F I pro says the way to fi nd true success in the F I offi ce is to drop the sales pitch and focus on the needs of each customer By Ron Reahard A former business associate blessed with an abundance of ego had a favorite expression whenever he began to monopolize the conversation which was often Hed say But enough about me lets talk about you So tell me what do you think about me That line usually got a laugh out of me It also served as a reminder of the dysfunctional F I sales processes I often encounter In far too many dealerships the F I process is not about the customer or what they want Its about what the dealer wants See the primary purpose of having an F I department is not to fi nance more vehicles sell more products or to make more money The real reason 20 F I and Showroom Industry Summit 2014 an F I department exists is to help more customers So if youre not making enough money in F I youre probably not helping enough customers Its that simple In the F I offi ce your job is to help each customer make the right decision for them and their family with regard to the various repayment risk management and vehicle protection options available in connection with their purchase So how do we do that There are three answers 1 Do Whats Right No one has to tell you the difference between right and wrong Whatever the situation just do whats right for the customer The customer may not always be right but we can always do the right thing for them Selling isnt something we do to someone its something we do for and with the customer The F I process should be an informative educational and consultative part of the purchase experience If its not were wasting the customers time And customers dont like when we do that A true F I professional treats every customer with
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