F&I and Showroom, Industry Summit 2014
Finance Insurance VALUE MEANS SOMETHING T here are many reasons car Customers land on a particular vehicle for a variety of reasons The F I professor says uncover what those reasons are and youll have what you need to uncover any objection buyers reject the protection products offered in the fi nance offi ce If you have spent any time in the box there is no doubt you have heard the reasons yourself National averages tell us that statistically every product you offer falls short of 50 penetration with the possible exception of GAP So why are so many customers opting out of products that have merit and in some cases make perfect sense Understanding where and why products should be introduced can help us fi nd the answer There is a preconceived notion held by consumers that when purchasing a vehicle they have to run the gauntlet in the fi nance offi ce for their car buying ordeal to be over It shouldnt be that way Past practices and negative press have scared the consumer into tuning out the F I manager In fact that is the only reason why the customer 48 F I and Showroom Industry Summit 2014 enters the fi nance to say Im not interested in anything Making Decisions We all want to make the right decision when purchasing anything that costs a lot of money In order to make a decision we need to feel that a we need it and b we are getting a good deal Given that scenario offering F I products to car buyers without explaining their value is premature and detrimental to closing an amicable sale Most customers select their vehicles on the merits of budget appearance and value The same standards should apply to ancillary products Understanding what customers like about their vehicle should give you all the details you need to build value in protection products Pointing out By John Vecchioni ISTOCKPHOTO COM PRYKHODOV
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