To Interview or Not to Interview: Differing Opinions in F&I
Is it best for finance managers to interview customers before they get to the F&I office? Three dealership finance professionals offer their opinions.
Is it best for finance managers to interview customers before they get to the F&I office? Three dealership finance professionals offer their opinions.
Dealer Jill Merriam Dulitsky decided in late 2010 to take a closer look at her stores’ special finance departments. The steps taken to effect improvements in SF at Key Hyundai ultimately benefitted the dealership’s overall operations.
There are risks involved with all third-party relationships. Chip Zyvoloski, senior attorney within the Indirect Lending business at Wolters Kluwer Financial Services, explains that to protect the dealership’s reputation, dealers should complete due diligence on your third-party vendors.
In the last half of the year, buy here pay here dealers revisit their underwriting. BHPH expert Brent Carmichael discusses four areas BHPH dealers should focus on for proper underwriting.
Erin (Mack) McKelvey of Millennial Media discusses targeting auto shoppers through mobile advertising.
At the conventional retail lot, everyone tries to hit a home run on every deal’s gross profit, but pricing BHPH inventory higher to gain additional gross could result in greater losses due to higher collection costs, delinquencies, repossessions and charge-offs. BHPH expert Alan Mosher discusses how to determine an inventory pricing strategy to avoid this risk, a concept he terms “hitting doubles.”
Achieving the right balance of products to sell in a dealership’s F&I office can take some time and periodic tweaking of the menu. Here’s a look at some of the products dealers can consider including on their F&I menus to allow the most opportunities for profit.
Technology has impacted every dealership department, and technology expert Allen Dobbins explains how the F&I department has been impacted by technology.
Over the years, technology has evolved to help in various dealership departments. F&I trainer Kirk Manzo covers a number of options for presenting electronic menus in the F&I office.
Attorney Thomas Hudson poses two scenarios about how dealers comply with the Safeguarding Rule. One scenario is about a dealer who initially had good intentions but allowed compliance cobwebs to build up, the other is about a dealer who implements and maintains a compliant process.