Don’t discount the importance of the F&I part of the sales process
August 28, 2009
Filed under Service Providers
Visit the most successful motorcycle dealerships and in nearly every one you will find an F&I manager. For good reason too, given the incremental profitability an F&I manager generates. Some dealerships with F&I managers take it a step further and forbid their salespeople from making any mention of financing. After all, the possibility of mistakes and litigation today makes it dangerous for anyone other than the experts to talk about financing.
Really? Is that the best approach?
How many of the shoppers who walk through your door are introduced to the F&I manager? Typically only the ones who purchase or get pretty close to it, meaning that typically three-quarters of your shoppers walk back out the door without speaking to the F&I manager.
Granted no one wants untrained salespeople going through the details of financing, but if 75 percent of your floor traffic never meets the F&I manager, isn't it important for the salespeople to at least put a financing "stake in the ground" for your dealership?
By at least mentioning that your dealership helps many buyers find attractive financing, your salespeople will help keep shoppers from walking out the door and buying from a competitor never knowing that your dealership could have provided the same finance terms.