As the automotive industry settles into a new normal, dealerships are fast realizing the long-term effects of how they conduct business. This is especially true for your finance and insurance (F&I) department. One thing you should expect is that customers are going to want to purchase more things related to their vehicle. Further opportunities for [...]
Buy-here-pay-here dealerships are the perfect solution for prospective car buyers having trouble securing an auto loan. Your dealership helps by setting up an in-house financing plan. However, popular as the sales model is, it is critical to protect your business and provide more value to your customers using GAP coverage. Read on to find out why [...]
The finance and insurance (F&I) manager is the unseen individual in a dealership. What do they do? And why do car buyers have to meet them before taking their new vehicles home? Read on to find out how F&I managers protect car buyers to these and more questions. Who is an F&I Manager? A meeting with [...]
With an average annual salary of $104,075, the Finance and Insurance (F&I) manager position is one of the most lucrative in the car sales industry. But it's tough to become an F&I manager without experience. So how do you become an F&I manager at an auto dealership? Dealerships are looking for candidates with a strong [...]
$104,075 That’s the average annual salary for an F&I manager, which explains why many are interested in the position. But there’s much more than money to becoming a good F&I manager. The sales force at the dealership quickly determines whether the manager believes in their products or wants to squeeze the extra coin out of [...]
Auto dealerships are among the hardest-hit industries after the widespread COVID-19 containment efforts. Many dealerships had to close or limit their operations to online sales. The virus crisis also meant less showroom foot traffic for those that stayed open. Due to post-COVID-19 impacts on dealership sales and F&I departments, it is now prudent for dealers to [...]
As an independent auto dealer, you know just how frustrating closing a car deal can be. If you can’t close the deal, you don’t make any money. You need to know what successful dealerships are doing to complete car purchases. Take a moment to review this seller's guide to understanding the best steps for closing [...]
Online showrooms are a must. The business of automobile sales is not what it once was. As consumers get more information online than ever before, it's becoming increasingly vital for automobile dealerships to step up their game. Dealers must ensure they have everything they need to compete in the modern market. This process includes ramping [...]
Updating social media for your independent auto dealership is key right now. Covid-19 pandemic drastically changed buying habits. Independent auto dealerships felt the pinch. Yet, now it is time to get ready as states are opening up and buyers are hitting the street to look for their new car. That said, their first stop is [...]
Are you one of the 80% of NIADA independent dealerships who are losing money by not investing in an excellent F&I program? Do you even offer virtual F&I? The virtual F&I program guides your customers through your online buying process when they purchase a vehicle. This technology presents F&I products to buyers. It does this [...]