how to be a better F&I manager at an auto dealership

$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 customers. A commitment to the craft, a positive attitude and a genuine belief in the products are critical qualities an excellent manager possesses. Their primary goal is to help the other person, not just themselves.

So, if you want to learn how to be a better F&I manager at an auto dealership, read on.

Tips to Be a Successful F&I Manager

It is important to understand what we expect from you if you wish to become a better F&I manager. Here are tips to help you get started.

Get the Right Training

Make sure you have the right education to become a successful F&I manager. This helps prepare you for the role while ensuring you provide only the best level of service to customers.

Training options include online courses. They take a short time to complete and offer access to software and processes critical for the position.

Save the Best for Last

A pitch includes points you feel apply to the customer to make a good choice. However, your customer may never remember everything you say to them. But the last thing you tell them usually sticks.

So, you can decide what points are critical and save those for the end of the sales pitch.

Stay Up to Date

The automotive finance industry is changing. Deals you are offering may change because of the economy, regulations, or rules. It is, therefore, critical you are up to date with the changes.

Continuing education programs for your staff are an ideal way to stay in touch with changes. You can also keep up with industry news online, attend seminars and any other events related to the field.

Set up a meeting with everyone at the dealership to tell them about any adjustments you may need to make according to industry changes.

Be Compliant and Transparent

Customers will only trust you if you are committed to the ethical practices of the auto financing industry. This includes staying compliant with all regulations and rules that protect consumers.

Transparency ensures your customers are fully aware of what you are offering and where your dealership stands in terms of finance. Customers are more likely to make a purchase when they know they can trust you.