Work with the F&I Dept - car dealers' finance and insurance departments
Here's another reason the job of dealership salespeople is critical: if they don't sell the vehicle, then F&I managers lose the chance to sell their products.
Here's an F&I rundown for people who don't know how critical that department is to a dealership:
What is the job of the F&I manager?
To sell customer vehicle protection, get credit approvals "ASAP" and much more.
Why should the salesperson promote the F & I products?
Your customers deserve the best protection they can afford. If you are intending to stay in this business you must believe in protecting your customer as much as possible.f they have a problem, you want to be able to say, "No problem" and see to it. A happy client is a repeat client. And most dealerships pay the salesperson a spiff for helping to sell F & I products.
How does the F & I manager get paid?
They are paid the same as a salesperson, a commission on the gross profit of what they sell.
Your F & I Manager can fill in the chart below for use as a sales team training tool.
The average gross profit for an F & I office should be around $500 per customer. This means the F & I manager has to sell three times as much as a salesperson to have a good month end.
Two steps for car salespeople to help enhance F & I sales:
Step 1
The salesperson must plant the seed of the F&I products during vehicle presentations and/or demonstration drives. Then you must repeat the information in your turnover to your F & I manager.
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