F&I and the Business Office

The importance of profitability in the business office and today’s increasingly stringent legal climate require having the right F&I training and process for successful product sales. 


Y.E.S. F&I

The Y.E.S. F&I workshop teaches our progressive curriculum for working with today’s internet-educated customer. Taking into consideration the psychology behind customer decisions, our Y.E.S. F&I process equips business managers with the necessary tools and techniques to increase production sales and overall profitability in both a legally compliant and customer-centric manner.


Course Outline

Science of the Sale

  • Today’s internet-educated customer

“Can I?” vs “Will I?”

The 5 Types of Customers in F&I

  • Determine who you’re working with

Creating the Y.E.S. for F&I Products

  • S.T.A.C.K.E.D. and the “emotion”
    • VSC
    • Road hazard
    • Dent & ding
    • Windshield
    • Chemicals
    • Key

Avoiding Objections

  • Trade rotation
  • Miles driven
  • Determine GAP direction

Benefits of the Warranty Overview as Education

  • Need for VSC
  • Need for scheduled maintenance
  • All ancillary F&I products

Benefits of the FTC As-Is Buyers Guide (Outside of Warranty)

  • Need for VSC

Verifying Information

  • Credit life
  • Accident & health
  • GAP

Types of Menu Presentations

  • When to use:
    • Top-down
    • Bottom-up
    • Traditional or tablet

Presenting the Menu

  • Using the Y.E.S.
  • Linking S.T.A.C.K.E.D. to F&I products
  • 3 Ws of product presentations
  • Asking the customer to purchase
  • Effective wording
  • Acceptance
  • Justification of package upgrade

Accept/Decline or Final Menu Presentation

  • Justifying one more product prior to printing

Questions, Statements, or Excuses

  • What is the customer really saying?

Objection Handling via S.L.I.D.E.R. Technique

  • VSC objections
  • GAP objections
  • Ancillary product objections
  • Open product objections – overcoming less common objections

Payment Relief

  • Justification
  • Customer consequences
  • Relief with credibility – maximizing penetrations

Cash Conversions

  • GAP conversion
  • Asset picture example

Compliance Awareness

  • Payment packing
  • Induce to sell with material term
  • Straw purchases
  • RISC
  • FTC As-Is Buyers Guide
  • Potential compliance concerns

 

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4-Day - Y.E.S. F&I School

The Academy’s comprehensive Y.E.S. F&I School is specifically designed to teach an effective process to new or tenured business managers in need of a fresh approach for working with today’s customer base. Mastery of the process is ensured with daily tests, role-play, and regular accountability of process implementation. The Academy hosts a monthly 3½-day F&I school in our hi-tech, interactive facility in Austin, TX with a video roleplay evaluation. We can also produce the same quality business manager in a 3-day format on-site at your location or facility.

 

2-Day - In-Dealership Reset

Our Y.E.S. F&I Reset Workshop has the same highly effective techniques taught in our comprehensive F&I school, but in a 2-day format. This faster-paced workshop provides a dealership or dealer group the ability to install an updated process within their organization, without the additional expense of time and travel. Role-play is limited to the highest impact points of the Y.E.S. process.

 

1-Day Power Boost

The Y.E.S. F&I Power Boost is a fast-paced, high-impact, one-day F&I workshop designed to boost product sales and profitability. Rather than present the entire process, this class places a specific focus on justifying products and overcoming objections. This is our most popular on-location workshop for agents, providers, and dealer groups desiring a quick tune-up for working with today’s customer base.

 


Hybrid F&I

As the industry’s most forward thinking sales and finance training available, we are proud to offer Hybrid F&I training for your dealership or dealer group. The idea of hybrid F&I is having a single person complete the entire transaction, from initial contact with the customer, through offering F&I products and delivering the vehicle. Hybrid F&I is not a cookie-cutter approach – we consult with you to determine whether a Hybrid F&I process would benefit your dealership or dealer group to maximize volume, product sales, and profitability, with an unmatched customer experience. For more information or to find out if this path is right for you, please contact Tony D directly at tonyd@theacademylive.com.

 


F&I and the Desk

Sales and F&I managers both have defined roles in the process of securing approvals for every customer. This is a one-day course designed to help sales and F&I managers work together more effectively and have better engagement in the dealership, all of which builds on individual team principles to further improve and enhance the customer experience. The ultimate result is increased sales and F&I profitability for the dealership.

Course instruction includes:

  • How to read credit
  • Deal structure
  • Submitting to finance companies
  • Working the deal effectively
  • Top questions to ask before working a deal
  • Presentation of numbers
  • Benefits of leasing
  • Responsibilities of the business office
  • Compliance

 

 

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