The digital age has brought about significant shifts in how consumers research and purchase vehicles. But that's where most of the focus has been about the sales process.
According to our guest, Jim De Luca, Vice President of The Digital Road to a Sale, the sales, and finance processes are very siloed and don't work well together. Most dealerships are focused primarily on creating a streamlined sales process but leave F&I to sit in the shadows.
Is your F&I Process stuck in the 80's?
It's not 1984, and there is a need for dealers to shift their F&I processes so that they adapt and fit in with consumer behavior in the 21st century.
In episode 89 of The Dealer Playbook, Jim De Luca provides insights into how dealers can provide a streamlined and efficient F&I process in a transparent way.
Transparent F&I Processes are a Must
Transparency, he mentions, is a key to having an efficient finance and insurance process in your store. When you consider the fact that consumers are asked to give private information to an individual that they've never met before is a pretty significant thing. It doesn't make much sense.
The best way to counter that gap in the process is by having a fully-featured F&I menu available during the sales process. That way you'll be able to provide the transparency and information that the customer is interested in.
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