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How to Become an F&I Black Belt

Pro athletes and other highly-paid professionals must spend a substantial amount of time training,
and hone their skills to maintain their competitive edge. My question is: Why should the F&I industry
be any different?

Day in and day out, F&I managers are asked to juggle various priorities which, for many, can quickly
become overwhelming. But, what separates a good F&I manager from a great one is the ability to
embrace training – not worrying whether it fits into their schedule or not.

Beyond just keeping the dealer principal off your back, you need to show them that you’re the only
person for the job. To do that, there are a few questions you need to ask yourself.

How Can I Run a Great PVR With Near Perfect CIT?
Contacts in transit (CIT) have always been a concern for dealers – they weigh on the F&I manager’s
mind and have a large influence on their production. Similarly, per vehicle retail (PVR) has also long
been the invisible marker of F&I success – but it doesn’t always tell the whole story.

However, there is one thing that can ensure your success with both PVR and CIT, and It’s e-
contracting.

With technology like e-contracting, even lesser F&I hires can perform at high levels and it can
reduce CIT – which means you’re making money and have more time to focus on the next customer,
not chasing around numbers or signatures.

Are We Set Up For E-Contracting?
By investing in e-contracting, dealers and lenders can help to accelerate the final steps in the car
buying journey. But, successfully adopting e-contracting requires dealers to implement new
processes and training to match the new technology.

If you’ve already integrated e-contracting, you might also want to ask yourself:

  • Do you have a list of all of the lenders that fax fund or e-sign?
  • Do you have a daily plan to make sure your deals are able to fund?
  • How is your communication with the sales staff on their deals?

All of these questions are crucial to your performance. And, in the end, whether talking about
professional athletes or F&I managers, the key to your success lies in how well you can
communicate and work with your team, even with these new technologies and processes. And,
that’s where we come in.

We align F&I best practices and industry knowledge with cutting-edge technology and training,
helping to transform a dealership’s F&I department into a powerful profit center.

2018-08-15T17:50:12+00:00