How to minimize F&I Customer down Time and crush PVR Profits


Customer downtime is a big issue when customers want the buying experience to be fast.

I have heard F&I experts talk about keeping customers busy by printing out the declination or accept/decline documents for the loan term the customer accepted and an extended loan term while the F&I manager is getting the product menu ready.

Preprinting paperwork potentially speeds up the time the customer spends in the box because when they buy the ancillary product the F&I person is selling, the paperwork is ready to go. However, duplicating paperwork seems like a waste of time (and paper) for the F&I managers.

Wouldn’t it be easier to be able to recalculate payments instantly as customers agree to add on ancillary products? 

Even more importantly, wouldn’t it be better to know that the customer is planning to add GAP or an Extended Service Contract to their payment before they even come into the F&I department?

Menu selling is still the standard F&I sales process, and it still works. The minor adjustment to menu selling that adds sales and decreases the time customers spend waiting in the F&I process is to present the menu earlier and electronically. Customers can add products and see the monthly cost increase in a calm and low anxiety digital process. Customers using the digital menu process often add products to their payment at a higher rate than when the F&I manager actively sells them the menu items.

ProfitIQ helps F&I managers maximize profits by automatically analyzing lender decision profits and ancillary product maximum profit based on lender LTV and ancillary product cap amounts. When you know a customer wants to add a product, ProfitIQ instantly shows the F&I manager the lender decision that allows for the deal’s maximum combined profit.

When the customer comes into the F&I department and buys additional products, ProfitIQ instantly recalculates all lender decisions based on adding that product to the deal. Due to the different limitations within each lender’s decision allowances, a different lender may become the maximum profit option for the deal. 

The F&I manager can easily determine the maximum profit and print the paperwork quickly, eliminating downtime for the customer.

If you are printing two different payment plans, you are using old thinking to solve a newer problem. If speed and accuracy are what clients want today, it’s time to get technology like ProfitIQ so you can deliver it. 

Making the customer happy by increasing deal speed is great; increasing your F&I PVR at the same time is smart business.

If you are interested in learning more about ProfitIQ and ready to start capturing the many $1,000’s most dealerships are missing every month, please reach out to us at – sales@creditiq.com 


Kent Mihlbauer
Author: Kent Mihlbauer

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