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. … Read more

F&I Process Change to computers was super scary for dealerships

Process change is often a scary idea in the automotive F&I industry. When dealers make the vast majority of their front-end revenue in the F&I department, changing any part of the F&I process is often interpreted as risky. Potentially disrupting current revenue and profit margins with a process change causes many managers to have instant … Read more

For CDK dealers, full integration is vital for your digital retailing platform

Are you on the CDK DMS platform? We all know how important it is to keep our data clean. Your CDK DMS needs to be the #1 source of clean data. When looking at digital retailing platforms as a CDK dealer, it’s vital to make sure any vendor has full writeback and extract capabilities. What … Read more

5 ways E-contracting increases F&I manager income

First, let’s break down E-contracting into the core elements. Bank docs Proof of identity Income proof Credit history Proof of residence Ancillary product docs Rebate qualification docs DMV docs New vehicle information Trade-in information Proof of insurance Tax docs Down payment Sales tax (state, city, county by street address) All these docs have to be … Read more

35% PVR increase for F&I on CreditIQ Digital Retail deals

Technology and internet access has turned consumers into multi-faceted employees. We are all professional researchers. We are all product analysts and reviewers. We are all bankers. (online) We are all travel agents, scheduling our travel and vacations. We are even waiters and waitresses at this point due to Covid-19 rules for self-ordering on your smartphone. … Read more

Sync your online DR with your Showroom Sales Process

When you drop the baton in a relay race, you lose. You often get the same result when the handoff between your Digital Retailing platform and your showroom is dropped. One of the most significant issues that create this dropped baton is when the Digital Retailing platform doesn’t integrate with your showroom platforms. Without integrations, … Read more

Digital Retailing allows Customers to Pre-Order Their Vehicle

Do you allow customers to pre-order the hot new releases? Are customers willing to pay more for this privilege? What would happen if you allow all your customers and website visitors to “pre-order” the vehicle they desire directly from the VDP’s of your website? Suppose you think about digital retailing the same way you think … Read more

4 ways to calculate ROI on Digital Retailing

Have you ever sold a vehicle over the phone to a customer who just wants to pick up the vehicle? (or have delivered) Most dealerships have executed the “remote phone sale” process and have been able to know the exact gross of the deal. That’s what dealers want when it comes to digital retailing. They … Read more

Dealer Decision Review Makes Digital Retailing Less Scary

Automotive online retailing comes with some scary issues. (Halloween post) Scary question #1 – Who approves the deal to make sure it’s profitable? Every deal needs decisioning to be cleared for the final sale. Doing an online deal with “automated” decisioning sounds super scary because the customer gets an “approved” deal that has not been … Read more