If you are an F&I manager and looking to increase your paycheck, experts and trainers recommend doing additional work to increase your income.
Let’s think about that for a second before we jump into the recommendations.
You are likely already very busy, and adding additional work and processes to your schedule seems a little unrealistic. Especially since most of the recommendations require you to actively recruit from the service department or get out on the sales floor to introduce yourself and help presell F&I products.
Wouldn’t it be better if you save time on every deal preparation and analysis while increasing your backend PVR? Effectively working smarter, not harder, and doing it from your office with helpful software?
However, If you have ample downtime and are looking to increase your paycheck, here are 3 things experts recommend doing.
- Work the service lane customers whose vehicle is coming off warranty
- Introduce yourself and set realistic time expectations for F&I process before sales hands customers to you (lots of running in and out of office)
- Pre-print multiple contracts based on the different ancillary products you sell to help limit the time a customer sits around waiting and growing impatient.
I’m sure there’s many more ‘work harder’ solutions that experts recommend, but the reality is most of them require significant additional time and effort.
So let’s go back to how software can help you work smarter, not harder, and increases your F&I profit/income.
As an F&I professional, you use software every day. Good software makes your job easier, just like using a car to drive 30 miles is a lot easier than peddling a bicycle for 30 miles. Software that automates repetitive tasks (like peddling) adds performance and speed to your work effort.
Higher performance software lets you spend less time to maximize each deal’s profit. Effectively giving you more time to work the service lane, pre-print additional contract paperwork, or work the sales floor as the experts suggest. You may just use the extra time and income to be less hurried every day.
It’s up to you how far you want to grow your income. But, starting with software like ProfitIQ will allow you to do more deals each month and maximize profits on each deal you do, no matter where, or if you decide to find additional customers in service or pre-sell on the showroom floor.
If you are interested in learning more about ProfitIQ and ready to start capturing the many $1,000’s most F&I managers are missing every month, please reach out to us at – sales@creditiq.com
