Do you have an F&I sales system in place, or do you just have a product menu?
Glenn Roberts, national training manager for Zurich North America Commercial, a major F&I supplier, says dealers should have a selling system for F&I products just as most do for selling vehicles.
But when he asks dealers whether they have a system in place, many simply say that they have a menu.
To be sure, a menu is a critical F&I sales tool. But the menu is just a piece of the process, Roberts explains.
For example, a typical selling system for F&I products would include specifics on meeting and greeting the customer, qualifying the customer, writing up the deal, presenting a menu and closing the deal.
Based on Zurich’s research, using that particular process can add $196 per car in aftermarket income in stores that already use a menu as a sales tool.
So an F&I sales system gives dealerships a better shot at selling products off of their menu.