Karl Chevrolet is averaging 1.2 F&I products per vehicle sold -- a figure that was running closer to 1.0 before the project, Beschen says. Sales of service contracts and credit insurance have increased the most since the renovation, with service contract sales up 10 to 15 percent based on same-month year-ago comparisons, he says. Other popular aftermarket products include GAP, tire and wheel, paint protection, sealants and maintenance.
Although Beschen admits it's hard to say that one thing has been responsible for the increases, he says he has received positive feedback from customers about the F&I improvements. Customers say, "This is the best process we've ever had" or "Man, do you treat all your customers like that?"
The scheduling software is working so well in the finance department that last month, Karl Chevrolet incorporated the cleanup crew into the system and added a monitor to the vehicle-preparation workspace so that crews will be able to see which vehicles need to be ready when.
Beschen believes that every dealership, big or small, should adopt some strategies to improve the traffic flow in its F&I department. Although Karl Chevrolet spent money to remodel its F&I waiting area -- an amount the dealership declined to disclose -- Beschen doesn't believe renovation is essential.
"The facility is fantastic," he says, "but you can do without that if you have scheduling in place."